Self-employed buyers – make the bond application stress-free
If you are self-employed and looking into buying a home for yourself, make sure you have all the paperwork ready, so that you can save time and start looking for your dream home.
There is more paperwork involved if you are a self-employed person, especially if you are trying to obtain a bond. No matter how well your business is doing, questions will be asked, and proof must be given
Requirements for a self-employed bond applicant:
- A three-month utility bill
- A copy of your ID
- A recent IT 34 (SARS acknowledgment of tax return and statement of monies owed)
- A letter from your accountant stating your overall gross profit and earnings for the past year (or more)
- The last three months bank statements - both business and personal
If you are not buying the house alone, your partner (if self-employed) will also be required to submit all this information. If you are married, you will need to submit registered copies of your marriage certificate too.
Requirements for individuals employed by a company
- A copy of your ID
- A three-month utility bill
- Your tax number
- Three months bank statements
- Letter of employment
- Most recent payslip
Get all the paperwork ready before going to a mortgage originator he or she will only tell you to get all these ready before they can even start with your application. So save yourself the time and get all your statements and documents in place and go to a reputable bond originator with confidence. A bond originator will source the best deal from a number of institutions given your particular circumstances.
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