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Bond Consolidation

Bond ConsolidationIf you own property, that has equity in it, we can assist you with a bond consolidation loan, whether you have a good credit rating or not. In order to qualify, the amount owed to your creditor providers added to the amount owed on your bond, cannot exceed 70% of the value of your property. You also need to earn a specific income, in line with the loan granted, in order to qualify for the bond consolidation loan.

For the first year your average interest rate on this loan is 16% and for the remaining period of the loan it will be reduced to the prime lending rate at the time. All bond costs are included in the bond consolidation.

WHAT WE CAN DO FOR YOU 

Municipal Valuation

Actual Value of the property

R 1 000 000.00

Bond Consolidation Loan

Can only be up to 70% of the Municipal Valuation

R 700 000.00

YOUR CURRENT SITUATION

Outstanding Bond

What you are still owing on the Home Loan

R 350 000.00

Outstanding Unsecured Debt

Loans, Credit Cards, Clothing Accounts, Bills etc

R 112 480.00

TOTAL DEBT

Secured (Home Loan) and Unsecured (Other) – combined

R 462 480.00

SALARY REQUIRED TO QUALIFY AND MONTHLY BOND INSTALMENT

Salary to qualify for R462 480,00

Salary must be in line with the bond granted

R 20 192.99

Bond Instalment on R462480,00

For the first year @ 16%

R 7 293.07

From 13 – 240 months

R 4 310.92

  1. For the first year of the bond consolidation the instalment will be 16% as per example R7293.07
  2. From month 13 – 240 your instalment will be reduced in line with the prime lending rate.
  3. Credit Report is cleared after 12 months
  4. All costs are included in the bond consolidation.

Go Back and Apply Now

Fast track your way to debt freedom

 

 

  • Standard Bank
  • Nedbank
  • wonga.com
  • Woolworths
  • Mr Price
  • DirectAxis
  • Truworths
  • Foschini
  • South African Debt Review and Credit Repair Service
  • South African Debt Review and Credit Repair Service