The role of the bond originator in your home loan

Many people desire to own a property of their own at some point of time. But not everyone is lucky enough to have sufficient funds of their own to fulfill their dreams. Hence, most people seek a home loan to buy a house. This home loan can be obtained both directly or indirectly. This means that you can either directly take it from the lender. The other option is to take the help of an intermediary. One such consultant is a Bond originator. Thus, the originator typically acts as a personal advisor offering views at every stage to help get the best loan at the most competitive interest rates.

Growing Popularity of Bond originator in South African Market

The concept of mortgage originators is quite prevalent in every market, including South Africa. Their job is to keep track of the all the home loans and to provide the best advice to avail one with best rate of interest. In the recent years, markets in South Africa have become extremely competitive and this is evident in the increasing presence of bond originators. Now they operate quite closely with the banks and often enable the availing of the home loan at a very quick pace. They also negotiate for a home loan on one’s behalf and they serve in the best interest of the client. From the borrower’s perspective, this often translates in significant savings for them. However, the concept of Bond originators in South Africa is a relatively new concept. In order to gain a firm foot hold in the market, many South African banks have gone in for strategic tie-ups with different originators for loan processing purposes.

Reasons for Taking Help of Bond originators

Less Involvement in Paperwork

Making use of the originators would much mean less paperwork as they would handle all the work on your behalf. This also means less hassle for you in compiling the documents.

Get Professional Advice

One of the biggest advantages of them is that they have a great deal of experience to offer advice in the best interests of their clients. Since, they are generally aware of all the products offered by various banks, they more often than not come out with the most appropriate and reasonable advice.

Increase in Efficiency

They ensure quick turnaround time in loan processing and approval, as they have direct dealings with the employees of the Bank. Thus, one does not even have to be bothered about visiting the bank often, as they would even do negotiations on one’s behalf.

Single Application Form

Another very important advantage of a bond originator, especially from the South African market, is that the customer is required to fill only a single application that will be submitted to various banks. Post approval of the home loan, it is upon the customer’s discretion from where to avail the loan finally.

Cost savings

Since bond originators negotiate most competitive interest rates on behalf of their customers, it results in huge interest rates savings for their customers. Furthermore, the services offered by them are usually free for the customer as they get paid directly from the bank for this. From a borrower’s perspective, this is another important form of costs savings.

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