Following the dissemination by Rawson Finance, the Rawson Property Group’s bond origination division, of tables setting out bond qualification and bond affordability conditions, members of the public can now get quick and accurate telephonic answers on these subjects from Rawson Property Group franchisees and agents. Furthermore, the tables can be emailed to them for perusal in their own time.
The tables, compiled by the BetterLife Group and distributed by Rawson Finance’s National Manager, Mike van Alphen, show two main sets of figures.
The first gives the monthly repayment per R1,000 of a loan with an interest rate of between 7% and 18% over 5, 10, 15, 20, 25 and 30 years. The second set of tables indicate the maximum bond amount based on a single or joint salary (from R15,000 to R90,000 per month) over 20 years at anything from 8,5% to 12% interest rates.
The calculations here, said van Alphen, are based on the average cost of living statistics and assume that the applicant’s hire purchase and retail debts will be low or even non-existent.
“The great advantage of tables of this kind,” said van Alphen, “is that, along with so many other backup systems provided by the Rawson Property Group, the agent actually dealing with the public is able to give quick, accurate answers. If the tables are emailed to the applicant, he, too, will have no problem in understanding them.”
Rawson Finance now makes it easy for potential home buyers to estimate the size of the bond they could get..http://t.co/gKxTa7Qjze #mortgage— RawsonPropertyGroup (@RawsonGroup)
By dealing, under no obligation, with a good bond originator when first considering buying a home, said van Alphen, the potential home buyer can find out not only what his chances are of getting the home but also how he stands with South Africa’s national credit bureaux. Pre-qualifying in this way, said van Alphen, is a wise step to take because, as quite often happens, if the client goes in search of a home first and then starts trying to raise finance, he often finds that his financial position does not justify him in receiving a loan of the size he expects.
