 |
|
 |
 |
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
|
Frequently Asked Questions
|
||
|
How does PCS work? |
|
|
Our consultant will submit your application after advising you as to the most appropriate home loan options to suit your needs, at the participating banks. Offers received from the participating lender(s) will be discussed with you, whereby you can decide on the best home loan to satisfy your needs.
|
||
|
|
What are the benefits of using PCS? |
|
|
Mortgage origination is basically about finding the best suitable finance for your home loan. At PCS we all have vast banking experience, with specific experience at all levels in the banking environment regarding the financing of home loans. Furthermore, PCS does not enter into any contracts with any party in the mortgage industry. We believe that you, the home buyer, as well as the estate agent must have the freedom to choose who you want to work with, primarily because we are purely service driven.
|
||
|
|
How long will it take to approve my loan? |
|
|
The normal turnaround time for approval is within 24 hours. Our consultant will then advise you as to the conditions, if any, to the offer. Upon your acceptance, valuation of the property will be done within 48 hours.
|
||
|
|
What documentation do I need to submit to apply for a home loan? |
|
|
Our consultant will inform you upfront of all the information and documentation needed and assist you in submitting a complete application.
|
||
|
|
What purchase price category do I qualify for before I enter into a sales agreement? |
|
|
If you already have a house that you are interested in, please use our calculator to ascertain what loan amount you qualify for.
|
||
|
|
How will I be able to determine the status of my application? |
|
|
Our consultant will keep you informed from the moment you apply for the loan right through to the registration of your bond. Your dedicated consultant will also be available at your convenience for any questions or services that you require.
|
||
|
|
I live outside South Africa. Can I use PCS to obtain a loan? |
|
|
Provided the property against which you want to raise the loan is situated within South Africa, you can apply from anywhere in the world. If you are not a South African citizen, you may, however, have to comply with the relevant Exchange Control Laws and Regulations as well as certain regulations laid down by the South African Reserve Bank.
|
||
|
|
If I have an Upfront Bond (pre-approved) how will I obtain finance to purchase the house that I want? |
|
|
Whether the pre-approval has been obtained through PCS or not, you only need to inform our consultant, who will assist you in submitting your application.
|
||
|
|
How does a bank evaluate my application? |
|
|
Credit assessment is based on your credit worthiness (i.e. your credit profile), the affordability of the loan and the value of the property. The information obtained from the application and supporting documentation is captured into the particular bank's credit scoring system for evaluation.
|
||
|
|
How is the interest rate determined? |
|
|
The interest rate offered by a bank reflects the price the bank allocates to a transaction based on the applicant's credit profile, ability to repay the loan and the applicant's equity in the property.
|
||
|
|
Who will see my application? |
|
|
Only PCS and the participating bank will see your application details.
|
||
|
|
My questions were not answered here. How can I contact PCS? |
|
|
Click here to send us a question by email, or contact us by phone or fax if you wish. We will be glad to assist you.
|
||