WHY SHOULD I CHANGE FROM MY CURRENT BONDHOLDER?

Homeowners switch their bonds for different reasons:
1. Better interest rates – if your bond is older than 3 years, chances are good that you’re paying Prime or Prime+. With us you could pay as little as Prime -2%
Example:

Current Bond
Remaining term
Interest rate
Monthly Payment
Savings per month
Savings over term
R 800,000
17 Yrs
Prime (11%)
R 8.683
New Bond
Remaining term
Interest rate
Monthly Payment
R 807,000
17 Yrs
Prime-2(9%)
R7,737
R 946
R 206,571

Or, you can continue paying R 8,683 per month and settle your bond in only 13 years!

2. Debt Consolidation – allows you to pay off your other debt(like cars, credit cards, loans etc), at a much lower interest rate
Example:
R600,000 Bond(20yrs) & R 200,000 Car – Combining in R 800,000 Bond

Current Bond
Remaining term
Interest rate
Monthly Payment
Savings per month
Savings over term
R 6,193
R 4,712
11%
R 10,905
New Bond
Remaining term
Interest rate
Monthly Payment
R 7,197
R 0
9%
R 7,197
R 3,708
-

Or, you can continue paying R 10,905 per month and settle your bond in only 8,92 years! This saves you a massive 11 years on your bond!

3. Cash Flow – homeowners with older bonds are likely to have equity in their properties(the property is worth more than what the outstanding bond is). This equity can be converted into cash in the hands of the homeowner.
Example: PROPERTY VALUE: R 1,000,000

Current Bond
New Bond
Old Repayment
New Repayment
Monthly incr.
Cash in hand
R 600,000
R 800,000
R 6,193
R 7,197
R 1,004
R 200,000 *

* Total cost of new Bond ± R 7,000 – Bond costs are discounted at 50% through our partner conveyancors and you are allowed to add these costs to your principle debt

 

SmartCredit now offers a wide range of solutions for home owners. We can place your bond with Absa, FNB, Standard Bank, Nedbank, SANLAM or Old Mutual – with interest rates from as low as Prime less 2%! Also, our special arrangement with service providers allows you a massive 50% saving in registration costs.

Allow our friendly call centre staff to find the best deal possible for you.

To qualify
• Earn at least R3 500 per month
• Possess a valid South African ID number
• Be over 21 years
• Have been employed for a minimum of 3 years
• Have stayed at your current address for at least 3 years or be a home owner
• Have a clean credit record

Loan & Asset Finance Repayment Schedule
The following table is an indication of repayment premiums on loans & asset finance:

Amount
18months
18months 24months
36months
48months
60months
R4 000
R 231
R 183
R 156
R 141
R6 000
R 342
R 269
R 229
R 206
R8 000
R 465
R 355
R 302
R 272
R10 000
R 578
R 442
R 376
R 337
R12 000
R 840
R 674
R 510
R 429
R 382
R14 000
R 979
R 785
R 593
R 499
R 444
R16 000
R1 117
R 895
R 676
R 569
R 506
R18 000
R1 256
R1 006
R 759
R 638
R 568
R20 000
R1 394
R1 117
R 843
R 708
R 630
R22 000
R1 532
R1 227
R 926
R 778
R 692
R24 000
R1 671
R1 338
R1 009
R 848
R 754
R26 000
R1 809
R1 449
R1 092
R 918
R 816
R28 000
R1 947
R1 559
R1 176
R 988
R 878
R30 000
R2 086
R1 670
R1 259
R1 057
R 940

 

Insurances
We offer a unique range of insurances, designed at protecting the assets you finance. Comprehensive Insurance will cover your assets against theft and damage. Credit Life and Top-up policies will protect you and your family in the event of unfortunate events such as death or disability, and extended warranties will provide you with peace of mind after the expiry of the manufacturer’s warranty.