| Q: |
If it costs us nothing, how does Bond Choice get paid? |
| A: |
By gathering the clients’ information and providing the banks with prepared applications, Bond Choice streamlines the process, lowering the banks overhead costs. In return Bond Choice is paid a fee by the banks. This fee cannot, by law be included in your loan, and you will pay no more than if you approach a bank directly. |
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| Q: |
How do the banks feel about Bond Choice? |
| A: |
The lenders benefit from the services provided by Bond Choice as it reduces their overhead costs and allows them to provide a far more efficient service to customers. |
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| Q: |
What are the benefits of using Bond Choice? |
| A: |
Because we deal with the banks every day, we know their products backwards. That way we can find the best loan for you. What’s more we can negotiate a good rate with them, and speed up the process of approval and registration. So we take away the guesswork and hassle of doing it all yourself. And it won’t cost you a cent more! |
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| Q: |
Why should I deal with you and not the lender direct? |
| A: |
With Bond Choice you get the benefit of comparing all the banks’ home loans without lifting a finger. And you get the advice of an independent party when evaluating their relative home loan offers. |
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| Q: |
How is Bond Choice different to other home loan brokers? |
| A: |
Because we have a banking background we have a more intimate understanding of how the banks evaluate their applications and the workings of their systems. Our technology has enabled us to revolutionise the way applications are submitted, approvals are made and loans are tracked. All of this translates into the right loan for you, at a good rate, and processed with no delay. |
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| Q: |
Will I get the same interest rates as if I applied through the bank directly? |
| A: |
Bond Choice will ‘shop around’ on your behalf for the best loan for you- not only in terms of rate but also other features of the loan. And because we do so much business with the banks we can negotiate from a position of strength. Invariably we will get a better rate than if you approached the bank yourself. |
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| Q: |
Is there any obligation to accept a home loan sourced by Bond Choice? |
| A: |
There is no obligation to accept any approved home loan that Bond Choice has sourced on your behalf. The offer we make to you is effectively a quotation from the relevant bank. |
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| Q: |
What if I already have a pre-approval from another lender? |
| A: |
If you have obtained pre-approval from another lender then Bond Choice can either complete the application process on your behalf or alternatively we can source a competitive rate from another lender. |
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| Q: |
After I apply for a loan on-line, what should I expect? |
| A: |
A Bond Choice consultant will contact you to confirm that we have received your application and to verify any information that may be necessary. |
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| Q: |
Do I have to apply on-line? |
| A: |
No. You can apply online, over the phone or in person, where a consultant will visit you at your convenience. In all instances you will have the opportunity to discuss any aspects of your loan application with an experienced Bond Choice consultant at any time. |
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| Q: |
Who will see my application? |
| A: |
Only your Bond Choice consultant, the relevant processing clerk, the manager and the banks to which it is submitted. |
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| Q: |
Are there any hidden fees? |
| A: |
There are no hidden costs for using our services, as the lenders pay Bond Choice an outsourcing fee for completing the application process. All the normal costs involved in getting a home loan that will be payable to attorneys, the bank and the state (transfer fees) will be presented to you before you go ahead, so you know what you are in for. |
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| Q: |
How will I be able to track my application status? |
| A: |
Your dedicated property consultant will keep you informed throughout the entire process and will be available at your convenience should there be an queries. |
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| Q: |
How long will it take to approve my loan? |
| A: |
Normally applications are approved within twenty four hours assuming that all required information has been received. In terms of the National Credit Act the banks have 5 working days to assess your application and provide you with an offer with the interest rate and loan amount. |
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| Q: |
If I have obtained a pre-approval through Bond Choice, how will I obtain a full loan grant after I purchase a home? |
| A: |
All you have to do is inform your Bond Choice consultant and they will complete the application process with you. |
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