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Q: How much does this service cost?
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A: It is a free service to consumers.
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Q: Why is it free, how does the originator make money?
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A: Once the home loan has been registered the participating
banks pay the originator an outsourcing fee. This fee is not added to the costs
that you incur.
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Q: What is the agreement between Multinet and me, the purchaser? |
A: You do not need to complete any forms, our consultant will
complete the application on your behalf at your convenience.
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Q: How many forms do I need to complete? |
A Multinet consultant will use the information you supply online to contact you
to complete a full application over the phone.
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Q: What information do you need? |
A: We need all your personal and financial information, as well
as your bank details. This is normal procedure in order to apply for a loan on
your behalf.
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Q: How many banks do you apply to? |
A: We allow you a choice between participating banks.
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Q: Which banks do you apply to? |
A: We apply to all the major retail banks. If you are
already a client of one these banks we will apply to that particular bank first,
given that you agree to do that.
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Q: Will I be able to directly compare the different packages offered? |
A: Yes. Our consultant will explain the different packages.
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Q: How long does it take before the mortgage bond is approved? |
A: The participating banks undertake approval in principal
within 72 hours provided that they have all the relevant information.
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Q: How can I determine the status of the application process? |
A: Your consultant will keep you updated on the application
process.
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Q: Will I get documented proof of the approved loan? |
A: Yes. Our consultant will forward the approval documentation
to you.
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Q: How secure is my information? |
A: We are committed to the Code of Banking Practice which
specifies that we ensure that your personal information is protected.
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Q: Do you sell my information to any organisation? |
A: No. The Code of Banking Practice prevents us from selling
any information without your consent.
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Q: Do you guarantee to get me a loan? |
A: We have established strong relationships with the
participating banks, but all lending by banks is subject to your ability to
afford the loan and willingness to repay.
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Q: Do you follow the registration of the mortgage until registration? |
A: Yes. We ensure that you are kept informed through the whole
process. We monitor your application, give you feedback and liaise with
conveyancers.
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