GETTING STARTED
Getting Your Bond
It’s all in the credit
W
hen applying for a bond or home loan, it’s
not just the buyer’s affordability that needs
to be ascertained, it’s the buyer’s credit and
payment profile that will be checked carefully and if
there is the slightest chance that he has “black marks”
against him the bond application will be rejected,
says Avia Ebrahim, bond consultant for IHFS.
“In the R450 000 to R750 000 price bracket, we
find these households have very little, if any, savings.
Usually my advice to these buyers is to try their best to
save at least 10% deposit and maintain a good standing
with their accounts. The properties will not sell
out over the next six months to a year and rather
have a decent deposit to put down than apply for a
100% bo ?
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