FAQ’s

No – the service of a bond originator is free. The banks pay the bond originator a professional fee as the bond originators are contracted to the bank.

Your original title deed will be sent to the financial institution as additional security for the loan after the bond has been registered.

No. Even in cases where your bond is settled in full, the bond still needs to be cancelled in the deeds office and a fee will be payable to the attorneys attending to the cancellation of the bond in the deeds office.

The National Credit Act 34 of 2005, allows banks to charge an amount for initiation fees to cover their administration costs. You may elect to have the Initiation Fee added to the principal debt or to pay it as part of your costs, before registration of the bond.

These fees are the attorney costs, as per the recommended fees of the Law Society, for their service of registering your bond at the deeds office. It is paid to the bond attorney before registration.

No. The bank will have a specific local panel of conveyancers which is authorised to register bonds. Find out if your preferred conveyancer is on the panel of conveyancers before you request the bank to send the instruction to the conveyancer.

This document instructs the bank to issue guarantees and to make payment of the borrowed funds on the date of registration.