Your affordability is based on your income and level of debt against your income. The debt service ratio ideallyshouldn’t be more than 30% of your gross monthly income, whether single or joint. Banks are guided by the rules setout by the NCA (National Credit Act of South Africa), which helps to protect South Africans from getting into toomuch debt.

If you have all your documents on hand, the application process could take less than 30 minutes to complete.

• You can save your application form at any point in the process and complete it at your convenience.
• Once you’ve submitted your application, compared and selected an offer from the banks, they will be in touch tofinalise the home loan process.
• This process could take up to two months to complete.

• Banks consider your relationship history with past and current creditors. Your ability to make consistentrepayments to your creditors is a critical factor in the credit assessment process.
• The second factor banks will take into consideration is your affordability, i.e. your monthly income minus yourfixed expenses. This gives you a surplus that makes up a budget for what you can afford to spend on a house.
• They also take into consideration the deposit amount you have available, which gives them a level of your equitycommitment in the property.

There are a few once-off costs that you will need to budget for, such as transfer costs, transfer duties, initiation feesand bond registration costs. These costs are in addition to your monthly home loan repayment.

Transfer Costs:

• The transfer cost is the cost to have the property transferred into your name at the Deeds Office. This costconsists of a once-off fee that you will pay to the government in terms of the transfer duty (any property belowthe cost of R900k is exempt from transfer duty).
• The other cost is the fee to register your property, the conveyancing attorney will charge this fee. This moneywill be used by the attorney to register you as the owner of the property at the Deeds Office.

Transfer Duty:

• The cost you pay for transfer duties is calculated based on the price paid for the property. This duty is a government tax.

The registration cost is a fee that the registering attorney charges in order to register the property in your name at the Deeds Office.

• Besides the upfront costs such as the transfer duty, bond registration and bank initiation fees, you will need toconsider maintenance costs, such as the rates and taxes, levies (sectional title property) and the cost ofinsurance such as homeowner's cover.
• The banks require you to have insurance cover on the property, as this is highly beneficial to managing the riskof damage to the asset.

Yes, it is. You will save when you choose to pay more than the minimum amount required on your home loan.

There are three main points to look at when comparing home loan offers, namely,

• Interest rate: The lower the interest rate, the lower your repayment.
• LTV (loan to value): The higher the LTV, the less deposit will be required, if any.
• Loan term: The number of years required to pay back the home loan.
  
  Example: If your loan term is over a shorter duration, then less interest is payable, but higher monthly instalments will be required. If a longer repayment period is selected, the more interest is payable, but your home loan instalments will be lower.

Your monthly instalment usually consists of a:

• Basic instalment that includes capital and interest.
• Homeowner’s insurance premium.
• Life assurance premium (if selected).
• Admin fee.

There are various reasons that could affect your ability to qualify for a 100% home loan, such as your affordability,your credit history or even the value of the property that you’re wanting to buy.

We recommend that you start to save for a deposit the day you decide that you want to buy a house. The bigger thedeposit you manage to save, the smaller the home loan amount you will require. By saving up for a deposit, it willimprove your chances of being approved for a home loan, as well as reduce your monthly repayments.

SLS-Bond Nest is a certified, fully committed initiation program that empowers South African realtors with the opportunity to earn a percentage-based income independently. Additionally, SLS Bond Nest helps realtors nurture client-agent relationships through its trusted referral process for bond approvals.

While your commission agreement with your agency is a separate payment system that exists between you and your agency, Bond Nest is offering you earning potential over and above, with an initiation fee, when you refer your client to apply for bond approval via one of our partner banks. The more you use Bond Nest, the bigger the reward on future successful registration of bonds.

We’ve been in the industry a long time. One thing we know for sure, is that the real estate agent works the hardest, and the longest, for the least amount of revenue. We ‘re here to change this, to transform it!

We’re for the agents that work hard for their commission but struggle to realise their full economic potential, which is why we’re giving real estate agents additional financial revenue streams that they may not have had access to before.

As many as Bond Nest offers. There is no limit to sending to as many Bond Nest partner banks as you choose. Or, your client can choose one preferred Bond Nest partner bank for submission, and you the agent pass this on via our system. NB! Please remember the Offer to Purchase (OTP) is required in the case of various bank submissions, and the banks will manage the rest with your client.

It’s easy. You have a fully automated dashboard available through our member portal. Your online dashboard alerts you to real-time status approvals and will archive the records for you. You’ll never lose sleep over it! As soon as the bond is registered you will be notified by Super Listing Services as to the payment process.

The reason for this is that all communication from the banks to you and your client will be done via WhatsApp. SLS – Bond Nest will also communicate via this channel, as it is secured by end-to-end encryption for payment verification and general communication of new products and incentives by SLS – Bond Nest.

Email: hello@bondnest.co.za
Tel: 011-868-1160
General WhatsApp:+27 066 355 3895
System Query WhatsApp:+27 081 010 9814
Website: Contact Us
SLS - Bond Nest