BOND CONSOLIDATION
RE-EVALUATE YOUR EXISTING HOME LOAN
Refinancing your property unlocks new financial opportunities, offering flexibility, potential savings, and the possibility of securing a better interest rate. Leverage your property's increased value for debt consolidation , purchases, education, a dream holiday, or home improvements—the decision is yours.
BENEFITS
EXISTING HOME LOAN CUSTOMERS
If you are credit-clear and looking to raise additional finance on your home loan, bond consolidation may be one of the most effective ways to improve your cash flow and restructure your finances. Consolidation allows you to use the available value in your property to settle high-interest debt and reduce your monthly obligations - all under one affordable, manageable repayment.
To qualify, you must have a clear credit record, be up to date with all your bond and debt repayments, and show sufficient affordability for your monthly expenses.
Why Consider Bond Consolidation?
🔹 Lower Interest Costs
Home loan interest rates are significantly lower than credit cards, personal loans, and store accounts. Consolidating your debt into your bond helps reduce the total interest you pay over time.
🔹 Improved Monthly Cash Flow
By combining multiple debts into one lower-rate repayment, you free up money each month - easing financial pressure and helping you breathe again.
🔹 Access to Equity
Use your property’s available value to fund important goals such as home improvements, education, business needs, or personal expenses.
🔹 Structured Repayment That Protects You
When consolidating your debt, we calculate an estimated additional monthly amount.
This ensures you still repay the consolidated debt over its original loan term - but now at a much lower home loan interest rate.
You save on interest without extending the debt unnecessarily over the full bond term.
At DEBT2BOND, we make the consolidation process seamless, transparent, and tailored to your financial wellbeing. Our goal is to help you reduce financial pressure, lower your repayments, and unlock the flexibility your property can offer.
Let us guide you toward better savings, smarter repayments, and a stronger financial future.
GUIDELINE TO APPLICATION PROCESS
DOCUMENTATION
Employed Individual(s)
- *Required by both applicants in the event of a joint application
- Completed Online Application
- Copy of ID(s)
- Payslips: Last 3 months (6 months if earning regular overtime or commission)
- Bank Statements: Last 3 months personal bank statement
- Rental Agreement: If additional income is earned, rental income must be into a bank account
- Maintenance order: Payments must be reflected on your bank statement
These documents are essential for processing your home loan application efficiently..
PRE-ASSESSMENT & SUBMISSION PROCESS
Before applying for a home loan, a pre-assessment ensures a smooth process.
- Credit Check: A clean credit report with no adverse listings boosts your application success.
- Affordability Check: DEBT2BOND will assess your income, debt, and living expenses to determine affordability.
- Application Process: DEBT2BOND submits, motivates, and follows up with multiple banks. Once approved in principle, a property valuation is conducted. If sufficient, a Final Approval is issued, including homeowners insurance, and registration instructions are sent to attorneys.
- Credit check warning: Avoid taking on new debt or maximizing credit, as it may jeopardize the application during final credit checks.
- Important: If you plan to use funds from your home loan for major purchases, debt consolidation, or shortening your bond term, we suggest making extra payments to quickly reduce the capital amount. The exact amount will vary based on the current variable interest rate for your home loan.
COSTS
- Initiation Fee: This fee is charged by the new financial institution upon approval of your application. It can be paid in cash or, more commonly, added to the capital amount of your bond.
- Registration Cost: This is the fee charged by the attorneys appointed to register your new bond, calculated based on the registered bond amount.
- DEBT2BOND Professional Fee: This fee applies only to successfully approved & accepted home loans and is deducted from the proceeds on the date of registration. If your home loan application is not approved, there will be no charge. DEBT2BOND prioritizes transparency and client-focused service, ensuring fees are only incurred upon successful approval. We do not require any upfront payments, making the bond application process as affordable and stress-free as possible.
- CANCELLATION NOTICE: When switching, the new bank's registration attorneys will request the cancellation of your existing bond — which triggers a cancellation. Here's what you can do:
- Option 1: Give notice & wait out the 90 days
- Either you or the nominated attorneys submits a cancellation notice, wait the full 90 days.
- No penalty fee
- But the process is delayed until the 90 days expire.
- Option 2: Give Notice & Proceed Immediately
- You don’t have to wait out the full 90 days
- You still pay your regular monthly instalments as usual
- You’ll only be charged pro-rata interest for the days remaining in the 90-day period at the time your bond is settled
💡 Example: If you cancel after 45 days, you only pay the interest for the remaining 45 days — not a full 3 months' instalment.
BOND REGISTRATION PROCESS
After your home loan application is approved by the financial institution and you accept the offer, the process is as follows:
- Instruction to Registration Attorney: Upon accepting the Final Approval, the registration attorneys are instructed to initiate the registration of the new "switched" bond. They will liaise with the existing bank’s cancellation attorneys to cancel the current bond.
- Document Signing: Once all conditions of the new bond are satisfied, the registration attorneys will contact you to sign the required documents. After signing, they will prepare the paperwork for lodgement at the Deeds Office.
- Deeds Office Registration: The bond registration typically takes 7–14 business days after lodgement, provided all conditions are fulfilled. Once registered, the attorneys will disburse funds from the new bond to settle the existing bond, cover costs, fees, and any specified accounts.
- Confirmation Letter: The new financial institution will issue a confirmation letter detailing repayment terms once the bond is registered.
PROTECTION
INSURANCE
LAST WILL & TESTAMENT
LAST WILL & TESTAMENT
Life & home insurance provide financial security ensuring peace of mind for life's uncertainties.
LAST WILL & TESTAMENT
LAST WILL & TESTAMENT
LAST WILL & TESTAMENT
Ensure you legacy is honoured, assets distributed and loved ones protected with a Will.
CONTACT US
GET IN TOUCH
If you’d like more details about a product or service, explore options suited to your financial needs, or share your experience with us, feel free to reach out, we would love to hear from you.
