CLARITY ON BOND SETTLEMENT AND BOND CANCELLATION

𝐒𝐞𝐭𝐭𝐥𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐇𝐎𝐌𝐄 𝐋𝐎𝐀𝐍 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐦𝐞𝐚𝐧 𝐭𝐡𝐚𝐭 𝐲𝐨𝐮𝐫 𝐛𝐨𝐧𝐝 𝐠𝐞𝐭𝐬 𝐜𝐚𝐧𝐜𝐞𝐥𝐥𝐞𝐝 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐜𝐚𝐥𝐥𝐲.

From the moment you get approval for your home loan, you’ll be counting down the days until you can make that final payment. However, cancelling a bond on a property is not as easy as ending a streaming subscription – simply paying your final home loan instalment doesn’t automatically cancel your bond. There is still a cancellation process that you must follow.

Read about difference between settling your account and bond cancellation on our Facebook page including steps to be followed when cancelling the bond.

Morris Msomi - Financial Coach