Do Bond Originators help?

W

Waaib

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The last time a financed a property purchase was several years ago. I'm looking at another property using a bond and am wondering if bond originators are worth using? I remember feeling like they added no value the last time I used one.

Your thoughts?
 
Well, I needed to get finance in a rush when I bought last year, but I was also on some tight deadlines at work. The originator got me at least 3 loan offers in just a few days.

I know it doesn't mean much legally, but I got pre-approval in a day and a half & my bond was approved in less than a week, so they added tremendous value for me.
 
You have nothing to lose. Use one of the more well-known ones - they are able to submit to all the banks in a short period of time.

Nothing prevents you from approaching a bank on your own in the mean time.

There are no costs involved for you, so how badly can they fukk up?
 
NO. the ones i have dealt with are full of shtt and full of themselves.
I applied for a homeloan a week ago by myself, in 2 working days from application to approval with good rates etc, and with 10 times less effort than going through with all the ridiculous hoops and hurdles she put out for me. "i know what the banks want, to approve a loan" - yeah well it seems you dont, you stupid twat. sad thing is i used her last year as well for another property i also bought, and she was terribly fussy then as well.
 
To add to that, the quote I eventually got back from FNB wasn't any better than the ones I got back from the bond originator, so I didn't see a downside, obviously different people have different experiences.

Be careful of signing anything obligating you to use them to obtain finance for the property.
 
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No, we were in a situation where we had bond issues because the bond originator messed up. We eventually told them to get stuffed and got a lower rate than they could arrange by approaching the bank directly. The other nice thing is that if any issues do arise you don't have a middleman who you have to rely on.
 
You can't lump all bond originators into one pool, obviously there are good ones and there are bad ones. The good ones can be invaluable. They have contracts with the bank, so score preferential rates and usually split fees with the banks dealmaker, so no additional cost to you. As they are known to be good and have a good reputation, the credit approval and etc is always much smoother.

The bad bond originators don't add any value. They waste your time, waste the banks time, and usually cost more as they will add their fee on-top of the banks fees.

For this simple reason is why you will hear such different experiences people had with "bond originators".

I for one (and I work for a bank, on the commercial side) am pro bond originators. If they are good and do their job properly, they make life so much easier for the bank and the client and everyone is happy.
 
No. I had bad experiences with them.
But then again, im sure there might be some good ones out there.
 
well like everyone said u have ur good ones and ur very very bad ones.....but I think if everything is all good on ur profile dont waste ur time do it yourself if you dont have time use a search engine instead like think money or something that will basically get you what u need from all banks........bond originators are there basically to help people who are having problems obtaining a loan/bond that just my opinion.......cause they motivate if their is somethings wrong on da profile.
 
Read the contract they give you - one offered me assistance, and gave me an agreement to sign stating I won't attempt to do it myself, or use any other bond originator. I told them I'm not signing it, but they're welcome to try and get a good deal. They couldn't beat the offer I got from ABSA directly.

I looked at refinancing my bond through FNB two weeks ago, they gave me an offer of Prime + 1.3%, this after I told them I don't want to do through the schlep of applying if they can't beat prime - 1.1%... which they said they would - and now they're conveniently ignoring me.
 
wolverinex said:
yes it is ! you just don't know about it ...

i won't go into details ...just say inside info
Click to expand...

The thing about internet hero's is they don't know who they are talking to. I work in a bank, and am very involved with the home-loans department, and they have no issue dealing with bond originators. The banks have contracts with quite a number of them, and rely on them to bring in a substantial portion of business.

Where do you work seeing as you have such good inside information?
 
broken1 said:
The thing about internet hero's is they don't know who they are talking to. I work in a bank, and am very involved with the home-loans department, and they have no issue dealing with bond originators. The banks have contracts with quite a number of them, and rely on them to bring in a substantial portion of business.

Where do you work seeing as you have such good inside information?
Click to expand...

deleted...hope you caught it
 
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