|Mortgage originator Betterbond is investigating offering its services in at least five offshore markets. Brazil has been identified as the most favoured by PA Group CEO Rudi Botha, delegates were told at a recent Betterbond function in Johannesburg to celebrate the granting of R100 billion in homeloans in the past three years.|
With a population of 185 million people; an homeloan market 15 times smaller than South Africa and a housing shortage of nine million homes, Brazil represented “huge opportunity” for Betterbond’s services following its success in the South African market. China was also being assessed for opportunity by BetterBond.
Tracing Betterbond’s success, CEO Kevin Lancaster, said the originator had grown from R30 million a month bond grants in 1999 to R1billion a month in 2003 to the record monthly grants of R6 billion in March this year thereby topping the R100 billion mark in bond grants in the past three years. The figure is “probably about 30 percent of the country’s total homeloan origination market.”
Lancaster said the soundness of growth had been made by adding value to the homeloan process, the impartial marketing of homeloan products and the support of its banking, estate agency and aggregation partners. Betterbond currently supports 10 regional offices and 200 home loan consultants with a further approximate 1 000 consultants employed by aggregation companies operating through the brand.