What qualifies as Income for a Mortgage Bond

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The Property Corner with Rowan Alexander

Rowan Alexander

70 episodes

3 days ago

Welcome to The Property Corner with Rowan Alexander, Founder and Director of Alexander Swart Property Group. In this podcast series, Rowan takes a deep dive into the South African property market and shares his expertise, insights and knowledge with listeners. Through his extensive experience in the industry, Rowan provides valuable information on a wide range of topics related to the South African property market, including market trends, property investment opportunities, the buying and selling process, and much more.

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What qualifies as Income for a Mortgage Bond | South African Real Estate

The Property Corner with Rowan Alexander

16 minutes 11 seconds

1 month ago

What qualifies as Income for a Mortgage Bond | South African Real Estate

Not all income is seen the same way by the banks. In this episode we explain how banks view different income sources when calculating affordability.

We cover salaries, wages, overtime, commissions, shift allowances, bonuses, rental income, maintenance, and even investment income. Each bank applies its own rules and percentages, which means not all of your earnings may count in full.

We also highlight what proof you need, why consistency matters, and how a mortgage originator can help match your income to the right bank.

If you are applying for your first bond or growing a property portfolio, this guide will help you understand exactly what counts as income.

In this episode:

00:00 Introduction

00:44 Salaried Income Earner

01:42 Wage Earner

03:13 Overtime

04:20 Commissions

06:44 Shift Allowances

07:18 Investment Income

08:06 Bonuses

09:21 Maintenance (Child Support)

10:53 Rental Income

13:36 Side Hustles

#BondApplication #PropertyInvestingSA #HomeLoanTips #MortgageAdvice #SouthAfricaRealEstate

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