BetterBond Pre-Approval is a smart tool for South Africans looking to buy property. It allows you to check your home loan affordability for free, entirely online. Faster bond approval and more competitive offers from sellers await.

With BetterBond, pre-approval involves a simple application with your financial details. You’ll get a credit check and access to an estimated maximum home loan amount, all at no cost to you.

How to Apply for BetterBond Pre-Approval

First, gather personal details, income statements and financial records.

Next, complete the BetterBond pre-approval form with your information. Submit supporting documents and authorise a credit check.

Your application is then processed by an expert consultant. Within a short time, you receive a pre-approval certificate.

The certificate is valid for 90 days, allowing you to confidently shop for homes.

Pros of BetterBond Pre-Approval

Firstly, the process is 100% free and can be done from anywhere online. There’s no obligation or hidden fees.

Secondly, it greatly increases your chance of bond approval, thanks to thorough affordability checks and a 90% approval success rate for pre-approved buyers.

Cons of BetterBond Pre-Approval

One drawback is that pre-approval is not a binding bank offer, so final amounts may differ slightly after full application and valuation.

Also, you must reapply if more than 90 days pass without buying a property as the certificate expires.

Verdict

In summary, BetterBond Pre-Approval is a convenient, risk-free way to get financial clarity and boost your negotiating power when house-hunting in South Africa.