NBS`s exit from the home loans market as a lender last year has resulted in a new entrant into the mortgage origination market which is using the Internet to target homebuyers directly.
Bond Choice was established by NBS after the bank sold its mortgage book to FirstRand, although NBS does not own the company.
The business acts independently, sourcing and arranging loans from Absa, First National Bank, Nedcor, Standard Bank and BOE specialist divisions.
Bond Choice has appointed Comcorp as its technology partner. The Comcorp-developed BondTrak enables the electronic capture, submission and tracking of home loan applications.
Bond Choice MD Mark Beckett says the system is a proven one, well known to the banks and already being used by the mortgage origination industry to process more than R2 billion worth of home loan applications a month.
"Dependability and speed are going to become increasingly important to us as we pursue our plans to grow turnover to at least R500 million a month within the next year," he says.
Other companies in the online mortgage market include MortgageSA.com, BondNet and Wizard.
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