Should I buy in the name of a trust or in my personal name?

Getting finance in the name of a trust, is almost impossible with FNB, and here we steer clear. 

Nedbank asks a lot of questions about the independent trustee, but they will still consider the application and will consider based on the client’s risk profile.

Absa will ask for a lot of additional information when applying in the name of a trust but will consider 70% bonds for non-Absa clients and 85% bonds for Absa clients.

Standard Bank will consider an application as if it’s a private individual that’s applying.
Although getting a bond in the name of a trust has become more difficult, it is still worth analysing your portfolio and then putting a strategy in place in terms of the bank that will be approached.

The benefits of buying in the name of a trust far outweighs the problems of getting the bond approved in the name of a trust.

Louis Koen, Bond Originator, louis@igrow.co.za