End User Finance

End User Finance mortgage originator offers a service to all home buyers assisting you with your home loan application. We have over 20 years’ experience in bond origination and are affiliated with Mortgage Max. We have a well-established relationships with nine of the country’s leading banks.

End User Finance has received the award for the Best Independent Bond Originator in South Africa for 14 years while in association with Mortgage Max.
This includes receiving the award: National Winners Developments, for the past two years.

Our core principles of Ownership, Integrity, Team Work and Efficiency guarantee success and cement our position as market leader.

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About

Our mission

Our mission is to develop knowledge and understanding of the property market, to cultivate innovative, unique perspectives in the property industry and to give clients peace of mind in knowing their properties are well managed and cared for.

We employ experienced individuals who are passionate about what they do and aspire to be the best. We aim to deliver a personal transparent client service through expert knowledge and technology that will exceed expectations.

Our vision

Our vision is to become the leading Property Group in the industry, specialising in Home Loan Origination, Sales, Rentals and Management and thereby fulfilling all our clients' property needs.

Our Services

End User Finance is a professional, personal and financial service provider in the housing market.

We pride ourselves on providing clients with reliable, home financing. Our proud banking partners include the following institutions:

  • Absa
  • First National Bank
  • First National Bank Housing Finance
  • Housing Investment Partners
  • Investec
  • Nedbank
  • Rand Merchant Bank
  • Standard Bank
  • SA Home Loans

The fees you pay to the bank and attorneys will remain the same, irrespective of whether you use our services or not. Our service is free of charge. There are no hidden costs.

We track the application on your behalf; hence we are the point of contact once the application has been submitted within 48 hours and we assist to obtain the lowest possible rate on your behalf.

Our experienced and friendly consultants will help guide you through every step of the home buying process and are on call to help you through the process.

Products

Residential Finance

Is the financing of a privately owned property for residential purposes approved by a financial institution, eg. ABSA, FNB, Standard Bank, Nedbank and SA Home Loans.

Residential properties range from free standing units, Villas, Cottages, Apartments and many more. Ownership can be held by various entities i.e. Private individuals, Trusts, Close Corporations and is subject to the requirements of the bank.

Upon receiving approval from a Financial Institution and the client accepts the relevant financial institution offer in writing, a bond attorney will be instructed to proceed. The process of transferring the property into your name takes approximately 2-4 months.

The bond amount financed excludes registration and transfer costs. Residential Finance includes both Sectional Title and Full Title properties.

Building Loans

The purpose of a building loan is to finance the construction of a top structure.

The loan is obtained with the intention of erecting a new structure according to building specifications.

In majority of cases vacant stand and the structure can be financed simultaneously. However it is possible to apply for a building loan should you have a vacant stand registered in your name.

Once registered the purchase price of the stand will be paid to the seller. The balance of the loan will be paid to the builder in advanced stages in accordance with building phases. Payment to the builder will only be processed if the bank is satisfied that all their conditions and specifications have been met. No payment may be made without the owner's authorisation.

An important point to remember - The bank will only pay out for work that has been completed and will ensure that there are adequate funds available. The bank will only pay the final instalment once all the work is done.

Affordable Housing

The Affordable Housing market is defined very similarly by the different financial institutions yet each bank has a different criteria. For finance purposes the affordable market is categorized according to income.

Affordable Housing products have been tailored to cater directly to the needs of the low-and very low-income income households.

The Affordable Housing is the fastest growing market in South Africa and has become a specialised financial sector.

Further Advances

This is also known as a second bond and is usually utilised to finance improvements to an existing property or to finance the top structure on vacant land.

These loans are only available to existing home owners. The loan allows the home owner the opportunity to renovate and improve the property and gain the full value of the property on a resale.

Please note that the application, qualification and assessment process of a Further Advance is the same as that of a New Loan application. The bank requires 3 market related quotations for improvements along with the application.

Home Loan Qualification

In addition to possessing a good credit record, each bank has their own scoring system which rates you according to your payment profile, income, expenses and your Experian/TransUnion Profile. Please note that your monthly loan repayment may not exceed 30% of your monthly income.

Max Installment Capacity

Gross Income x (30%)
R15 000 x 30% = R4 500

Monthly Installment

Loan amount ÷ (1000) x (factor)
R500 000.00 ÷ 1000 x 9.00 = R4 500.00

Max Home Loan Capacity

Gross Income x (30%) ÷ (factor) x (1000)
R15 000.00 x 30% ÷ 9.00x 1000 = R500 000.00

RTI Calculation

Monthly Installment ÷ (Gross Income) x (100)
R4 500.00 ÷ R15 000.00 x 100 = 30

- Affordability Reference Table (BetterBond)
Interest rate (factor) subject to change
Kindly view our calculator options to see what you could qualify for.

Documentation Required

This would be determined by your employment status.
Please choose your current employment status to view the documents required.

Fixed Salary Earner

Without receiving commission, overtime or allowances.

  • Completed home loan application form.
  • Clear copy of ID.
  • Latest 3 months payslips.
  • Latest 3 months bank account statements.
  • DEA consent form attached to home loan application form to provide banks permission to draw additional bank statements.

Commission Earner

Receiving commission, overtime or allowances.

  • Completed home loan application form.
  • Clear copy of ID.
  • Latest 6 months payslips.
  • Latest 6 months bank account statements.
  • DEA consent form attached to home loan application form to provide banks permission to draw additional bank statements.

Self-Employed Earner

  • Completed application form
  • Clear Copy ID.
  • Latest 6 months payslips or Auditors letter confirming monthly income.
  • Latest 3 Years IT34.
  • Latest 6 months bank statements (Personal Bank Statements as well as Business Bank Statements).
  • Latest 3 years audited financials.
  • Latest 12 months audited management accounts.
  • Registration documentation.
  • Lease agreements for rental income (If Applicable).
  • DEA consent form attached to home loan application form to provide banks permission to draw additional bank statements for both personal and business accounts.

Trust

  • Completed application form.
  • Clear Copy of all trustees ID's.
  • Latest 6 months payslips.
  • Latest 6 months bank statements (All Trustees Bank Statements as well as Trust Bank Statements).
  • Trust deed
  • Letter of Authority.
  • Resolution.
  • Latest 3 years audited financials.
  • Latest 12 months audited management accounts.
  • Lease agreements for rental income (If Applicable).
  • DEA consent form attached to home loan application form to provide banks permission to draw additional bank statements for both personal and business accounts.

1st Bond on Unbonded Property

  • Completed application form.
  • Clear copy of ID.
  • Latest 6 months payslips or Latest proof of pension (on letterhead).
  • Latest 6 months bank account statements.
  • DEA consent form attached to home loan application form to provide banks permission to draw additional bank statements.
  • Property details to be provided (Title Deed or Water and Electrical Statement).
  • Quotation to be provided for the amount of alterations on property.

Contact Us

Our experienced team is dedicated and will assist you in finding the best home loan deal to suit your needs.

End User Finance (Pty) Ltd

Tel: +27 (011) 805 6316
E-mail: info@euf.co.za

Building F, Third Floor
Hertford Office Park
90 Bekker Street
Midrand, 0185

PO Box 12135
Hatfield, 0028

Our office hours are 7h30am to 16h30pm, Monday to Thursday and 7h30am to 15h30pm, Friday
We are closed on weekends and on public holidays.