Unum Credit Home Loan is a debt consolidation product that uses the equity in your property to settle multiple high-interest debts (like credit cards, personal loans, store accounts, etc.). In simpler terms, it’s a specialized home-equity loan designed to pay off all your other debts. You end up with one secured loan (against your home) in place of all those unsecured debts. This typically lowers your overall interest rate and monthly payments, because secured home loans carry lower rates than unsecured credit. It’s different from a normal personal loan in that it’s backed by your home and comes with that initial 12-month interest-only feature, which normal loans don’t have. Think of it as a way to restructure your debt into your bond at a lower rate, with guidance from us throughout the process.

Great question. By consolidating, you are moving high-interest debt into a lower-interest framework. For example, your credit cards and personal loans might charge anywhere from 25%-30% interest. That’s very expensive and means a lot of your monthly payments go just to interest. A home loan, on the other hand, might charge around, say, 12%. By using a home-equity loan to pay off those expensive debts, you now only have to pay ~12% on that balance, instead of 20%+. Over time this dramatically reduces the interest you pay. Plus, having a single loan often lets you extend the repayment term, which can further reduce monthly cost (though you shouldn’t extend it longer than necessary – we’ll help find the right balance). Bottom line: lower interest rate + one payment = more of your money goes toward actually reducing debt principal, not just servicing interest. And with our 12-month interest-only period, you get an immediate breather on cash flow, which can help you avoid missing payments and incurring penalties. It improves your financial stability so you can focus on knocking out the debt for good.

Unum Credit Home Loan is meant to tackle unsecured debts – the kinds that typically have high rates and no collateral. You can consolidate credit card balances, personal loans, payday loans, store accounts, lines of credit, medical bills, and the like. Essentially, if it’s money you owe that’s not tied to an asset, we aim to roll it in

Our focus is on clearing your high-interest, unsecured debts: credit cards, personal loans, overdrafts, etc. If you’re unsure whether a specific debt can be included, just ask. In many cases, if it shows up on your credit report as an account in your name, and it’s not secured by an asset, we can wipe it out with this program.

Yes. In fact, Unum Credit Home Loan is specifically designed to help people with less-than-ideal credit situations. We don’t require a perfect credit score. Our approval is more based on your property’s equity and your overall financial picture. If you’re under an official debt review, it’s not an automatic “no” – but we will likely need to coordinate with your debt counsellor and follow certain steps. Some clients use our program as a way to exit debt review, since by consolidating and settling those debts, you can potentially get a clearance certificate down the line. Every case is unique, but don’t let a poor credit history stop you from reaching out. We pride ourselves on finding solutions for people that banks and traditional lenders often turn away. As long as you have a qualifying home and some income, we have a very high success rate in getting approval, even for folks who thought they had no options left

Your home is not at risk of being taken away as long as you make the agreed payments – this is the same promise (and responsibility) as any mortgage or bond. We never take ownership of your home; it remains in your name for the duration of the program and beyond. What we do is put a legal charge (lien) on the property as security – very similar to how a normal bond works – but you retain full ownership. Now, it’s important to understand: because your home is collateral, if you completely fail to pay your loan, then as a last resort the lender (us or any subsequent bank) could foreclose – meaning force the sale of the house to recover the debt. This is no different from any home loan – and we consider it a worst-case scenario which we work hard with you to avoid at all costs. Our vetting process ensures the monthly payment is affordable for you, and if troubles arise, we encourage open communication to find solutions (like maybe temporarily paying interest-only a bit longer, etc.). We want you to keep your home and get debt-free, not take your home. So yes, your house is safe with Unum Credit Home Loan as long as you uphold your side of the bargain by making the reduced payments, which we structure to be as manageable as possible.

Transparency is key. There are no hidden costs. That said, like any home loan or consolidation, there are a few standard fees involved, which we will always outline clearly in your contract. These can include: – A once-off initiation or setup fee for the consolidation service (this helps cover the work of negotiating with your creditors, legal paperwork, etc.). – A valuation fee to assess your property’s current value (since the loan is based on your equity, we usually need a professional appraisal). – Legal/registration fees if a new bond or second bond is registered in the Deeds Office (this is a government requirement for any property-backed loan). – Ongoing, your interest is the main “cost” you pay, and we’ll detail the interest rate to you before you sign up. There is no monthly service fee beyond the interest and standard home-loan admin fee that may apply.

We know nobody likes surprises, so we make sure everything is disclosed upfront in plain language. During your application approval, we’ll provide a breakdown of any fees and either include them in the loan amount or discuss how to pay them (many clients choose to capitalize the initiation and legal fees into the loan so there’s no out-of-pocket expense). The goal is that you walk away with no nasty surprises – just a clear, beneficial consolidation loan. If you have any questions about fees or want clarification, just ask. We’re here to be transparent and helpful.

The initial Unum Credit Home Loan program (with the interest-only feature) lasts 12 months. During this time, you’re making interest-only payments which keep things affordable. After 12 months, as described earlier, the idea is that you will transition to a more traditional home loan setup. At that point, you’ll start repaying principal as well, via a refinance with another lender

: The application process is straightforward. To formally apply for Unum Credit Home Loan, you’ll typically need to provide: – Proof of ID: A copy of your South African ID or passport (and your spouse’s, if applicable). – Proof of income: Recent payslips or bank statements showing income deposits (to verify you can afford the payments). – Home ownership documents: A recent municipal valuation or an estimate of your property value, and details of any existing bond on the property. We may do a formal valuation later via an assessor. – Details of your debts: A list of the accounts you want to consolidate – e.g., your credit card statements, personal loan balances, store account balances, etc., with approximate settlement values for each. Don’t worry, if you don’t have exact figures, we can pull a credit report (with your permission) or get settlement quotes during the process. But it helps to have a ballpark idea. – Consent and application forms: We will have a standard application form and some disclosures for you to sign (like allowing us to check your credit record and do the property valuation, etc.). If you’re married in community of property, your spouse will need to sign too.

That’s mostly it. No mountains of paperwork – just the essentials to evaluate and process the consolidation. Our application can be done online or via email, and our team is happy to assist you in collecting these documents. We strive to make it as easy as possible, because we know you’ve got enough on your plate. Once we have these items, we can typically give a final approval and offer within days.