While the banks have done very little to relax their overall lending criteria, there has actual been an increase in the number of 100% bonds being granted by the banks.
For More Information: Read this Guide to 100% Home Loans
The good news is that the banks are granting an increasing number of full 100% bonds, although the majority of applicants are still required to have at least a 10% deposit.
Below are some instances where banks will consider offering your a 100% bond:
Buyers who earn less then R15 000 per month, full into the affordable housing segment and are often able to secure a 104% bond. These bonds include the full purchase price of the property, as well as attorney costs.
Bond Originators are finding that about 20% of all home loan applicants are qualifying for 100% bonds.
But, while the banks are not reluctant to grant 100 percent bonds, they do have to impose strict conditions and follow stringent guidelines in terms of the National Credit Act.
Speak to a home loan consultants today about getting a 100% home loan on your new home.