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The History of Bond Origination in South Africa
Bond Originators. You’ve got to love them. Mortgage Originators are the reason why banks are making so much money out of mortgages. They’re the reason why South Africa’s property market has boomed at the rate that it has. If it wasn’t for bond originators, bonds would not be granted within 4 days of submission and estate agents would not be able to sell property at the rate that they do. Trust me, try go to a bank and ask your bank manager to help you fill out a bond application. It’ll take you months. So this page is dedicated to South Africa’s leading mortgage and bond origination companies. Of course we are the best at Wizard Midrand.
Is it the end of the bond originator as we know it?
Your one stop shop and buyers agent. I’ve been asked over and over again by various people whether the new National Credit Act will be the downfall of the mortgage origination business in South Africa. It’s a valid question and you may have read in recent paper articles and BLOGS that the bond origination business is OVER. The fact of the matter is that it won’t die. It never will die. The property industry in South Africa is controlled by the big real estate agencies.
What has helped the property industry grow so quickly is the fact that estate agents have been able to focus all their attention on selling property and letting the originators deal with the bond side of the application. Now you don’t have a big estate agent without a mortgage side of the business.
I’ve compiled a list of SA’s top bond originators below, even though they’re our competitors I think they deserve being mentioned because, without them, without the mortgage origination guru’s of the SA property market, you would not have WIZARD MIDRAND. So thank you boys, this page is for you…
Loanlink Broker Services – The Loanlink Group consisted of 3 bond originators namely Wizard Home Loans, Quantro & Finex and was then sold to ooba, originally known as Mortgage SA.
Ooba – Probably the founders of Bond Origination in South Africa and close partners with Pam Golding make this team very powerful.
SA Home Loans – They’re a group of Bond Originators who don’t do financing via the banks. SA Home Loans have caused a stir in the SA bond market.
Bond Choice – They’re hot, they’re big and they’re probably the leading mortgage origination group right now.
Better Bond – Betterbond another one of the big bond originator groups. Structured a lot more like a corporate company but a great and very successful bond origination group.
Why would you want to use a Bond Originator?
- The bond originator will do the application process with every bank. The mortgage originator will collect all the necessary documentation and setup your application, saving you time and money!
- It’s one bond form. No more. This will be submitted to all the banks on your behalf by the bond originators. Submission to multiple banks is not really seen as a good things in the mortgage industry, it’s generally only submitted to a second or third bank should the first decline. This is the difference between a GOOD and a BAD bond originator.
- Originators almost guarantee you better rates than the rates you’ll get should you go directly through a bank. Originator have relationships with the banks and home loans departments which they often use to get clients better rates.
- Bond originators are FREE. All payments made to originators are made by the banks. Be very wary of bond originators that charge a fee.