1. Submit the correct information

   To assist the bank in determining its risk, you will be required to provide personal information such as bank statements, salary slips, a statement of assets and liabilities, a statement of your monthly expenses and information on your credit history, including whether you have ever been insolvent.

   If you go through an originator, they will ensure you have all the correct paper work to avoid unnecessary delays.

2. Get the best interest rate

   The lower the bank?s risk in lending funds to a particular borrower, the better the rate it will offer that individual. In calculating its risk, it will consider factors such as the amount of equity you are willing to invest into the property (i.e. your deposit, the size of the loan and the repayment-to-income ratio (the ratio between the bond payment and the buyer?s income).

   The type of bond you apply for, your credit history and the investment value of the property you intend buying also affect the rate you will be offered.

   Shop around and negotiate with various banks to ensure you get the best package. A convenient way to do this is through the services of a mortgage originator who facilitate it all on your behalf as a free service.

   "While a deposit is not always required, try to put down 20 percent or more if you can, as the bank is more likely to offer you a better rate as the risk of the loan is reduced," suggests Geldenhuys.

3. Use a mortgage originator

   Finally, Geldenhuys suggests that consumers looking for the best deal on home loans should make use of a mortgage originator.

   Mortgage originators specialise in shopping around between banks and negotiating the best deal for the customer for free.

   "Obtaining a preferential rate of just 0.1 percent below the prime rate can make a big difference to your monthly repayments. However, in negotiating the best package the mortgage originator needs to take more than just the rate into account and will structure a package that best suits the individual?s needs overall.

With the property market beginning to perk up and banks loosening lending criteria as well as granting 100 percent loans, now is the best time in the last two years to apply for a bond," concludes Geldenhuys.