100% No Deposit Home Loans
South African Banks are constantly changing their lending policies.
100% Home Loans have returned & are available, but the banks are understandably more cautious when approving these bonds.
Read: How to secure a 100% Bond
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Following closely after Standard Banks’ announcement to relax its lending criteria and offer bigger mortgages, ABSA bank released a statement saying that the country’s largest home loan provider is now offering 110% Bonds.
These 110% ABSA home loans are only available to lower income earners with a monthly income of less than R11k. Alternatively 100% bond available to anyone looking to purchase an ABSA Repossessed Property.
According to the bank, the motivation behind this decision has been the 5% drop in interest rates experienced since December 08, as well as the recent improvement in the property market.
ABSA Home Loans are currently offering mortgages on a tiered basis.
To find out how size bond you’ll qualify for, speak to our consultants.
Complete the online form or call us directly on 087 625 0590