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About my finances Funds available for a deposit * Income Self Co Applicant (if applicable) Gross monthly income before deductions* * * Travel Allowance * * Other company allowance * * Average Monthly Commission * * Average Monthly Overtime * * General Where did you find / hear about www.mortgagesa.com * not selectedRadio adNewspaper property adReferralSearch engineShowhouse brochureAgreement of SaleMagazine adOther websitesProperty websites* debt consolidation and credit

Are you actively looking for a property to purchase * not selectedNoYes* Have you already signed an offer to purchase * not selectedNoYes* Comments employed Pensioner Scholar Self corporation Company Individual Joint loan Other Prequalification To complete the online application form will take you about 10 - 15 minutes. The first step is a simple registration. Remember, once you have registered, your information is saved and you can exit the application form and return again at any time to complete the online application at your own convenience. check credit rating

The more information you have ready, the faster your loan will be approved, so before you begin we recommend that you have the necessary supporting documentation ready. A comprehensive list of this supporting documentation is contained in our Quick Help section improve credit rating

A MortgageSA property finance consultant will contact you on receipt of your online application to collate the necessary supporting documentation required by the lender to complete the application process. MortgageSA is only able to assist with the finance for new home loans. Unfortunately, we are unable to assist with Switch Loans. credit online rating report

Off line forms available if you do not feel comfortable submitting the MortgageSA application form online, we have a variety of offline options available for you to use. Have you purchased your home yet First time home owner Home buying tips Purchasing property in South Africa as a foreigner Search for a property Buying a home is exciting, but can also be a time of anxiety and apprehension. Whether you are buying a home for the first time or thinking about a second home, you re bound to have some questions. This section is designed to answer some of your questions and improve your home buying experience. credit score rating scale

If you are thinking about buying your first home, it helps to understand the options available to you, as well as the entire process and what it entails. Even if youve done it before, Its always a good idea to plan ahead and make your moving experience easier. In this section you will find information to assist you in this regard. The topics range from organising your move, to the impact of capital gains tax and the legal processes. bad card credit credit people

When you are ready to explore the different loan options available to you, simply call us on 0860 0123 60, or complete our Call Me to have an experienced MortgageSA Property Finance Consultant contact you at a convenient time. free credit rating report

What are the benefits of using MortgageSA Need some additional information Glossary Frequently asked questions This section is designed to assist foreign buyers / non-residents with questions and issues they may have regarding the purchasing of property in South Africa. South Africa follows a system of land registration where every piece of land is reflected on a diagram and ownership recorded in one of the regionally located Deeds Registries where documents are available for public viewing. South Africa is reputed to have one of the best deeds registration systems worldwide with an exceptional degree of accuracy and of tenure being granted. Property can be owned individually, jointly in undivided shares or by an entity such as a company, close corporation or trust or a similar entity registered outside South Africa. credit rating scale

Foreigners are referred to as non-residents, whether they be natural persons or legal entities whose normal place of residence, domicile or registration is outside the common monetary area of South Africa. A South African Resident who has lived abroad for more than 5 years, regardless of whether or not he/she has emigrated will also be regarded as a non-resident for the purposes of obtaining finance in South Africa. There are certain restrictions on property ownership by non-residents, and it is prohibited for illegal aliens to own immovable property within South Africa. There are also certain procedures and requirements which must be complied with in certain circumstances, such as, the local registration of entities registered outside of South Africa where it purchases a property in South Africa and the appointment of a South African resident public officer for a local company whose shares are owned by a non-resident. bad credit rating

This section has been broken up into the following sections to give you insight into various questions and procedures with regards to purchasing property in South Africa as a non-resident. credit rating agency

• Purchasing a property credit rating canada

• Financial Assistance bad credit mortgage rating

• Costs involved in property purchase good credit rating

• Exchange Control / re-patriation of funds credit score rating chart

• Income Tax credit mortgage rating poor

• Capital Gains Tax If you are a first time home buyer, then your most important requirement is to take into account the hidden costs involved in the purchase of a property, which include amongst others, transfer costs and the bond registration costs. Most lenders offer a product tailored specifically for the first time homebuyer. This means you can borrow more than 100% of the property value and can include costs like a deposit, transfer fees and bond registration costs in your loan, making it easier for you to own your first home. The specific advantages to the first time homebuyer are :No deposit is requiredThe borrower need not have cash to pay for transfer and bond registration costs incurred in purchasing the property.General Qualifying Criteria usually apply to borrowers seeking these products :first time homebuyerssingle or joint income must be R6, 000-00 or more a month. Your monthly repayments also cannot exceed 25% of your gross monthly incomeloan amounts between R100, 000-00 and R300, 000-00customers must have a clean credit recordstable employment record (that is, at least two years in permanent full time employment); andyou need to be 35 years old or younger good credit rating score

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Complete the fields below and one of our consultants will call you back name * contact number * * FNB, First National Bank, Nedbank, Standard Bank, ABSA, Standard Chartered, Old Mutual Bank, Ithala Terms and conditions, Security and privacy, Copyright An authorised financial services provider Online Home Loans | 30 Second home loan application | Home loan interview | Apply for a home loan online | Online Insurance | Mortgage protection plan benefits | Home Loan Tools | Call me for property finance advice | Home loan affordability calculator | Bond registration and transfer costs calculator | Home loan options | Interest rate options | Interest rate concession | Legal Services | Legal advice on property transactions | Search for conveyancing attorneys | Behind the Scenes | Property and home loan news | FAQ s on home finance | Glossary of home loan terms | Contact us for property finance advice | Home buyer information | First time home owner | Home buying tips and articles | Purchasing a property in South Africa as a foreigner | Search for a property | SiteMap credit card for poor credit

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If I do not make a claim throughout the entire term of the policy, will there be any refund of premium or surrender value paid, when the policy ceases No, the policy is a risk only policy. There is no investment element to the policy. If there is no claim paid during the term of the policy, there will be no refund of premiums, or return of any surrender value. Who should I contact if I have a query regarding my policy moodys credit rating

You should contact the MortgageSA Insurance Helpdesk on 0861 05 06 07. Alternatively you can E-Mail your query to myinsurance@mortgagesa.com end middle column right column To have one of our Insurance consultants contact you at a convenient time, please click Call back to submit your details My Folder Login end right column credit card with bad credit

Overview Services Contact information Need a home loan in a hurry Credit Ratings Credit Scores middle column

Financial Planning Services CONTACT INFORMATION FOR FREE INDEPENDENT ADVICE PLEASE CONTACT: IAN MCDONALD - MANAGER FINANCIAL PLANNING SERVICES Ian.Mcdonald@mortgagesa.za.net A.K change no (481-7300) 14/03/2006TEL: (021) 528-4800 personal credit rating

Overview Product Information Claims Policyholders Hotline FAQ s

Buildings Insurance What does buildings insurance cover Just imagine for a moment that you could turn your property upside down and all the loose items such as the furniture, ornaments and other items fall out. What you ll be left with is the buildings, outbuildings, garages, swimming pools, walls, paving with all their fixtures and fittings these are the items that are insured under a buildings insurance policy. unsecured loan for bad credit

Buildings Insurance protects the structure of your home as well as all the permanent fixtures and fittings in the event of fire, floods, lightning and other unforeseen causes. How much should I insure my home for For buildings insurance, you need enough cover to rebuild your home and replace all the fixtures and fitting within the home from scratch. There may be a significant difference between the actual replacement cost of the buildings and the market value of your property (which includes the stand, its location, as well as the age and condition of the property). The Buildings Insurance policy provides cover on a new for old basis, therefore it is critical to assess the costs you would incur if you had to rebuild your home at today s building prices. credit rating company

The cost of building materials and the cost of building labour changes on an ongoing basis. You need to ensure that the sum insured that your property is covered for is adequate on an ongoing basis. If you under-insure your property, you will find, at the time of claiming, that the insurer will not settle your entire claim. canadian credit rating

Your MortgageSA Consultant can advise the basis on which to calculate the replacement cost for your property. What happens if damage is caused to your property when you have tenants in the property The cover under this policy will NOT be invalidated by any act or omission of a tenant, without the policyholders knowledge, provided the policyholder notifies the Insurer in writing as soon as he is made aware of such act or omission. credit union rating

Who should I contact if I have a query regarding my policy

You should contact the MortgageSA Insurance Helpdesk on 0860 0123 60. Alternatively you can E-Mail your query to myinsurance@mortgagesa.com To have one of our Insurance consultants contact you at a convenient time, please click Call back to submit your details My Folder Login corporate credit rating

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Insurance Enquiry If you would like to enquire about Property Finance / Home loans, please Credit Ratings Credit Scores . If you would like to enquire about our insurance and planning services, please complete and submit the form below to have one of our insurance consultants contact you at a convenient time to discuss your insurance requirements First name * * credit rating fix

Surname * * Email * * Home phone * * Work phone * * Cellphone * *(please supply at least one valid telephone number) * Select Insurance Services Enquiring about: Buildings Insurance Mortgage Protection Plan Short Term Insurance Financial Planning Services General Enquiry Additional Comments * Fields marked with an asterisk (*) are compulsory My Folder Login bad credit loan personal

Overview Product benefits Claims information Policyholders hotline FAQ s

Mortgage Protection Plan This section provides you with details on how you make a claim against your policy, and the claim documentation that is required for each claim event. credit how improve quickly

• How do I claim
• Claim notification period
• Claim requirements
• Claim forms
• Administrator s contact details

Introduction First time home owner Home buying tips Purchasing property in South Africa as a foreigner Search for a property

Capital Gains Tax Non-residents are only liable to pay CGT on the disposal of the following : fico credit rating

• Immovable property situated in South Africa, including any right or interest in immovable property. improving credit rating

• Assets of a permanent establishment of a non-resident through which trade is carried on in South Africa. mortgage credit rating

CGT is payable in the year in which the asset is disposed of and is calculated by adding 25% of the capital gain, or profit, to the individuals income for that year and taxing that income tat the individuals marginal rate of income tax. The maximum marginal income tax rate for individuals in South Africa is presently 40%. The capital gain is calculated and disclosed in the individual s income tax return for the year in which it is sold. Thus, if a non-resident disposes of an immovable property in any year of assessment and is not already registered as a South African taxpayer, her or she will have to register as such and submit an income tax return reflecting the calculation of the capital gain and will be liable for the payment of CGT on that gain. average credit rating

South African residents to not pay CGT on the first R1 million of profit made on the disposal of their primary residence. However, non residents will not qualify for this exemption if there primary residence is not in South Africa. loan for people with poor

Introduction First time home owner Home buying tips Purchasing property in South Africa as a foreigner Search for a property

Income Tax South Africa follows a revenue based income tax system meaning that income earned from a South African source will be subject to ordinary income tax. Accordingly, any rental earned by non-resident in respect of South African properties will be subject to income tax and it is the responsibility of the non-resident to register as a South African tax payer. bureau credit rating

Income earned by natural persons below R27 000 per annum (for persons under the age of 65) and R42 640 (for persons above the age of 65) is exempt from income tax, whilst all income earned over and above the aforesaid amounts, will be taxed at a marginal rate applicable to that non-resident. find credit rating

Corporate entities are subject to a tax rate of 30% of each Rand of taxable income whilst the equivalent rate for a trust is 40%. Non-resident companies are taxed at a rate of 35% but are exempt from Secondary tax on companies (STC) in respect of dividends paid. increase credit rating

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Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Access Bond This facility allows you to draw funds up to a predetermined loan amount. Accrued Interest free credit rating canada

Interest earned but not yet paid. Administration Fee Fee charged by a lender to cover the initial costs of processing a loan application. The fee may include the cost of obtaining a property appraisal, a credit report, or other closing costs incurred during the process or the fee may be in addition to these charges. Affordability The lender needs to assess whether you can afford the monthly installments on the home loan. Your monthly income must be of a permanent nature and joint income may be taken into account where appropriate. The general rule of thumb is that your monthly installment should not exceed 30% of your gross monthly income. This calculation is referred to as the Affordability factor. Affordability factor (AF) = {monthly loan installment divided by gross monthly income} x 100. standard poors credit rating

Voetstoots This clause is always found in a sale document and means let the buyer beware All defects must be mentioned to the buyer upfront. If there are any defects in the property of which the seller was unaware, the buyer will acquire the property with such defects. Need some additional information Glossary Frequently asked questions Need prequalified finance, a new loan or further loan Click the button below to submit your details and have one of our consultants call you back. credit rating numbers

It s often said that there are only three things to consider when buying property location, location and location. The old adage still holds true, says Geffen: Your property should be an investment which will continue to grow in value in the years to come. So buyers should always look at the surrounding areas what sort of infrastructure is there, where are the nearest schools, how good or bad is security You must consider all of these factors before putting in an offer, as they will be considered when assessing the value and the potential return on investment when you eventually sell your home. credit find fix it rating

How big a deposit do I have to put down

Buyers should also consider the loan-to-value ratio in other words, how big a percentage of the home s value they have to put down as a deposit. This deposit is the equity one is willing to invest in the property, offset against the total amount of the home loan. Says Geffen, It is a good idea to try and put down 20% as a deposit, as the bank will typically grant you a higher rate of concession than if you invested only 10%. It s also worth noting that you are not always obliged to put down a deposit. Some banks are happy to cover 100% of a bond plus costs however, this will impact on your interest rate discount. free credit rating score

How do the repayments compare to my salary

It s also important to consider the repayment-to-income ratio, to determine whether you can really afford to keep up your loan repayments, and aren t setting yourself up to default. Typically, advises MortgageSA, the buyer s mortgage repayments should not exceed 30% of their gross monthly salary. For how long will I be paying off my bond company credit rating

A 20-year (240 month) repayment term for the mortgage is fairly standard amongst most lenders. Buyers should be aware that they can negotiate for longer or shorter terms. But, cautions Geffen, this can affect the total cost of the mortgage in terms of interest paid over the long term. It should also be noted that some lenders will not grant bonds to buyers who may not be economically viable for the full 20 years in other words, those who are close to retirement age. loan for people with bad

By asking these simple questions, potential buyers can take a lot of the guesswork out of what is after all a major investment, requiring careful consideration. Online resources centres can also be a good source of support, and can help buyers assess the financial implications of buying a home. Amortization, transfer cost and affordability calculators, like the ones available on www.mortgagesa.com, have been designed specifically to help buyers identify the various scenarios they may face, and work out how much flexibility they have should any of these factors change. fixing credit rating

For professional advice on considering the financial aspects of property investment, contact MortgageSA on 0860 0123 60 Need some additional information Glossary Frequently asked questions Need prequalified finance, a new loan or further loan Click the button below to submit your details and have one of our consultants call you back. My Folder Login credit get rating

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News centre back to News Centre Send this article to a friend 15 February 2007 Save, don t spend is expected message for Budget 07 This year s budget is expected to introduce further initiatives that promote personal savings and discourage overspending after several years of conspicuous consumption by South African consumers. credit online rating

Ian Mcdonald, National Manager of Financial Planning at MortgageSA, says the treasury will almost certainly be focused on putting brakes on consumer spending so people should not be surprised if this year s budget does not include a reduction in personal taxes as it did last year. rating bad credit card

I think the focus this year will be a strong message of save don t spend And hopefully will address further incentives for retirement savings in particular. One way of achieving this would be to raise the tax deductible amount an individual can claim on contributions to Retirement Annuities (RA s). Currently an individual can claim a tax break of up to 15 % for their RA contributions (but limited to the actual amount if it is less than 15%). This is for people who do not belong to a retirement fund. bad credit rating loan uk

A second concession is to remove the taxes levied on retirement funds under management of financial institutions (Tax on Retirement Funds Act 38 of 1996) which is currently levied at 9% on interest (not capital growth). credit rating services

It was lowered last year from 18%, however there have been calls year in and year out before the budget speeches to do away with this tax as it effectively taxes the same money twice, i.e the money in the funds are taxed at 9% and then the annuitant is taxed on the income he/she draws from the funds in their retirement years. credit rating in canada

Mcdonald notes that curtailing consumer spending is an important priority for government this year because greater disposable income further drives consumer spending and credit demand for luxury imported items. fitch credit rating

The knock on effect is to further widen the current account deficit to fund these imports, something which Tito Mboweni is determined to bring under control as evidenced by recent rate hikes. McDonald says that people should focus on investment in assets that appreciate in value such as property and shares to create wealth, avoiding status purchases that typically quickly drop in worth. Need some additional information credit rating definition

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News centre back to News Centre Send this article to a friend 1 April 2007 3 Little steps to financial peace of mind Financial freedom doesn t mean you have to win the lottery or a get an unexpected call from the executors of a long lost uncle s estate in Provence. credit range rating

Ian Mcdonald, National Manager of Financial Planning at MortgageSA, says that most people mistakenly think that more money is the only way to financial peace of mind. But the truth is that it is good habits and sound planning, rather that exceptional cash flow, that makes for a sound financial future too. Here are 3 steps to achieving fiscal serenity: 1. Pay off your debts First, make a list of all your debts, advises Mcdonald, and then determine how much interest you are paying on each of them. credit rating insurance

Pay your debts off in order of the interest by settling the highest interest bearing debts first. Mcdonald says that drawing up a budget every month will provide a stark review of your income vs. expenditure. If you spend more than you earn, you will never reduce your debt. Use any spare cash you have to pay off debts until they are gone. It s important to use a budget to make provision to retire debt-free and then spend on other items, not the other way round. bad credit rating repair

Once debt is clear, then people should start a savings plan. 2. Make tax work for you Why pay more tax than you need to Especially when the tax man will pay you to save, notes Mcdonald. Make sure you are benefiting from the tax deductions available for saving towards retirement. We are all entitled to this benefit, the levels of which depend on whether you currently belong to an employer sponsored Pension / Provident Fund or not. fico score credit rating

Mcdonald advises people to have a detailed Financial Needs analysis done by an accredited Financial Advisor. The purpose of this will be to give you a realistic perspective on whether you will meet your financial goals in the short term or long term and should you become the victim of unforeseen circumstances, you will know whether your bank balance will handle it. Mcdonald says this should be a regular occurrence. credit rating chart

We suggest at least an annual review, as your circumstances change and legislation pertaining to tax changes almost every year as well. Amongst other things the Financial Needs Analysis will include an analysis of how much cover you require to protect the lifestyle of your dependants should you die or suffer a disability or illness which renders you incapable of working either for a period of time or permanently. bond credit rating

3. Provide for your family

The final step is to prepare for you dependents financial stability through life cover. People should ask themselves how their families would live if their source of income was switched off tomorrow. Another important process in this step, Mcdonald advises people, is to remember to review the beneficiary clauses under your life cover policies during the financial needs analysis. equifax credit rating

Assets you might want to go to certain heirs may also get caught up in the estate winding-up process and could even be sold by the Executor to meet liabilities and costs. An estate can take up to 18 months to be wound up and no doubt beneficiaries would suffer. credit loan rating score

It s a terrible predicament which could be so easily avoided. If properly constructed the proceeds of the life policies will pay directly and immediately to the nominated beneficiaries and avoid being reduced by Executors Fees. People need to update their wills for the same reason. Again, a simple solution solves a potentially huge predicament. Mcdonald points out that a Financial Needs Analysis will also highlight whether someone is over-insured. aaa credit rating

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