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ATTORNEY CIRCULAR NO. 59/2005 - BOND PLUS PAYMENT OF TRANSFER DUTY PRIOR TO REGISTRATION EFFECTIVE 13 DECEMBER 2005

Effective 13 December 2005, FNB Homeloans requires the following information in order to effect Bond Plus payments for transfer duties prior to lodgement of bonds.
 

1.	Authority for Payment must stipulate the amount in respect of Transfer Duty (which is only payable prior to registration for lodgement) to the FNB HomeLoans BondPlus Costs Suspense account 92001351125, branch number 258805. The remaining costs are to be listed separately, which will be payable on registration of the bond
2.	Your proforma statement must contain the following information, which is to be sent to FNB HomeLoans on request for the Transfer Duty costs.
	*	Client’s name..
	*	Home loan account number.
	*	Property details.
	*	Detailed breakdown of attorney’s invoice.
	*	The total bond amount to be lodged/registered.
	*	Amount to be paid to the attorney for lodgement.
	*	Attorney’s banking details.

3.	All documents are to be signed by purchaser and are
	*	to be forwarded to Document Management Department, 8th Floor,
	*	to be scanned and checked, and
	*	FICA requirements to be in place.
4.	Authority by Document Management to proceed with registration is required.
All the above must be adhered to prior to the payment being effected.
5	All requests for payment of BondPlus costs and queries are to be done via the following e-mail address  bondplus@fnb.co.za.

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SA Deeds offices going digital - 2005/12/28

Deeds registries at six centres in South Africa have begun converting from dual-head microfilm cameras to digital scanners for use in archiving by microfilm, according to the Department of Land Affairs' annual report for 2005.

To read the complete article on Property 24, click here.


Nedbank - AlphaBond for first-time homebuyers
 

If you are new to the property market, AlphaBond can make owning your first home as simple as it should be. AlphaBond allows you to structure your finances more effectively by assisting you with those costly start-up costs or helping you to improve your cash flow:

Option 1. All start-up costs are included in your homeloan. Option 2. Take an initial three months payment holiday.

For more information, click here.

FNB - SA housing prices to see 12-15% growth 2006

South Africa's residential house prices should see a deceleration in growth to between 12% and 15% in 2006, from an estimated 20% in 2005, according to new FNB property economist John Loos.

To read the complete article on Property 24, click here.

House Price Growth In December Down By 1% - 2006/01/11

According to the December Absa House Price Index released on Wednesday, nominal house price growth declined to 14.7% y/y in December from 15.7% y/y in November and down sharply from 30.8% y/y in January.

To read the complete article on Property 24, click here.

Body corporates face clampdown

A new protection mechanism has recently come into effect that has far-reaching consequences for sectional title owners. The Act offers protection with regard to poor debt management by the body corporate to sectional title owners who are members of the unit's body corporate.

To read the complete article on Property 24, click here.

Appeal court rules that banks may attach and sell homes to recover debts

Commercial banks achieved a victory in their continued struggle against bond payment defaulters. In a unanimous ruling by the five appeal court judges, who pronounced this to be a test case, the banks were given the green light for sales in execution of defaulted payers' homes.

To read the complete article on Property 24, click here.


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