Average Property Prices Are Still Dropping – FNB

The latest FNB House Price Index shows that although property prices are still declining (by about 2% each month) the rate of decline is starting to slow down, and we could begin to see positive growth towards the start of 2010.

Banks tighten their Home Loan Lending Policies

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.

New Home Loan Lending Policy for South Africa

South African Home Loan providers have responded to the current high interest rate climate and slow property market by tightening their mortgage lending criteria. FNB and ABSA home loans have lowered their Loan-to-Value limits from 108% to a maximum of 100% []

FNB Property Barometer

UPDATE: Click Here for updated property and house price reports Ed Grondel. CEO of FNB Home Loans has been interviewed on a number of radio shows following the release of the latest Property Barometer report. The report measures the sentiment of top real estates to determine the level of confidence Read more…