Our Process
property financec
Welcome to your central hub for bond registration expertise. Here, we provide the essential guides, answers, and tools designed to help you navigate the home-buying journey with clarity and complete confidence before you begin your enquiry.
property financec
Document Checklist
Step 1: Gather your ID and proof of address
Step 2: Collect your payslips and bank statements
Step 3: Include your signed offer to purchase
Step 4: Add business financials if you are self-employed. Keeping these ready makes your application simple and organized. Ekhaya can double-check your documents before they submit to the bank.
Buyer Resource Hub
Fees and Bond Savings
Understand the legal costs and transfer taxes involved in your home purchase, and learn how a cash deposit reduces your long-term debt. Clear planning makes for a smooth move.
Managing Your Bond
See how originators negotiate better rates and how extra monthly payments can clear your debt faster. Learn the correct notice periods for bond cancellations to protect your money.
Property Q&A Hub
Before You Buy
How is my affordability calculated?
Banks typically look at your gross monthly income and ensure your bond repayment doesn't exceed 30% of that amount. They also subtract all your existing debt and living expenses from your net income to see what is leftover for your monthly installment. Ekhaya helps you pre-calculate this so you only shop for homes you can definitely afford.
Is a cash deposit mandatory?
While some banks offer 100% home loans where no deposit is required, having even a small amount of cash upfront can make a massive difference. A deposit shows the bank you are a low-risk borrower, which often helps you secure a better interest rate. Paying a deposit also means your monthly installments will be lower, making it much easier to manage your budget for things like furniture or renovations. If you're unsure how much you should save, Ekhaya can guide you through planning your deposit strategy.
Why use a bond originator first?
Chatting to an originator early gives you a clear 'pre-approval' so you know exactly which price range to look at. It also gives you time to fix any small issues on your credit report that might lead to a bank decline later on. Starting early with Ekhaya ensures that when you find your dream home, your finance is already halfway there.
What is a 'subject to' clause?
A 'subject to' clause in your offer to purchase means the sale only proceeds if certain conditions are met, such as your bond being approved. It protects you from being legally committed to a purchase before your finance is 100% secured. Ekhaya helps you manage these specific timelines so your offer stays valid while we work on your bank approval.
During Registration
Who pays the registration costs?
In South Africa, the buyer is responsible for the costs associated with registering the bond and transferring the property into their name. These costs include professional fees for the attorneys and government taxes like transfer duty, if applicable. Because these fees can be a significant amount, it is vital to budget for them alongside your deposit so there are no surprises at the end. Being prepared ensures the legal handover happens without any delays or stress. Ekhaya can guide you through estimating these registration costs accurately.
How long does bond registration take?
Usually, the bond registration process takes between 8 to 12 weeks to complete from the moment your loan is approved. This timeline depends on how quickly the transfer attorneys and the Deeds Office can process all the necessary legal documentation. Ekhaya stays in touch throughout this period to ensure every milestone is met on time.
What occurs at the Deeds Office?
The Deeds Office is the official government hub where the legal record of your new home is stored. During the registration phase, specialized attorneys finalize the paperwork that confirms you as the lawful owner, while the bank’s interest is noted against the title deed. This process provides you with the security of knowing your ownership is protected by South African law. It is the final milestone in the journey to getting your keys because once the registry is updated, the house is officially yours. Ekhaya can guide you through each step of this official handover.
What is a bond registration attorney?
A bond registration attorney is appointed by the bank to handle the legal security for your home loan. They draft the documents that you sign and ensure they are lodged correctly at the Deeds Office so the bank's interests are protected. Ekhaya coordinates with these attorneys to ensure your paperwork moves as swiftly as possible.
What are the occupational rent rules?
Occupational rent is paid if you move into your new home before the formal registration at the Deeds Office is complete. It ensures the seller is compensated while you enjoy the property before you officially become the owner. The rate is usually agreed upon in your offer to purchase to avoid any confusion later.
After Registration
What is the cancellation process?
When you eventually sell your home or pay off your loan in full, your bond needs to be formally cancelled at the Deeds Office. This involves a legal process where an attorney ensures that the bank's claim on your property is removed from the public records. It is important to give your bank a 90-day notice if you plan to cancel your bond to avoid extra penalty fees. This stage is about tidying up your financial history so you can move forward with a clean slate. Ekhaya can guide you through the timelines of a smooth bond cancellation.
Can I settle my loan early?
Absolutely, and it is one of the best ways to save money. By paying even a few hundred Rand extra into your bond account every month, you reduce the capital amount you owe, which drastically cuts down the interest the bank charges you over time. For example, paying extra can shorten a 20 year loan by several years, potentially saving you a fortune in the long run. It gives you the freedom of debt-free ownership much sooner than expected. Ekhaya can guide you through calculating how much you can save by paying extra.
Can I change my bond term?
Yes, most South African banks allow you to choose between a 20 or 30-year bond term. While a longer term makes your monthly payments more affordable, a shorter term will see you paying significantly less interest over the life of the loan. Ekhaya can help you model both options to see which fits your long-term wealth goals.
What happens if interest rates rise?
If you have a variable interest rate, your monthly bond installment will increase if the South African Reserve Bank raises the repo rate. To protect yourself, it's wise to budget for a small buffer or inquire about a fixed interest rate option during your application. Ekhaya can guide you on the pros and cons of fixed versus variable rates based on current trends.