BONDS SOUTH AFRICA Home and building Finance

HOMEOWNERS !!

How to take charge of your finances – now and forever !

Scenario 1
How to:
Save thousands on better rates.
IF YOUR INTEREST RATE IS NOT PRIME LESS 2%
8.5%
THEN YOU’RE PROBABLY PAYING TOO MUCH!!
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LET YOUR DEBT PAY OFF YOUR BOND

Scenario 2

How to:

LET YOUR DEBT PAY OFF YOUR BOND!!

BEFORE DEBT CONSOLIDATION

Loan Amount Interest Rate Loan Term Monthly Payment
Home Loan R 400 000 10% 240 Months R 3860
Furniture HP R 10 000 17% 24 Months R 494
Credit Card R 20 000 18% Indefinite R 300
Vehicle Finance R 100 000 10.5% 60 Months R 2150
Overdraft R 20 000 13.5% 60 Months R 460
Total Loan Amount = R 550 000

Total Monthly Repayments = R7 264

AFTER DEBT CONSOLIDATION

Loan Amount Interest Rate Loan Term Monthly Payment
Home loan R 550 000 10% 240 Months R 5 307
Furniture Hp 0 0 0 0
Credit Card 0 0 0 0
Vehicle Finance 0 0 0 0
Overdraft 0 0 0 0

The total loan amount is R550 000 with one monthly payment of R5 307.
Total monthly savings = R1 957

FACTS
 SAVE R 400 716 INTEREST
 PAYING OF YOUR HOME LOAN IN 10 YEARS

CONTACT US OR DOWNLOAD THE QUESTIONAIRE AND SEND BACK TO US FOR A FREE ANALASIS

Scenario 3

How to:

Live on a cash basis and save on interest and discounts @!!

Our services:

NO FEES………………….FREE ANALYSES

WE DO:

 Help you to consolidate your debt
 Advise you on the best way to stay as debt free as possible
 We shop for the BEST home loan to suit your NEEDS
 Securing the BEST INTEREST rates available on your loan
 Provide service at NO COST
 We take the hassle and stress of bond hunting between banks away

TAKE THE TIME TO ASK YOURSELF THESE FEW QUESTIONS

 ARE YOU SERIOUS ABOUT YOUR FINANCIAL STATUS?
 WOULDN’T IT BE NICE IF YOUR DEBT CAN PAY OFF YOUR BOND?
 WOULD YOU LIKE TO BE DEBT FREE?
 DO YOU WANT MORE CASH IN YOUR POCKET?

YOU CAN MAKE THIS HAPPEN!!

Save vast amounts of money!!

Your FINANCIAL FREEDOM is our business!!

CONTACT US OR DOWNLOAD THE QUESTIONAIRE AND SEND BACK TO US FOR A F
Mortgage Industry Overview

Value Adding by the Role Players in the Industry

The Role of NAMO

Code of Conduct of NAMO

The Ordinary Home Loan
THE MORTGAGE ORIGINATOR

The mortgage originator represents the home buyer in obtaining the best and most suited mortgage loan for the buyer from any one of the participating banks.

The mortgage originator should have a working knowledge regarding the banks’ products, procedures, credit assessment criteria and pricing models to be able to deliver quality service to the consumer.

The mortgage originator secures leads for applications from estate agents, developers, directly from clients and other lead providers.

The mortgage originator or its consultant should always strive to add value to all the role players in the mortgage origination value chain. This could be done in the following ways:

a. To the Home Buyer

The originator should add value as follows:

Never make promises in terms of expected time frames or interest rates pertaining to the loan;

Be prompt in replying to the applicant(s);

Fully brief the applicant upfront on the process regarding the application;

Notify the applicant as soon as possible whether he/she would be able to afford the home loan or not;

Always be absolutely transparent in dealing with the client;

Handle all the affairs of the applicant confidential at all times;

Always act within the guidelines of the Code of Conduct of NAMO.
b. To the Source (Estate Agent etc)

The first requirement of the Source would be prompt service. The Source would expect to work with an able and competent consultant who really focuses on closing the deal regarding the financing of the mortgage loan as quickly and efficiently as possible. Regular updating of the Source regarding the progress of the loan application would be a prerequisite to a successful working relationship with the Source.

c. To the Bank

The Banks would expect the following:

A fully completed application with all the prescribed supporting documentation to enable the bank to make a decision on the application;

Undoubted integrity in your application and communication between the bank, the Source and the client (applicant);

A good working knowledge of the banks’ products, basic credit policies and process within the sphere of mortgage loans.

THE ROLE OF NAMO

1. The Role of NAMO is to regulate the mortgage origination industry in terms of the quality of origination produced to the consumer and other role players in the industry and to address any transgressions in this regard.

2. The Constitution of the Association, supported by the Code of Conduct serve as guidelines for the National Executive Committee to regulate the industry in such a way that the interest of the consumer is protected at all times and value added within the mortgage industry.

THE ORDINARY HOME LOAN

APPLICATION FORM

Each bank has its application form for a home loan. Certain originators have introduced their own generic form or the application may be submitted electronically. In all cases the purposes of the application is to record and provide the bank with all the details they require to consider the advance. Additional supporting documentation as detailed below will also be required but the accurate and comprehensive completion of the application will be essential for the speedy consideration of the loan.

A completed application would be required for each loan application.

THE DEED OF SALE

While the general law of contracts allows for a verbal offer and acceptance to be binding, South African law specifically requires that any contract that involves the sale of fixed property must be in writing. The consequence is that in all property transactions there would need to be a written contract. This is generally referred to as “The Deed of Sale”.

Generally the estate agent selling the property would complete the document for signature by the buyer. In that form it would represent an offer that would be presented to the seller. If the seller finds the offer acceptable, they would then countersign the document to indicate their acceptance of the offer. It would now be considered a binding deed of sale (subject to any cooling off period or suspensive conditions).

The Deed of Sale would include all pertinent details. These should include:

Full details of the buyer and seller
The sale price
Description of the property
Details on how the purchase price will be paid
As most offers are subject to the approval of a bond, the deed would indicate the value of the bond required and a date by which evidence of its approval is required.
Any other suspensive conditions or material aspects

Unless the bond application is in respect of a further advance, the bank will require to be provided with a copy of The Deed of Sale. This can be obtained from any source, i.e. estate agent; broker; attorney; directly from buyer/seller; etc.

Confirm
All pages are included
All parties have signed
Deed of Sale is dated
All fields are completed
All changes are signed by all parties

PROOF OF IDENTITY AND CONTRACTUAL CAPACITY

When considering any application, the bank will need to know who they are dealing with and whether they would contractually be permitted to enter into the loan. This potential contractual restriction would generally be a consequence of their marital status. In the case of a company or C.C., the full details of the company registration, directors etc. would be required. Caution is required for people married outside of South Africa as the basic marriage contract could differ depending on the country in which the marriage was solemnized. Details of the proof of identity and other documents required to accompany an application are as follows:

1. DOCUMENTS REQUIRED (MARRIED COP)

As each party has full contractual capacity, no joint estate exists.

Where a buyer is married COP, the estate of the husband and wife is a joint estate and therefore the bond will be granted in both names.

The following documentation would be required and should accompany the application to the bank:

Copy of husband’s ID document or passport♣
Copy of wife’s ID document or passport♣
Copy of marriage certificate
♣ If not South African Citizen a certificate of permanent residence or work permit would be required.
♣ Traditionally married is viewed the same as COP

2. DOCUMENTS REQUIRED (MARRIED ANC)

Based on a buyer’s marital status, specific documentation is required by the banks.

Should he/she qualify for the loan on his/her income only, the bank would only request documentation regarding himself/herself. If not, documentation of both husband and wife would be required.

Based on the above, the following documentation should accompany the application:

Copy of husband’s ID document or passport♣
Copy of wife’s ID document or passport♣
Copy of marriage contract
♣ If not South African Citizens a certificate of permanent residence or work permit would be required.

3. DOCUMENTS REQUIRED (DIVORCED)

Based on a buyer’s status as a divorcee, specific documentation is required by the banks. A divorcee has full contractual capacity, irrespective of age.

The following documentation should accompany the application:

Copy of his/her ID document or passport♣
Copy of divorce order♣♣
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.
♣♣ The copy of the divorce order is required by the bank to determine whether the applicant has to pay or receive maintenance.

4. DOCUMENTS REQUIRED (SINGLE, BUT BUYING HOME WITH SOME ELSE)

Buying with another person, even when you are living with that person, does not constitute a joint estate. The property will then have to be registered in both names or in one name with the other party having signing a surety. In either case the documents are the same.

Copy of his/her ID document or passport♣
Copy of partner’s ID or passport♣
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.

5. DOCUMENTS REQUIRED (SINGLE)

A copy of his/her ID document should be attached to the application.
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.

6. DOCUMENTATION REQUIRED (COMPANY BUYING PROPERTY)

The following documentation should accompany the application:

Copies of ID document or passport of all shareholders.
Copy of CM1: Certificate of Incorporation
Copy of CM2: Memorandum and Articles of Association
Copy of CM29: Contents of Register of Directors, Auditors and Officers.
Copy of CM46: Certificate to commence a business.
Copy of CM9: Certificate of change of name of company (if applicable).
Extract of minutes of board meeting at which the decision was made to enter into the loan and to whom power of attorney was granted to sign documentation on behalf of the company.
Memorandum and articles of the company.

7. DOCUMENTATION REQUIRED (CC BUYING PROPERTY)

The following documentation would be required:

Copies of ID documents of all members.
CK 1: Founding statement
CK 1: Certificate of Incorporation
CK 2: Amended Founding Statement (if necessary)
Resolution determining who is authorized to sign documents on behalf of the CC.
8. DOCUMENTATION REQUIRED (INDIVIDUAL BUYING IN NAME OF CC)

The following documentation would be required:

Copies of ID documents of all members.
CK 1: Founding statement
CK 1: Certificate of Incorporation
CK 2: Amended Founding Statement (if necessary)

PERSONAL STATEMENT OF ASSETS & LIABILITIES / INCOME & EXPENDITURE

Many banks require the completion of these documents. It is difficult to imagine how advice regarding affordability can be given without having completed an Income & Expenditure statement. As different banks have different requirements regarding this aspect, it is vital that consultants keep themselves fully apprised of each bank’s individual expectations. As a general rule, consultants should have these documents completed.

THE PURPOSE OF A SURETY

A Surety is a person who, by signing a formal document, makes him or her self-responsible for the potential repayment of another person’s debt. It is an instrument that is widely used by banks within the mortgage lending arena.

At the outset it is important to remember that a creditor cannot look for repayment of a debt unless there is a valid, legally binding claim that can be persued. A suretyship is used to create such a claim against a person who is not a party to the principle transaction. This is perhaps best demonstrated by way of an example. A parent wishes to have their child get into the property market and own a property in their own name. The child however is just starting out and simply does not have the income or perhaps the credit history to justify the loan required. The parent on the other hand could qualify but wants the property and loan to be in the name of the child. It is clear that without recourse to the parent, the bank would not be in a position to justify the loan. By signing a suretyship, the parent link themselves as co-principal debtor to the loan and allows the bank to justify the loan on the basis of both the parent and the child’s positions, despite the property and loan being in only one of the names.

This principle is applied in a number of different cases. A property being registered in the name of a wife but where the husband primarily earns the income would require a surety. (This would only apply to couples married by ANC as if they were married ICOP, the property would need to be registered in joint names anyway) Buyers wishing to register the property in the name of say a CC would need to link themselves to the loan by way of a suretyship.

In all cases where a surety is being proposed, full details will need to be supplied as if the person was one of the applicants. This would include the provision of identification and all the normal requirements to prove income.

PROOF OF INCOME

In deciding whether an application is to be approved, banks need to be satisfied that the income disclosed in the application form is accurate and consistent. Applications will accordingly need to be supported by suitable proof. The following guidelines are a generic description of the normal requirements. Each bank may have its own requirements that are potentially less onerous. It is the responsibility of the consultant to ensure that they are fully aware of each banks individual requirement. Its is also important to remember that different types of income need different proof. Any application which details multiple different income types would need to have each type proved in the appropriate manner.

a. Salary earner
Latest salary slip
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.

b. Commission / Overtime
Three consecutive months salary slips and latest salary slip
3 months bank statements evidencing deposit of overtime/ commission.

c. Contractor
Copy of employment contract.
3 months bank statements evidencing deposit of income.

d. Maintenance
Copy of divorce decree
3 months bank statements evidencing deposit of maintenance

e. Rental Income
Copy of lease agreements
3 months bank statements evidencing deposit of rentals.

f. Self employed individual
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

g. Partner in a partnership
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

h. Self employed (own company or CC)
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

i. Property being bought by a trading company / CC
Audited Financial statements no older than 12 months
Management Accounts if older than 6 months

THE BUILDING LOAN

OFFER TO PURCHASE (FOR STAND)

Could be obtained from any source, i.e. estate agent; broker; attorney; directly from buyer/seller; etc.

Confirm

1. All pages are included

2. All parties have signed

3. Deed of Sale is dated

4. All fields are completed

5. All changes are signed by all parties

DEFINITION AND PURPOSE OF DOCUMENTS REQUIRED

Building Loans can be complicated. Plot and Plan developments with a recognized developer may make the process simpler. Building loans will generally require the additional documents listed below. Consultants must also ensure that applicants are aware of the cash flow implication of this type of loan. Banks will only allow draws if they are satisfied that sufficient funds are left undrawn to complete the building. In need, it is advisable to discuss the application with the bank involved.

• Provisional or Approved Plans. Architect or drawer’s plans of home to be built. The banks’ assessor uses the plans for determining the value of the home to be build and also have to check the plans before any payment is made.

• Detailed Tenders or Quotation This is a specification (in detail) regarding the technical specifications of materials to be used to build the home, the bill of materials to be sued, and specification of the quality of finishes to be used. The bank’s assessor uses these documents to assess the value of the home to be built.

• Minimum Specifications and Schedule of Finishes/Variations An undertaking by the building contractor to adhere to the minimum technical specifications (regarding and masonry, drainage disposal and control etc.) as laid down by National Building Regulations, local Authority By-laws and the bank. Although this document is not required for granting purposes, it is needed for valuation and before any payments will be made.

• Waiver of Builder’s Lieu The building contractors has the right to retain the keys of a building until he has been paid the full contract price. This right is called the right of Builder’s Lieu. Due to this right, the builder’s claim will take priority over the bank’s claim in a case where the homebuyer does not meet his/her financial responsibilities and/or withdraws from the transaction. Banks therefore require the builder’s right of retention to be waived in favour of the bank (in writing); thereby making the bank the preferred creditor before any payment will be made.

• Copy of Contractor’s NHBRC. NHBRC stands for National Home Builder’s Registration Council. The NHBRC ensures that builders adhere to its quality standards, and that buildings erected are free from major defects, thereby minimizing the risk of the homebuyer and the banks. The cost for NHBRC enrolment is 1,3 % of the contract price and is to be shown on the tender separately. The banks insist that all building contractors should be enrolled with the NHBRC before a building loan will be granted.

NOTE:

1. NHBRC enrollment is not required where:
- Any residential structure (home) is to be constructed with less than 75 % of the floor area designed for residential purposes.
- Homes are built by bona fida owner builders

2. Bona Fide owner builder Is defined in terms of the Housing Consumers Protection Measures Act as:
- Not in the business of home building; and
- Building a home for his/her own use; and
- Not using NHBRC registered home builder to assist him/her in the building process.

A bona fide owner builder does not need to enroll with the NHBRC and does/need not pay the enrollment fee of 1,3 %, but, if a person is building one or more new homes a year (or every few years) on a part-time basis and then selling them he/she is in the business of home building and therefore need to enroll with the NHBRC.

N.B. Not all banks are prepared to do “Owner Builder” bonds. It is suggested that consultants check regarding the attitude of a particular bank.

THE ORDINARY HOME LOAN

APPLICATION FORM

Each bank has its application form for a home loan. Certain originators have introduced their own generic form or the application may be submitted electronically. In all cases the purposes of the application is to record and provide the bank with all the details they require to consider the advance. Additional supporting documentation as detailed below will also be required but the accurate and comprehensive completion of the application will be essential for the speedy consideration of the loan.

A completed application would be required for each loan application.

THE DEED OF SALE

While the general law of contracts allows for a verbal offer and acceptance to be binding, South African law specifically requires that any contract that involves the sale of fixed property must be in writing. The consequence is that in all property transactions there would need to be a written contract. This is generally referred to as “The Deed of Sale”.

Generally the estate agent selling the property would complete the document for signature by the buyer. In that form it would represent an offer that would be presented to the seller. If the seller finds the offer acceptable, they would then countersign the document to indicate their acceptance of the offer. It would now be considered a binding deed of sale (subject to any cooling off period or suspensive conditions).

The Deed of Sale would include all pertinent details. These should include:

Full details of the buyer and seller
The sale price
Description of the property
Details on how the purchase price will be paid
As most offers are subject to the approval of a bond, the deed would indicate the value of the bond required and a date by which evidence of its approval is required.
Any other suspensive conditions or material aspects

Unless the bond application is in respect of a further advance, the bank will require to be provided with a copy of The Deed of Sale. This can be obtained from any source, i.e. estate agent; broker; attorney; directly from buyer/seller; etc.

Confirm
All pages are included
All parties have signed
Deed of Sale is dated
All fields are completed
All changes are signed by all parties

PROOF OF IDENTITY AND CONTRACTUAL CAPACITY

When considering any application, the bank will need to know who they are dealing with and whether they would contractually be permitted to enter into the loan. This potential contractual restriction would generally be a consequence of their marital status. In the case of a company or C.C., the full details of the company registration, directors etc. would be required. Caution is required for people married outside of South Africa as the basic marriage contract could differ depending on the country in which the marriage was solemnized. Details of the proof of identity and other documents required to accompany an application are as follows:

1. DOCUMENTS REQUIRED (MARRIED COP)

As each party has full contractual capacity, no joint estate exists.

Where a buyer is married COP, the estate of the husband and wife is a joint estate and therefore the bond will be granted in both names.

The following documentation would be required and should accompany the application to the bank:

Copy of husband’s ID document or passport♣
Copy of wife’s ID document or passport♣
Copy of marriage certificate
♣ If not South African Citizen a certificate of permanent residence or work permit would be required.
♣ Traditionally married is viewed the same as COP

2. DOCUMENTS REQUIRED (MARRIED ANC)

Based on a buyer’s marital status, specific documentation is required by the banks.

Should he/she qualify for the loan on his/her income only, the bank would only request documentation regarding himself/herself. If not, documentation of both husband and wife would be required.

Based on the above, the following documentation should accompany the application:

Copy of husband’s ID document or passport♣
Copy of wife’s ID document or passport♣
Copy of marriage contract
♣ If not South African Citizens a certificate of permanent residence or work permit would be required.

3. DOCUMENTS REQUIRED (DIVORCED)

Based on a buyer’s status as a divorcee, specific documentation is required by the banks. A divorcee has full contractual capacity, irrespective of age.

The following documentation should accompany the application:

Copy of his/her ID document or passport♣
Copy of divorce order♣♣
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.
♣♣ The copy of the divorce order is required by the bank to determine whether the applicant has to pay or receive maintenance.

4. DOCUMENTS REQUIRED (SINGLE, BUT BUYING HOME WITH SOME ELSE)

Buying with another person, even when you are living with that person, does not constitute a joint estate. The property will then have to be registered in both names or in one name with the other party having signing a surety. In either case the documents are the same.

Copy of his/her ID document or passport♣
Copy of partner’s ID or passport♣
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.

5. DOCUMENTS REQUIRED (SINGLE)

A copy of his/her ID document should be attached to the application.
♣ If not a South African Citizen a certificate of permanent residence or work permit would be required.

6. DOCUMENTATION REQUIRED (COMPANY BUYING PROPERTY)

The following documentation should accompany the application:

Copies of ID document or passport of all shareholders.
Copy of CM1: Certificate of Incorporation
Copy of CM2: Memorandum and Articles of Association
Copy of CM29: Contents of Register of Directors, Auditors and Officers.
Copy of CM46: Certificate to commence a business.
Copy of CM9: Certificate of change of name of company (if applicable).
Extract of minutes of board meeting at which the decision was made to enter into the loan and to whom power of attorney was granted to sign documentation on behalf of the company.
Memorandum and articles of the company.

7. DOCUMENTATION REQUIRED (CC BUYING PROPERTY)

The following documentation would be required:

Copies of ID documents of all members.
CK 1: Founding statement
CK 1: Certificate of Incorporation
CK 2: Amended Founding Statement (if necessary)
Resolution determining who is authorized to sign documents on behalf of the CC.
8. DOCUMENTATION REQUIRED (INDIVIDUAL BUYING IN NAME OF CC)

The following documentation would be required:

Copies of ID documents of all members.
CK 1: Founding statement
CK 1: Certificate of Incorporation
CK 2: Amended Founding Statement (if necessary)

PERSONAL STATEMENT OF ASSETS & LIABILITIES / INCOME & EXPENDITURE

Many banks require the completion of these documents. It is difficult to imagine how advice regarding affordability can be given without having completed an Income & Expenditure statement. As different banks have different requirements regarding this aspect, it is vital that consultants keep themselves fully apprised of each bank’s individual expectations. As a general rule, consultants should have these documents completed.
THE PURPOSE OF A SURETY

A Surety is a person who, by signing a formal document, makes him or her self-responsible for the potential repayment of another person’s debt. It is an instrument that is widely used by banks within the mortgage lending arena.

At the outset it is important to remember that a creditor cannot look for repayment of a debt unless there is a valid, legally binding claim that can be persued. A suretyship is used to create such a claim against a person who is not a party to the principle transaction. This is perhaps best demonstrated by way of an example. A parent wishes to have their child get into the property market and own a property in their own name. The child however is just starting out and simply does not have the income or perhaps the credit history to justify the loan required. The parent on the other hand could qualify but wants the property and loan to be in the name of the child. It is clear that without recourse to the parent, the bank would not be in a position to justify the loan. By signing a suretyship, the parent link themselves as co-principal debtor to the loan and allows the bank to justify the loan on the basis of both the parent and the child’s positions, despite the property and loan being in only one of the names.

This principle is applied in a number of different cases. A property being registered in the name of a wife but where the husband primarily earns the income would require a surety. (This would only apply to couples married by ANC as if they were married ICOP, the property would need to be registered in joint names anyway) Buyers wishing to register the property in the name of say a CC would need to link themselves to the loan by way of a suretyship.

In all cases where a surety is being proposed, full details will need to be supplied as if the person was one of the applicants. This would include the provision of identification and all the normal requirements to prove income.

PROOF OF INCOME

In deciding whether an application is to be approved, banks need to be satisfied that the income disclosed in the application form is accurate and consistent. Applications will accordingly need to be supported by suitable proof. The following guidelines are a generic description of the normal requirements. Each bank may have its own requirements that are potentially less onerous. It is the responsibility of the consultant to ensure that they are fully aware of each banks individual requirement. Its is also important to remember that different types of income need different proof. Any application which details multiple different income types would need to have each type proved in the appropriate manner.

a. Salary earner
Latest salary slip
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.

b. Commission / Overtime
Three consecutive months salary slips and latest salary slip
3 months bank statements evidencing deposit of overtime/ commission.

c. Contractor
Copy of employment contract.
3 months bank statements evidencing deposit of income.

d. Maintenance
Copy of divorce decree
3 months bank statements evidencing deposit of maintenance

e. Rental Income
Copy of lease agreements
3 months bank statements evidencing deposit of rentals.

f. Self employed individual
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

g. Partner in a partnership
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

h. Self employed (own company or CC)
3 months bank statements evidencing deposit of income/ commission/ maintenance etc.
Financial statements of business, CC or company
Letter from auditor / accounting firm confirming income

i. Property being bought by a trading company / CC
Audited Financial statements no older than 12 months
Management Accounts if older than 6 months