When it comes to home loans, there is a common misconception that your own bank is going to give you the best deal. While it would makes sense for the major banks to offer their own clients better services and products, in reality this rarely occurs for new home loan applications. Each bank has its own lending criteria and different methods of calculating risk. Although you may already have an existing profile with your bank, that bank might be reserving their best deals for a particular type of client, or for properties that meet a particular type of profile. There are a wide range of factors that could affect the banks' view of your application. Read More Here About:
UPDATE: ABSA HOME LOANS have extended their 110% Home Loans offer. Click Here: What are the Basic Requirements? 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 Loan News: Standard Bank, Fees While interest rate cuts have helped to free up some extra cash for many Mortgage Bond holders, Standard Bank have used this opportunity to get their hands on some it. The bank recently announced that the administration fees of many of its home loan clients will be hiked, starting 1 June 2009. It’s well known that Standard Bank have been struggling following the economic downturn, and this recent admin fee increase may help to recover much of its loses. Speaking on Moneyweb's SAfm Market Update, head of Standard Bank Home Loans, Rob Katz said the price you pay will depend on when you took at your home loan. "It's dependent on when you
Previously, new home buyers were able to secure a full mortgage bond of up to 108% (to help cover costs) from all the big banks. As of 23rd Oct 2008, Standard Bank Home Loans division will only be granting Mortgage Loans to a maximum of 95% of the property value.
Standard Bank Home Loans With the property market slowing down, it is not unusual to find the banks launching new campaigns such as Standard Bank's First Time Buyer promotion to boost their home loan business. The new home loan campaign aims to encourage First Time Home Buyers to enter the property market, at a time when sellers are often forced to lower their asking prices. Standard Bank Home Loans are offering all first time buyers an opportunity to save on their bond registration costs, and their homeowners and life insurance costs. But home loan consultants warn that although you may save on costs in the short term, Standard Bank are not offering the best interest rates currently, and you
For New and Existing Home Loans, Further Bonds and all Debt Consolidation finance SA Bond Originator: Property Loans offers you an ALL-in-One Bond Origination Service. Shopping around for the best home loan interest rate can be very time consuming and since you homeloan is probably the biggest financial commitment you'll ever have its important to ensure that you're getting the best bond deal currently available. 4 Things to look for when searching for the best home loan package: 1: Super Low Interest Rate Our mortgage Consultants will send you home loan application to all the major bond providers in South Africa - including: ABSA, FNB, STD Bank, Nedbank and SA Home Loans 2: Discounted Bond Costs We are able