Wizard Blacklisted Home Loan

Wizard Blacklisted Home Loan

Wizard Blacklisted Home Loan

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Wizard Blacklisted Home Loan assists you to have your Home Loan Approved in no time. Try us NOW! We have high Home Loans for the blacklisted Approval Rates!

Wizard Blacklisted Home Loan

Wizard Financial Services assists home buyers in the process of applying for a home loan to all the major banks in South Africa in order to get you the right home loan at the best possible interest rate.

Wizard Blacklisted Home Loan

Tired of being denied a home loan by Banks? Wizard Blacklisted Home Loan assists you to have your Home Loan Approved in no time

Whether buying or renovating a property, our advice and services are free to the home buyer. We have extensive industry knowledge and experience enabling us to fast track negotiations with the banks. Our passion and determination drives the application process and gets your loan approved.

Wizard is a wholly owned subsidiary of oobalink (Pty) Ltd, which is a member of the ooba group. We pride ourselves on the fact that our business partners, including banks, rate Wizard among the best quality service providers in the mortgage origination industry. With our primary focus on mortgage origination and offering additional financial products and services, our model is driven by a network of owner-operated franchises and expanded through a network of franchise-linked sales offices.

Wizard Blacklisted Home Loan offers you

  • Free home loan application services
  • Quick and easy home loan applications
  • Useful tips and advice
  • Information on the documentation required by the banks
  • Guidance through the home buying process, keeping you up to date on the progress of your application

The Wizard Blacklisted Home Loan BOND process

When purchasing your property there are many parties involved, namely, the seller, the estate agent, the transferring attorney (appointed by seller to transfer the property to your name), the bond attorney (appointed by the bank granting the bond) and the cancellation attorney (appointed by the bank cancelling the bond of the seller). The same attorney could be dealing with more than one or all of the above transactions. You have identified your property and are ready to start! This could have been with the help of an estate agent or a private sale.

Step 1: Purchasing a property

You will sign an offer to purchase at the price that you are prepared to pay. If accepted by the seller, you then need to apply for a bond with a bank to arrange your finance. Wizard will take care of the hassle and apply for the bond on your behalf.

Step 2: Bond Approval

After the loan has been approved, it takes approximately 3 days for the bank to instruct the attorney to proceed with the registration of the bond.

Step 3: Property Transfer

The seller advises the Transferring Attorney to transfer the property. The title deed and cancellation figures are requested from the bank which currently has a bond over the property. A statement of rates and taxes is requested from the local authority.

Step 4: Bond Attorney contacts Transferring Attorney

The Bond Attorney advises the Transferring Attorney of the amount available for guarantees and requests the draft deed of transfer and guarantee requirements.

Step 5: Cancellation Attorney

The Cancellation Attorney is requested to cancel the seller’s bond upon receipt of a guarantee for the amount owing.

Step 6: Transferring Attorney

The Transferring Attorney receives the title deed and cancellation figures and sends a copy of the deed of transfer and the guarantee requirements to the Bond Attorney. The Transferring Attorney requests the buyer and seller to sign the transfer documents. The buyer pays the transfer costs and the Transferring Attorney then pays the rates and taxes and the transfer duty.

Step 7: Bond Attorney

The Bond Attorney prepares the bond documentation together with the relevant account. The buyer signs the documents and pays the costs. The Bond Attorney prepares and issues the necessary guarantees, forwards them to the Transferring Attorney and prepares the bond documents for lodgement in the Deeds Office.

Step 8: Transferring Attorney

Once the Transferring Attorney has received the guarantees, they are forwarded to the Cancellation Attorney.

Step 9: Cancellation Attorney

The Cancellation Attorney obtains consent to cancellation from the bank which holds the seller’s bond.

Step 10: Documents prepared for the Deeds Office

On completion of compilation of the documents by the attorneys, the documents are lodged simultaneously for registration. After +/- 10 working days from being lodged, the transaction is usually registered.

Step 11: Deeds Office

After receipt of the documents, the Deeds Office checks the documents before they are ready for registration.

Step 12: Bank pays out the loan

On the day of registration, the bank pays out the loan in accordance with the guarantees issued. Allow at least 3 months for the registration and transfer of the bond.

Pitfalls that delay the registration of your bond.

  • Failure by the seller and/or buyer to provide personal information
  • Failure by the seller to provide details of the bank holding the existing bond
  • The existing bondholder delaying/not providing cancellation figures and Title Deeds to the Transferring Attorney
  • Delay in receiving rates figures (local authority) and/or clearance certificate(Transferring Attorney)
  • Failure by the buyer to pay a deposit (if required)
  • Delay in the provision of guarantees
  • Failure by the buyer to pay bond and transfer costs on time
  • Delay by the seller in signing the transfer documents
  • Delay by the buyer in obtaining government capital subsidy approval/employee subsidy documents for new bondholders and failure to comply with other requirements of the bank
  • Delay by the buyer in signing transfer and/or bond documents when the Bond Attorney, Transferring Attorney and Cancellation Attorney are three separate firms

Whether you are looking for a bad credit or non blacklisted home loan, the application process is easy and very simple.

Documentation Required when applying:

  1. Green bar coded South African ID. (If you are South African).
  2. Latest 3 months bank statements.
  3. Latest salary advice (Payslip).
  4. List of all monthly expenses.
  5. Proof of residence.

Take Note:

  • Also make sure you have a valid banking account in which your salary gets paid.
  • Applicants should be over 21 years of age.
  • Be permanently employed.

These sub prime lenders specializes in home loans for people with bad credit, so in addition they charge higher interest points than a traditional lender. Compare your given rates as online mortgage rates can differ with as much as 5%. On the long run, this adds up to thousands. So before deciding on which lender you are going with, first make sure to compare, examine and analyze them. A good way to do this is to find an online mortgage loan website. This is a convenient way of comparing rates and quotes. Again, take a look around this page !

If you really do want to get into a new home, don’t allow bad credit to stop you. All it takes is some persistence since there are loads of sub prime lenders out there that can help you. All you need to do now, is follow through! Apply for your bad credit home loan today.

Contact  Wizard Blacklisted Home Loan

info@wizard.za.com

Wizard Home Loans providing assistance to Blacklisted People wanting loans to buy houses!

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Contact Us

Loans Arama
75 West Road North Rd, Morningside, Sandton
Johannesburg
Gauteng 2057
South Africa (ZA)
Telephone: 011 051 5537

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