A maze of high interest rates and stringent rules and regulations associated
with South Africa's New Credit Act are enough to frighten off any
prospective home owner and make sound financial advice critical. In
addition, well informed and well connected consultants that are able to
minimize the confusion and smooth the entire process for busy, stressed
professionals have moved from being 'a nice to have' to 'a must have'.
That's according to Bev Green, who heads up BondLink, the newest mortgage
originator on the block. Based in Durban, BondLink was created out of the
premise that personalised service is the difference between shuffling paper
and adding value to a deal. Good financial advice is the difference between
a financial gamble and a sound investment that will pay returns in the long
Mortgage origination is not new but BondLink's approach is, Green said.
Growing numbers of mortgage origination companies have marketed themselves
over the past two years. Like BondLink, their consultants negotiate with the
major banks on behalf of prospective buyers in order to secure the most
favourable interest rates, terms and conditions. They also assist with
paperwork and financial solutions.
What they don't do is bridge the divide between the estate agents who are
brokering the deals and the buyers who not only need their advice on the
properties themselves but also on how to take a decision to buy to its
logical conclusion. BondLink took the gap and is providing training and
support for the real estate industry while offering a personalised service
to the clients they share.
The result is a small, niched company with a mandate to provide personalised
service backed by a fast and efficient paperless, state-of-the-art process.
Green said it could not be denied that mortgage origination is an innovative
way of taking the confusion, delay and drama out of securing finance for a
property. Once a buyer has identified the property he wants to purchase and
signed a purchase agreement, BondLink consultants begin negotiating with a
range of banks and mortgage providers on the buyer's behalf to secure the
best deal. These same consultants are on hand to provide further assistance
and information throughout the process.
"Once a buyer has accepted our bond recommendation, we will ensure that all
the relevant documentation reaches the bank and liaise with the conveyancing
attorney on the buyer's behalf," Green said.
She said that buyers not only stood to benefit from consultants' expertise
and financial connections, but also from the convenience of having someone
there to handle all the bureaucracy on their behalf - a factor made all the
more important when one considered the requirements of new credit
legislation that was still poorly understood by the man in the street.
"The services that BondLink offers could save a great deal of money over
time thanks to the sound advice and bond recommendations of a skilled
originator. These services are completely free of charge to buyers. We are
paid by the banks for the facilitation of the bonds that we arrange for each
In addition to negotiating new loans, BondLink also handles extended loans
for home improvements, vehicle finance or even to pay off existing debts and
assists with financing long-term property investments and investments in new
BondLink was launched in February this year with Tyson Properties as its
first client. In this short space of time, it has exceeded budget by 30
Green attributes this strong performance in a turbulent property market to
the BondLink team that she believes represent the six finest mortgage
consultants in the region. Each of these mortgage originators is a member of
the National Association of Mortgage Originators (NAMO). Green has 26 years
experience in financing, of which 22 were spent with Wesbank, a division of
FNB, where she was actively involved with obtaining and approving finance
For more information, log onto www.bondlink.co.za