UPDATE: ABSA HOME LOANS have extended their 110% Home Loans offer.
Click Here: What are the Basic Requirements?

ABSA Building
image by warrenski

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

Bond Originator South Africa

Co Founder of Mortgage Innovations

Gino S · March 21, 2010 at 5:19 pm

Hi Linda, it is possible to secure a full 100% bond if you intend to use it for debt consolidation, but this would be subject to a favorable credit rating. To qualify for a 100% home loan you’ll need to have a very good rating score.

Linda · March 20, 2010 at 4:28 pm

If u are overdebted but seek homeloan with an intention of consolidating all your debts to free yourself,can the banks offer you 100% if you indicate you also want to consolidate @the same time

Gino S · March 17, 2010 at 11:40 am

Hi Sharmanie. Based on a net income of R11 000, and without considering your other monthly expenses you will be able to qualify for a bond of about R350 000. Depending on the area you are looking for you can find a number of repo properties in this price range. Click here to view a list of Repossessed Properties.

SHARMANIE · March 17, 2010 at 11:29 am

I would like to know how do i go about applying for a repossessed home, and how much will i qualify for if I apply for a home loan if my monthly income is lesser than R11 000?

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