Multinet Mortgages Frequently Asked Questions


*FREQUENTLY ASKED QUESTIONS*
	1	Q: How much does this service cost?
		A: It is a free service to consumers.
	2	Q: Why is it free, how does the originator make money?
		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.
	3	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.
	4	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.
	5	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.
	6	Q: How many banks do you apply to?
		A: We allow you a choice between participating banks.
	7	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.
	8	Q: Will I be able to directly compare the different packages offered?
		A: Yes. Our consultant will explain the different packages.
	9	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.
	10	Q: How can I determine the status of the application process?
		A: Your consultant will keep you updated on the application process.
	11	Q: Will I get documented proof of the approved loan?
		A: Yes. Our consultant will forward the approval documentation to you.
	12	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.
	13	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.
	14	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.
	15	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.