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MortgageMarket launches instant Home Loan Pre-approval tool for all customers

Getting a home can be an exciting yet stressful journey, when it comes to knowing if the bank will loan you the necessary funds. In a time where interest rates are at a 25-year low, there’s never been a better time to invest in property and it starts with finding out how much you can afford.


MortgageMarket’s new innovation for all customers, the MortgageMarket Pre-approval tool, takes the guess work out of how much money the bank will loan customers for their home. The tool will give customers an accurate indication of the home loan amount they could qualify for in just 2 minutes.

Getting a MortgageMarket Pre-approval is the first step for all potential home buyers, when thinking about buying property. It gives them the ability to shop with confidence, which is vital for clients, when they engage with estate agents and residential developers to start the buying journey. Clients get a real-time credit score and affordability check, which are both key factors that make up the banks’ full credit assessments process. Importantly, this service is offered free of charge and does not affect the client’s credit score rating, in any way.

“MortgageMarket has partnered with Experian, a leading credit bureau, to provide clients with access to their credit record. This is the same credit data all banks use as part of their credit assessment process. Therefore, customers can be confident that our Pre-approval tool we gives them accurate results, that are aligned to the same information the banks will review”, explained Tim Akinnusi, founder and CEO of MortgageMarket.co.za.

The MortgageMarket Pre-approval tool follows the well-received launch of MortgageMarket’s core offering, of giving customers access to five banks with one online application and paying customers up to R25,000 back, upon their home loan approval.

Whether you are browsing through the property pages or driving around looking at show houses, all you need to do is pull out your cellphone and answer a few quick questions. Two minutes later you’ll know if you can afford the house. Once the results of the pre-approval are displayed, customers can then sign up and save their results, on their MortgageMarket online profile, until they are ready to make an offer to purchase.

“We are excited about the enormous value this tool will add to the lives of all consumers, regardless of whether they are ready to buy property or just curious to find out what a bank is likely to provide them”, concluded Akinnusi.

Apply online at www.mortgagemarket.co.za or contact MortgageMarket on 011 593 2282 for more information.