Applying for a home loan? What you need to know about private banks vs bond originators

Africa Melane speaks to Eric Weddell, a Property Finance Specialist and Bond Originator at Bonds Are Us.

Listen below.

Private bankers are often the first point of call for home buyers.

However, they are tasked with getting the best deal for the bank and not the client.

Bond originators on the other hand work to get the best deal for the client. 

Once your home loan rate is determined by the rate review department, originators will approach several banks on your behalf for the best deal.

“We can negotiate between the banks and get you a better rate by showing the banks what has been offered and get them to offer a better rate… Every little bit that we can shave off turns into thousands of Rands per year.”

- Eric Weddell, Bonds Are Us

There is no additional cost to clients, originators get their commission from the bank (irrespective of the bank).

“My sole duty is simply to squeeze the best possible rate from the banks on behalf of my client and get all the discounts possible.”

- Eric Weddell, Bonds Are Us

Scroll up to the audio player to listen to the discussion