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Home Loan and Mortgage Disclosure Act, 2000

Regulations

Home Loan and Mortgage Disclosure Regulations

Appendices

Appendix "A" : Information to be submitted in respect of each application to be captured, retained and submitted to the office

 

 

1.        Name of Financial Institution

 

2.        Name of Branch

 

3.        Property Description

(a) Erf No./Unit No.
(b) Street
(c) Township
(d) Municipality
(e) Province

 

4.        Type of home loan

(a) Mortgage loan
(b) Pension or provident fund secured loan
(c) Housing micro loan
(d) Instalment sale under Chapter II of the Alienation of Land Act, 1981
(e) Other

 

5. Accepted security available in respect of the home loan
(a) Mortgage bond
(b) Covering mortgage bond
(c) Pension or provident fund guarantee
(d) Loan guarantee policy
(e) Life policy
(f) Other

 

6. Use for which home loan is required
(a) Purchase of existing home
(b) Building of new home
(c) Improvement of existing home
(d) Other

 

7. Home loan amount applied for (to the nearest R1 000,00)

 

8. Nature of application
(a) individual
(b) Joint
(c) Legal entity (close corporation, company or trust)

 

9. Proposed repayment to income ratio

 

10. Proposed loan to value ratio (in the case of a mortgage loan)

 

11. Status of applicant (if individual application)
(a) Never married
(b) Married
(c) Divorced or separated
(d) Widowed

 

12. Status of applicant (if joint application)
(a) Married - under civil law
(b) Married - under customary law
(c) Co-habiting
(d) Co-resident (e.g. application by mother and daughter or two brothers and sister)

 

13. Gender of applicant (If a joint application, specify the gender of both or all of the applicants. If the applicant is a juristic person, specify the gender of the majority of the members.)

(a)        Male

(b)        Female

 

14. Race of applicant (If a joint application, specify the race of both or all of the applicants. If the applicant is a juristic person, specify the race of the predominant group of members of the entity.)

(a)        African

(b)        Coloured

(c)        White

(d)        Indian

(e)        Other

 

15. Income category

 

R0 - R3500


R3501 - R5500


R5501 - R7500


R7501 - R10000


R10001 - R15000


R15001 and above


 

16. Status of Application
(a) Approved
(i) Taken up
(ii) Not taken up
(b) Declined
(c) Pending

 

17. Reason/s (if declined)
(a) Applicant specific
(i) Low repayment capacity
(ii) Unacceptable credit record
(iii) Irregular income
(iv) Accepted security requirements not met
(v) Required repayment period exceeds the period to retirement age
(vi) Nature of relationship between joint applicants not conducive to meeting repayment obligations
(vii) Other (specify)
(b) Property specific
(i) Unacceptable loan to value ratio, where applicable
(ii) Building does not comply with the requirements of the National Home Builders Registration Council under the Housing Consumer Protection Measures Act, 1998 (Act No. 95 of 1998) or applicable municipal by-laws
(iii) Sectional title building with inadequate body corporate governance
(iv) Arrears on municipal service fees, surcharges on fees, property rates and other municipal taxes, levies and duties
(c) Area specific
(i) Boycott of rent, mortgage loans or service payments
(ii) The sheriff of the court is likely to be obstructed in carrying out statutory functions
(iii) Financial institutions are prevented from obtaining vacant occupation of a property in possession
(iv) The municipality is unable to enforce the collection of municipal service fees, surcharges on fees, property rates and other municipal taxes, levies and duties
(v) The municipality is unable to enforce laws and by-laws against overcrowding or illegal land use
(vi) The market value of properties is either declining or appears likely to decline
(vii) Properties in possession cannot, or are unlikely to be sold for sufficient value to cover outstanding home loan balances or are unlikely to be let at a rate of return that is feasible
(viii) Other (specify)
(d) Institution specific
(i) Unacceptable exposure
(ii) Unacceptable collection method

 


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