Common use of BOND ORIGINATOR Clause in Contracts

BOND ORIGINATOR. In the interest of obtaining bond approval as soon as possible, the Purchaser will, where this agreement is subject to the Purchaser obtaining mortgage finance, use the services of Elect Property Trust No 7 t/a Combined Finance (“Combined Finance”) as a mortgage originator, and will forward all documents required by Combined Finance for the submission of a mortgage bond application with the major banks. This is to the benefit of the Purchaser because the system of mortgage origination used by the Seller avoids delays and therefore reduces the price of the Seller’s products. The Seller will release the Purchaser’s contact details and the signed offer to purchase to Combined Finance as part of the bond approval process. The Purchaser will then be contacted by Combined Finance to obtain further required information.