Rating based on 17 reviews

Mortgage Market

Updated

  • Compare home loans
  • Low-interest starting from 5%
  • Repayment up to 30 years

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Mortgage Market homepage

Author Mortgage Market. Screenshot of Mortgage Market website. [Accessed March 2, 2021]

About Mortgage Market

The hunt for a new home can be one of life's most exciting experiences.

In contrast, the hunt for a home loan that perfectly suits your circumstances can be an utter nightmare. This is where Mortgage Market steps in.

They have developed an online home loan comparison service to make the application process as stress-free as possible.

Mortgage market offers you a clear cut application process that takes place entirely online. They make sure that your application reaches the top Banking institutions in South Africa.

Better yet, you can expect the loan offers to start pouring in within 72 hours. Mortgage Market has a well-spring of information and expert advice to assist you at any point.

The benefits of signing up with Mortgage Market:

  • When your bond is approved, the Mortgage Market will pay you between R5,000 and R25,000!
  • You apply once and get feedback from multiple sources
  • You don't have to attend awkward meetings with the bank ending in uncertainty
  • The choice of home loan is yours, and you can base it on the deal that works best for you
  • Mortgage Market's expert consultants are there to provide you with assistance throughout the process.

You can also make use of Mortgage Market's other exceptional tools. They offer you the use of several calculators, including the bond calculator.

It allows you to enter your financial information and estimate the home loan you are most likely to qualify for.

Apply for your home loan through Mortgage Market, and you won't spend the next 30 years regretting not shopping around for the perfect home loan.

What Mortgage Market can offer you

Mortgage Market's website works in real-time.

This means that once the forms are submitted, your mortgage application will go to five of South Africa's most sought after home loan providers.

Your information will be processed by the banks before the following checks are done:

Credit Score

Before any financial institution extends a loan to you, they want to know how well you have paid your past debts and how you deal with debt in the present.

This is called a risk assessment, and it will play a big roll in whether or not your loan is approved and how much interest you'll be charged.

Your credit score is based on your credit history. A high credit score is awarded to those who have paid off debt responsibly and continue to do so. Credit providers reward this behaviour by offering you much lower interest rates and extending you more favourable loan terms.

Affordability check

This check is a safety measure put in place by the National Credit Regulation to protect you from becoming over-indebted.

Every NCR accredited lender will do an affordability check based on your income, savings, expenses, debt and a few other factors to ensure the loan you have applied for won't be harmful to your financial situation.

If your financial situation is less than favourable, it won't hurt to take a little time to improve it before applying for a home loan.

You can improve both your credit score and your affordability check results by:

  • Paying off lingering store accounts
  • Making sure all your debt payments are on time
  • Paying off personal loans before the end of the loan terms
  • Keeping your credit cards well below your credit limit

Buying a house isn't an impulse decision, so while you are improving your financial status, it's a fantastic time to funnel any extra money into your deposit savings account. You could also open an additional savings account to cover the extras like transfer costs, registration costs, and rates and taxes.

Mortgage Market Property finance

  • Loan Type Property finance
  • Interest Rate 513% p/a
  • Repayment 15 years to 30 years

Benefits of Mortgage Market

  • Pre-approval won't affect your credit score
  • Compare home loans
  • Get pre-approval in 2 minutes

Mortgage Market gives you a share of the profits once the papers are signed!

Before you get cracking at that application form, you'll need to create your Mortgage Market user profile.

Your profile will give you access to tips and tools as well as instant access to updates on your application status. Mortgage Market created their platform to be used to compare each home loan offer as they come in.

Next, fill out the pre-approval application form and get a certificate. The pre-approval process consists of an affordability check and works out your credit score. Mortgage Market will calculate the loan amount you are most likely to qualify for. Depending on the results, you may need more time to improve your credit score before continuing with the process.

Mortgage Market estimates that if you have all the necessary documentation on-hand, the whole application form shouldn't take more than half-an-hour from start to send. If you are co-signing the home loan agreement with a partner, you'll need their documentation handy as well.

Some of the paperwork you'll be asked for will be as follows:

  • A copy of your Id
  • Bank statements that show your transaction history for the last three months
  • Your most recent payslip
  • A copy of the purchase agreement

Buying a home is a worthwhile long-term commitment. The process is daunting, but Mortgage Market aims to smooth the road to your new home. Apply now and reap the Mortgage Market money guarantee!

Customer Reviews & Testimonials

October 2020

Mortgage Market is the best! Their consultants are professional and friendly and the process is efficient.

Linda S
— Pretoria —

March 2020

I found Mortgage Market’s service fantastic and being able to do it in comfort at home was also a blessing!

Brad S
— George —

August 2020

Everything went smoothly thanks to Mortgage Market. And the money they paid us was the cherry on top!

Elen H
— Springbok —

Mortgage Market Contact Details

Physical Address

Opening Hours

  • Monday Open – 24 Hours
  • Tuesday Open – 24 Hours
  • Wednesday Open – 24 Hours
  • Thursday Open – 24 Hours
  • Friday Open – 24 Hours
  • Saturday Open – 24 Hours
  • Sunday Open – 24 Hours