FAQ

How do I best use my access facility as a savings mechanism?

An Access Facility on your mortgage loan allows you to be able to deposit extra funds to your home loan t

03 September 2013
I’m beginning my house hunt, but I’m not sure whether the bank is going to give me a bond in the price range I’m looking. How do the banks determine whether they think I can afford a house?

25 September 2015
The reason the bank has given for the initial decline on my home loan was due to my scorecard. Please explain what is meant by a scorecard?

Kay Geldenhuys, Property Finance Processing Manager at ooba answers:

25 September 2015
My husband and I have been living in our house for a while, and we're going to stay here for the forseeable future, so we've decided to do some renovations. We're not sure about the best way to finance this, though. Could you please advise?

Tracy Matthysen, ooba home finance expert, answers:

25 September 2015
Rather than buying a new home, my husband and I thought we would get the finance to build a home of our own on a piece of that my family owns, but we have no idea about how this process works. Is it the same as a regular bond application process? What do

Lizette Marais, ooba’s Mpumalanga sales manager answers:

25 September 2015
My boyfriend and I want to buy a house together. I already own a home and have almost paid off my bond in full after three years. Will this benefit us in the interest rate we receive when applying for the new loan?

Eleanor Van Der Merwe, ooba regional sales manager, answers:

28 September 2015
I own a majority share in our family home, and I would like to put it on the market, but my siblings are reluctant to sell. Is it possible to sell only my share in the family home?

It is possible to sell a share in a family home where the other shares are held by family members, but the sale can be restricted by the type of property, th

28 September 2015
I am buying a new house and would like to know whether the bank that grants my bond can force me to take out life cover on the value of the bond?

Certain banks do impose mandatory life cover for applications that are approved for clients whose total gross salaries are less than a set amount.

28 September 2015
Does a poor credit record affect a joint home loan application if only one of the applicants has a listing against their name?

Banks are guided by the National Credit act in the granting of credit to applicants, so an impaired credit rating of any of the joint applicants can affect t

28 September 2015
Bond repayments and interest rates

Question:

30 September 2015
Joint bond partnerships

Question:

I would like find out about how to get a joint bond with a partner even though we are not married?

 

30 September 2015
Credit score and how it affects your application

Question

30 September 2015