Comments on: Standard Bank Home Loans Access Bond

By: deon

deon — Mon, 06 Sep 2010 20:27:33 +0000

currently we have normal bond and want to apply for access bond facility.we are considering the atm link option.does it mean that we need to build up funds first or do we have access to the funds available as we have been paying over and above the monthly requirement.

this home loan has been deducted from normal savings account, is this the best account option

By: Rudolph

Rudolph — Wed, 25 Aug 2010 09:17:37 +0000

I applied and was approved a bond from standard bank on the property i own (not registered yet). I intended using the bond to purchase investment (buy-to-let) flats.

The consultant at the bank informed me that i cannot drectly apply for an access bond and can only negotiate after the bond has been registered and that all new bonds are approved at prime plus. This turned out to be the case with me since the interest charged on terms and conditions received were 10,35%.

I have not accepted yet because was not sure if this interest and the fact that i will receive all the money at once would be feasible for my aim.

Please advice.

By: Mark Stevens

Mark Stevens — Mon, 03 Nov 2008 08:56:35 +0000

Allie:
1) Sorry to break this to you but after 5 months you will not be owing the bank R700 000. With the system used it will be closer to R749 000 – seriously.

2)Assuming you are on prime rate of 15.5% your monthly payment should be around R10 000 so you will not be paying in anything extra so you should not be withdrawing funds out of your access bond. You should only take money out of your access bond if you had paid in extra else you’ll go into arrears.Not wise!
My humble advice: close all savings accounts and excess policies and put every extra cent into your bond or negotiate a better interest rate.

By: allie

allie — Sun, 05 Oct 2008 01:20:00 +0000

please confirm if im correct. i have a bond which = R750 000. THE HOUSE COSTS R800 000. I have 5 months to pay the R50 000 to the owner of the house. If I pay R10 000 per month to the bank for 5 months, this means i now owe the bank R700 000. BECAUSE I HAVE AN ACCESS BOND, does this mean that the bank will put in R50 000 into by account which will be availavle for me to withdraw and pay the owner his R50 000? am i understanding this correctly?

By: Rudi

Rudi — Wed, 15 Aug 2007 19:52:45 +0000

Hi
I would like to know more about an Access bond.
What’s the difference between an access bond and normal bond?
Is the interest rate lower?
These are just a few questions I have.

Let me know if it can be answered.
Thank you
Rudi

By: Tseliso

Tseliso — Fri, 22 Jun 2007 11:34:13 +0000

I would like to find out more information about access bonds, property tranfers and sales in general. Particularly involving a co- signing or principal signatory and eventual transfer of the propery to a beneficiary.

Need to know