Loan Transfers
Home Loan Transfers - Professional Conveyancing Attorneys To Handle Yours
Bert Smith Incorporated, established conveyancing attorneys in Gauteng, are on hand to assist you with a range of services relating to the acquisition, selling and registration of properties. Additionally, Bert Smith Inc. is experienced at helping those who wish to undertake home loan transfers and need to ensure the whole process goes smoothly, seamlessly and expediently.
Why undertake home loan transfers?
The benefit of owning property is that you have already ‘broken in’ the ‘first time bond’ beast and you are more likely to have gained an element of trust with financing institutions. This makes it easier for those considering home loan transfers to transfer their existing home loan to another property. However, easier does not always mean less complicated, which is why it always pays to have an experienced and established conveyancing attorney on your side.
What happens before home loan transfers?
The parties who are going to be acquiring the original property which you financed with your home loan need to obviously ensure that they have finances secured and guarantees in place with their banks, as well as registering their home loan. Only then can the current bond be cancelled or home loan transfers take place. If cancelled, the requisite paperwork for same must be registered at the Deeds Office and, once the new loan is activated it obviously also has to undergo the same registration process.
Other issues affecting home loan transfers
Other considerations when undertaking home loan transfers include the obtaining of rates clearance certificates from the local municipality and complying with other provisions of the Deeds Office relating to the new bond. The registration of the new property obtained via the home loan transfers into your name will then be done.
Contact Bert Smith Incorporated next time you are seeking experienced advice or assistance when it comes to home loan transfers and how to go about them.