Luthando Vutula

ABSA Home Loans ask buyers for even bigger deposits now

2010-04-20T10:11:46+02:00December 1st, 2008|ABSA Home Loans, Nedbank Home Loans, Types Of Home Loans|

  Home Loan Lending Policy: ABSA, Nedbank tighten mortgage lending Nedbank and ABSA Home Loans have further tightened their mortgage lending criteria, effective 1 Dec 2008. ABSA - SA’s largest home loan provider - has lowered their maximum home loan to 85% of the property value / purchase price. While, Nedbank homeloans are only offering up to 90% bonds. Although interest rates are expected to drop in the near future, ABSA has stated that they will not ease their loan requirements until property prices begin to increase again. Luthando Vutula, Managing Executive of ABSA Home Loans has also come out saying that the days of 110% home loans are gone. 110% home loans (no deposit homeloans) were usually issued