NCEPTION:
Bondpro was certified to commence business on 31 October 2002, registration number 2002/027232/07.
LEGAL STRUCTURE:
Bondpro Finance (Pty) Ltd., registration number, 2002/027232/07, is a proprietary limited company registered under the Companies Act of 1973. Its shares are held by Bondpro Investment Holdings (Pty) Ltd who in turn is owned by Kennersley Castle Investments (Pty) Ltd. Deliberations are currently in a well advanced stage to include a well known recognised Black Economic Empowerment group as a shareholder. The details will be released in due course.
MAIN BUSINESS:
The main business focus of Bondpro Finance is to facilitate debt consolidation needs, extend residential mortgage finance in South Africa and to conduct the administration that is related thereto. This entails the marketing, credit assessing, financing, and administration (including payment of customers’ creditors) and payment collections of residential mortgage loans.
REGISTERED CREDIT PROVIDER:
Bondpro Finance was awarded permission (NCRCP 1228) by the National Credit Regulator to extend loans from the beginning of 2007. Currently, more than 50% of the current client base is represented from the previously disadvantaged groups.
MANAGEMENT OF PORTFOLIO’S:
Bondpro Finance also manages mortgages of at least four other mortgage lenders.