Durban-headquartered mortgage originator Bond Choice has taken its place among the top three originators in the country, facilitating almost 20 percent of all new home loans being granted.
Director Kevin Mountjoy told delegates to Homenet’s annual conference in Botswana last week that over the past five years, Bond Choice had been responsible for more than R125billion worth of loans and was currently processing some R4,5billion worth of granted loans every month.
Mountjoy said the demand for home loans was still strong at all of the company’s 44 banches around the country, and that there was no indication of a major slowdown in the number of applications although the most recent interest rate increase would probably have some impact in two to three months’ time on the size of loan that borrowers requested.
Mountjoy also announced at the conference that Bond Choice is shortly to open an office in Soweto. It will be the first major originator in South Africa to have a presence in any of the former black townships.