Tuesday, 23 December 2008

UAE Property Market and 2009 for you

So its not all bad news there are still some good things happening out there in the UAE.
Just get into the right place and space

Rental Finance is available from Independent Finance in Abu Dhabi, Dubai, Sharjah and Ajman
Banks still offer mortgages up to 85% but with conditions

then there is....

Abu Dhabi Commercial Bank has reported that its mortgage volumes have halved while mortgage applications are down from 35-45 to 15 per month. The bank has also increased its mortgage rates from 7.5% to 9.5% and dropped its loan-to-value (LTV) ratio from 90% to 70%, although 85% is available for customers with the best risk profiles. The Emirates Inter-bank Rate (Eibor) has appreciated significantly above Libor over the past few months, making UAE home loans particularly expensive. Banks are also worried about possible price declines, so they are demanding more in down payments. HSBC has cut LTVs from 85% to 60% for apartments, and to 70% on villas. Lloyds TSB will only make loans on villas, and not apartments.

The local mortgage companies Tamweel and Amlak have cut LTVs to 75% and 65% respectively, and are in the process of merging their operations. Both previously raised their money in mortgage securitisations that are now impossible in the current market. Local liquidity has become very tight, as the UAE has suffered both an exodus of cash from falling stock markets and from revaluation speculators, while raising money internationally has become very difficult during the global financial crisis. Ironically the Governor of the UAE Central Bank said last week that there was now far more enthusiasm for the GCC single currency - and that could well mean a revaluation is back on the agenda in the near future. However, the mortgage market in the UAE is very small by comparison with most housing markets of the world, and could indeed be one of the smallest. The majority of local housing transactions are made in cash, and so the tightening of housing credit is not the end of the world.

It is, however, clearly the end of house price increases for the time being, and for people who want to sell out in a hurry then big discounts will be necessary. Apartments are far more difficult to sell than villas. For off-plan apartments, particularly in the less central locations, it is probably impossible to sell at any price because no buyer will be willing to take the risk of future price falls. New off-plan sales have stopped. Whether it proves to be the case that the UAE is a case of last-in, first-out in the global real estate recession remains to be seen. A government initiative to keep credit flowing to the housing sector would seem necessary to avoid a true real estate crash in the emirates which would be damaging to the long-term interests of the country as an investment safe haven. That said, the problem is small enough and the solutions easy enough to implement for the government to avoid the kind of property meltdown now happening in developed markets. Indeed, the UAE could be in a position to attract new investment from these troubled countries if it plays its hand correctly. Then the market shakeout of the next few months would emerge as a bull-market correction and not a crash, and those panicking and selling out for a big discount would look rather foolish

sooo heres my message for now

This is what makes me feel alive news like this and I wake up daily feeling like today is just a beautiful day. Then I know that I can ignore the bad news and read only the good news, because I am spreading it myself and that's what I can do to make it better. 2009 c'mon baby

Thursday, 11 December 2008

And The TREND begins!

South Africa's latest interest rate: 15%

The reserve bank issued a notice late this afternoon to say that the repo rate was dropping by 50 basis points...

I think a great move and hopefully a super trend.

We should see a nice decline by April 2009 of around 200 basis points I believe.

Anyways, the SA Reserve Bank Christmas gift to all South Africans.

WizardMan Out.

Feel Good People

I don't know where this article or clipping came from, but it was sent to me via email and I want to share this with the world....

It's is a motivational writing that actually gave me goosebumps. Read it, and enjoy.

Well, 2008 has certainly given us something to think about!

I woke up this morning and said to myself, what a beautiful morning, now what am I going to do to make it better!

What really got me going was while travelling I was thinking how the future of the world was pumping in the beginning of January 2008 and we all had some serious aspirations and resolutions for the year AND suddenly everyone, everywhere is talking about the credit crunch, the burst bubble and suddenly everyone is cutting costs, staying at home for the holidays and holding off buying that property they were thinking of getting, selling their expensive cars, panic, panic, panic.!!

Well we suddenly hear of a recession in America, Europe and the global markets are taking a bombing, governments are bailing out and talking about bailouts and what are we heading for, the Credit Tsunami of all Tsunami's......................

So when I woke up this morning and saw what a beautiful day it was, I refused to panic!

Guess what? This is not the first time there's been a situation like this. Every few years we experience these kind of events. We experience very exciting and nail biting massive economic growth, everyone is on a high and the "investors" are buying whole floors of apartments to be built in the future and selling them off in a quick profit turn with numbers that makes your head spin. We all want in, now, today!! We have and share holiday homes in Mauritius, Thailand, Spain, wherever the sun shines and you can suntan! And the cars, man, enough to make your head spin.

Guess what! The positivity and pump and hype gets so ahead of itself and the world economies start to overheat and actually some even have a meltdown, and then panic sets in because the economy seems to be collapsing when in actual fact it's simply making adjustments back to a some form of normality.

So what's happened before, we have seen many stock market crashes in the world, we have seen interest rates hit 25% and property prices crashing and you couldn't give away your house. In 2001 we had 9/11 and America has been at war since reinventing its economy. We had a Christmas day tsunami and we all mourned together. Oil prices jumped through the roof and then plummeted. The UN became the biggest freebie hand out organisation in history(talk about making a living out of donations mmmm), Mumbai had its worst day in years with the attacks recently and Mugabe has let his people die of cholera for power. Lehman brothers started the rot and all those guru books we read over the last thirty years are all being thrown out the window as being wrong, while the new gurus tell us - GET BACK TO BASICS and guess what.......on each of these occasions everyone thought it was the end of the world and that there was no light at the end of the tunnel and each time, believe it or not, the world did not actually end, it recovered and in fact things continued to get better.

So, I am sure that 2009 will be a far tougher year than we expected but we must be smart and be ready for what is coming at us. This means each day when you get up think what a beautiful morning, "now what am I going to do to make it better" - get ready for the next wave of life.

Make a positive mental note of everything that is happening now, because it will happen again and again, and if you don't recognize the symptoms you'll be suckered into the same negativity, and forget to look for the opportunities. So what if you have to work harder. You have been doing so for years.

It's easy to be negative. Subconsciously, you want to be negative! Whenever you open the papers they tell you about the worst and most vicious story and the most corrupt politicians and global warming. Why don't they dedicate more pages to the fact that there are great Samaritans out there helping others and that the white Lions of Timbavati have been saved from extinction? Because bad news sells(Bad news is Good). Good news is boring (Good news is bad).

Everyday we still have great weather and the demand from mankind continues to accelerate for resources food, fuel and, and and .... of course the governments around the world are bailing people out and man in his wisdom is working flat out to ensure we survive and restart the world economies and there is a birth of a massive and all-encompassing new industry happening as we speak. We just have not named it yet.

So I smile and strangely quite contently continue to deal with high rents, managing costs, bad drivers, staff needs, sharing problems, talking, dealing with irate clients, dealing with irritating bank staff, construction and dust as a daily occurrence, 45 degree summers, sand storms, late night flights, skype, bad coffee, a poor exchange rate, Zaatar(Thanks prince for the into), free advertising, handing out pamphlets, working with government departments, short notice for holidays and making my own bed daily.

This is what makes me feel alive and I wake up daily feeling like today is just a beautiful day. Then I know that I can ignore the bad news and read only the good news, because I am spreading it myself and that's what I can do to make it better.
JUST FEEL GOOD!!!!!!!!!!!!!!!

Friday, 5 December 2008

BLOG Updates

Hi All...

I do apologise for the wierd posts that will be updating your RSS feeds and mailboxes, but we've realised that ease of use and navigation across posts is not exactly the easiest thing in the world on our South African Property BLOG, so we're going to make your lives easier.

HOWEVER, to do this, I need to publish some posts that will mean almost nothing to you all.
If you like them, woohooo... if you don't, please don't leave us yet. I can guarantee some good content coming soon.

WizardMan Out

Absa home loans

Absa Group Limited is one of South Africa's largest financial services organisations, serving personal, commercial and corporate customers in South Africa.

The ABSA Group interacts with its customers through a combination of physical and electronic channels, offering a comprehensive range of banking services, (from ABSA's basic products and services for the low-income personal market to customised solutions for the commercial and corporate markets), bank assurance and wealth management products and services.

We at SA Property and Wizard have daily contact and dealings with ABSA home loans and ABSA bank and hence we feel the need to put across our opinions and news pertaining to this massive banking GIANT.

Welcome to the ABSA home loans section of our site.

SA Property Articles & Posts


Absa Bank - SIGH!!!!!!!!!!!!
Absa Home Loans - MyHome, affordable housing
Absa Home Loans - No more 100% bonds
Absa Home Loans - Affordable home loan solutions
Absa Home Loans - Latest lending policies
Absa Home Loans - Flexi Reserve policy changes
Absa Home Loans - New Credit Lending Policies
Absa Home Loans - Fixed Rate Policy
Absa Home Loans - New international mortgage offerings

Absa Home Loans - Charging too much
Absa Home Loans - Flexi Bond Access Bond
Absa Home Loans - WAKE UP!!!!
Absa Home Loans - Winter Special...
Absa Home Loans - Win a R1, 000, 000.00 with ABSA

Absa Bank - SIGH




Is that how you're feeling? Is it maybe a long tough year just drawing to a close with the only thing that you're able to muster out of your mouth that makes any sense a sigh?

Well, Let me tell you a little story that's enough to make you want to cry never mind sigh.

ABSA home loans at the moment seem to be a bank that's taking strain.

With all the current publicity going on and a number of scandals that seem to be crawling out of the woodwork, ABSA have taken a knock.....

The department that seems to have been affected the most, is ABSA Home Loans. Apparently with a new state of the art home loans system that they've put into place, ABSA don't seem to be able to assist you on the phone at the moment.

Apparently 2 weeks behind on applications, and systems so slow that the agents are saying they actually cannot work on them, what in the world is ABSA doing? I've had clients waiting 2 - 4 weeks for replies on bond applications, IS THIS ACCEPTABLE, when their turn around times are meant to be in the region of 3 working days?

ABSA, I think it's time you caught a wake up. Your competitors are steaming ahead of you right now and in these tough economic conditions that we're facing, I don't think you guys can afford to loose any good deals because of poor service levels.

Pick it up boys, pick it up quick!

WizardMan Out!

Tuesday, 25 November 2008

Want to be a Bond Originator? We're Hiring!

So, you're probably thinking, how the hell can a bond origination company like Wizard Midrand Home Loans be hiring.

Well, we figured, with so many people within the banking sector and financial sector loosing their jobs at the moment, who is going to capitalise on that loss?


We're looking for bond consultants. Full time, part-time, anytime you want to work...

We offer super commissions, your overheads will be minimal and if you're GOOD, your profits will be huge.

So if you're an ex banking consultant or bond originator, possibly an estate agent or a property developer, in fact, even if you've just popped out of school and you're wanting to earn some extra cash, give us a call today!!!!

+27 12 341 2223 and ask for Steven or reply to this post.

Bond Consultants Wanted!

Wednesday, 12 November 2008

Calling All Bond Originators

Here's a little tip or two for all you bond originators out there....

Make sure that when you submit your applications to the banks that you fight for your deals.

Chances are, your applications are going to be declined upfront by most banks.

DO NOT ACCEPT DECLINES if you believe that your application should go through.

We're finding that with many banks right now, that their initial applications they're declining. With a little fight, we're getting grants, and with even more fighting we're getting 95% and on some rare occasions 100% loans (this will change within the next week I guarantee).

So, make sure you have your qualifications done correctly!
Make sure you've done a credit check on the client, if you have payment profiles even better!
Make sure that your clients RTI (Repayment to income) does not sit above 30%!
Make sure there is enough disposable income at the end of the month for the client to pay for their bond!
Last but not least, deposits people!!!!! Believe it or not, there are still agents out there trying to get 100% bonds on all their applications!!!! NOT GOING TO HAPPEN.

Having said that, you can't blame everyone for trying can you.


ABSA Bank: 90% loans
Std Bank: 85% loans
Fnb Bank: 100% so they claim
Nedbank: 95% loans

Keep on pushing SA.

Friday, 31 October 2008

Top 5 buyers tips for a declining real estate market!

Goooooooooooooooooooood Morning South Africa......

For those of you visitors who aren't native to South Africa, we used to have a TV show in the mornings (the apartheid days) where we all used to sit around the television and wait for the first morning show to start at 6:00 am (i think) called "Good morning South Africa", just thought I'd add my little "Gooooooooood morning Vietnam" twist to it...!

Before I carry on with my "5 safest buys in a economy that's taking a beating" post, I just wanted to say that I'm tired of people feeling sorry for themselves. I'm tired of people being unhappy in these gloomy times and I think it's time that people realised that even if it's a GLOBAL meltdown of world economies that we might be experiencing, there's always light at the end of the tunnel, and I think it's times like these that we all need to stick to friends and families and see the positive side to life! MONEY is not EVERYTHING!

So, smile, be merry & we're going to try and help you do that by giving you 5 tips for buying properties in a tough economy. Remember, when economies are down, people need money, this means bargaining skills and patience are the keys to scoring that ultimate real estate investment.

We have one advantage to our interest rates being so high. Those people that bought houses that they couldn't actually afford, are the people that are going to have to downscale (no offense to anyone but it's the truth). It means they're going to have to sell, or their properties are going to be repossessed. However, with times like these the banks aren't granting home loans. This is resulting in a massive influx of houses going on auction.

TIP 1: Keep your eye our for auctions, BIG BIG BARGAINS.

Think about your property before you buy it, think about the location. Everyone needs schooling. So why not buy around close to a school or educational facility like a varsity or college? It means you can save money by allowing your kid to walk to school. It's also a very safe buy because generally, prices of house around schools don't decline. I bet a piece of real estate next to Harvard or Cambridge is worth a fortune :)

TIP 2: Buy close to a school or educational facility.

Deposit, Deposit, Deposit... Make sure, that you have enough money to pay a 10% deposit PLUS cover the registration and transfer costs on a property. With banks being as tight as a ducks backside at the moment, it's imperative that you put down a 10% deposit. In fact, most banks are probably going to end up offering 90% loans by the end of the year.

TIP 3: Put down 10% deposit and cover bond + registration costs

World Cup 2010, tourism boom!!! Where are the stadiums? Where are the tourist hangouts and places to be for travel industries throughout South Africa. Do I need to say more on this topic? Let me give you a hint, Cape Town - Seapoint & Greenpoint seaside apartments. You will not get a better return on rental investments anywhere in the world. Greenpoint stadium is right up the road, Waterfront is right down the road, and it's central and on the seafront. I'm buying!!!

TIP 4: World Cup 2010 rental market

Use a bond originator to get your home loan. The silliest and most simple mistake you can make when applying for a home loan is to not use a bond originator. The service is free, the admin is ZERO and they'll apply to all the banks on your behalf at NO COST. It's really a no brainer. They know the tricks of the trade and WILL fight for your loan as it's their living!

TIP 5: Use a bond originator when buying property

Hope this helps.
WizardMan Out!

Wednesday, 29 October 2008

US set to cut interest rates

Breaking news this morning....
Looks like the US Federal Reserve is set to drop the interest rates by 50 basis points.

This will be one of the biggest rate cuts in US history dropping the interest rate to just 1%.

Will South Africa's reserve bank follow suit? Or are we going to have to sit out the 15.5% interest rate until early next year?

What do you think?

Monday, 27 October 2008

More on ABSA's flexi reserve policy changes


Absa Home Loans has taken a decision to amend the FlexiReserve Comprehensive facility.

The bank’s stance to amend the facility was primarily due to the decline in property values over the past six months. Allowing access to the original loan granted without a validation of the property's value poses an increased risk for both the customer and Absa. As a responsible credit provider, the bank acknowledges that the amendment of the facility will prevent customers from going further into debt, thereby placing their homes in jeopardy.

This means that customers will now access the equity in their home loans differently as of 24 November.

The FlexiReserve Advance/Prepaid option is not affected by this change. Customers may still access the extra money paid over and above their regular instalment. If customers do not have this facility loaded onto their account, it can be loaded by filling in a form at any Absa branch.

Customers can access the advanced/prepaid amount through our mechanisms such as internet banking, cell phone banking, telephone banking, Absa ATMs or any Absa branch.

The Absa FlexiReserve Comprehensive facility enabled customers to withdraw the money already paid off on their Home Loan at any time. Customers can still access these funds until 24 November. Thereafter they will have to apply to do so and will be subject to standard credit criteria and pricing. Successful applications will have the facility re-instated within in 24 hours.

If a customer’s home is worth more than the value of the Absa home loan they took, the customer may apply to increase the value of the loan amount. This is a Absa Further Re-advance option and normal credit criteria and pricing policy will be applied.

Should you have any queries on this facility, please contact us on 0860 111 007 or email home@absa.co.za.

Other Absa home loan articles:

Absa fixed rate lending policy

Absa, no more 100% bonds

Absa international mortgages

Absa home loans, a switched on unit

Thursday, 9 October 2008

SA Interest Rate Cut Looms?

The picture to my left, is because I have been useless... I've neglected my BLOG and neglected you my readers.

So with that little sad thought in mind I've decided to make a little more effort. Take a little more time in writing my BLOGS but giving you, the readers good, unique, fun readable content, that'll make you laugh and smile and cry at times (that's just how things are in the times we face)...

Now that I've made you all cry, lets talk about something a little more interest"ing".

There's been alot of speculation about the interest rate cuts worldwide. As you all have probably heard by now, half the 1st world countries have decided to drop their interest rates by 1% or more. This in an attempt to slow down the economic melt down we're currently facing and of course in an attempt to save markets from crashing along with helping people save money!!!!!!!! OH REALLY!!!!!!

So if this is what was intended, it most certainly has not had positive effects on the GLOBAL economy or on South Africa more specifically. Another thing that interests me, is why South African economists along with our friend Tito Mboweni decided not to drop our interest rates?

Does South Africa have the most advanced banking systems in the world?

We've not felt the knock like the rest of the world, and our banks are still in an ok position.... We're also lucky in the sense that should there every be a need to drop the interest rates dramatically, we've got a whole 15.5% to play with people.... Countries like ITALY where interest rates sit at a cool low 1%, are in trouble.

So, if you're South African and bitching about paying 15.5% interest on your current home loan. Think AGAIN, Think Mcain!!!

WizardMan Out!!!!

Cityscape Dubai - ROCK AND ROLL

So Cityscape 2008 has been a cracker!!

The new Nakheel Tower 1 KM high thats awesome.

All the news daily through the local papers and newsguys

Well if ever you wanted to see what the future holds for the UAE this has to be the event to see.
A pity that sales were not happening on site and were being left for later as the normal frenzy was missing a bit, however last nights after party (sorry invite only) at Mina al Salam was a frenzy on its own finishing at dawn. Well done Cityscape you guys have done a fine job.

Even with Loans being reduced to 75% of sales value and everyone panicking in the world markets, sales are solid, mortgages for serious buyers are on the go and the UAE is cool.
Lastly, if you want to invest in the UAE or Dubai contact Independent Finance to get you a pre-approval and then invest here, they love South Africans!!

Tuesday, 30 September 2008

Standard Bank Loan To Value changes

Standard Bank Home Loan Changes to Loan to Value (LTV) Criteria

Further to Standard banks previous changes where they announced the need to revise their LTV criteria for new loan acquisitions, Standard Bank have advised that they have put measures in place to further tighten those loan criteria.

Standard Bank have now made the following changes which will be implemented with effect from 5 October 2008.

The LTV adjustments are:
· R0K to R2.5Mil 95% LTV
· R2.5m to R3.0m 90% LTV
· R3.0Mil and above 80% LTV

Restrictions on Vacant Land remain as they were at 75% for Standard Bank Current Account customers. For non Standard bank Current Account customers the LTV will be 75% for loans less than R1m and 65% for loans greater than R1m.

In addition Further Advances will be restricted to 85% LTV, where they were previous 90%.

Standard Bank have recently communicated that collateral can be supplied in the form of government guarantees and covering bonds to support the deposits required.

Wednesday, 17 September 2008

South African Banks - World's Best

South African Banks Who the hell do they think they are?
What is this nonsense about a new National Credit Act?
Why the hell are banks no granting bonds anymore?

Are these questions similar to the headlines you've been reading the last couple of months on most of South Africa's blogs, websites and newspapers?

Well, let me clarify something for all of us today!
If it wasn't for the credit lending practices that we've put into place. If it wasn't for South African banks putting tightened grips on lenders and it wasn't for South African banks who decided not to sell off bad debt and try make money from it, we'd be in the same boat that most of America's banks and lenders are finding themselves in.... More debt than they can handle and liquidation.

So this article goes out to the South African Government and Banking Institutions for keeping their companies afloat and in turn making South Africa's banking and lending amongst the top in the world.

Well done SA... Well Done!!!
Banking Regul

Tuesday, 16 September 2008

Bond Originating in Dubai and Abu Dhabi

The doors are open, not closed, for good Mortgage originators and now is the time to look at your opportunity.

Home Loans are different and you do it all but the rewards are good for those who know how to pull finger and graft hard.

Rent is expensive, food is reasonable, petrol costs nothing and it's a hot place and ramadan is a time for reflection and sharing.

But there are some great folks out here, who love it, work hard, play hard and show respect, respect, respect.

So if you want to do mortgages get your experienced butts (and CV) to the leading mortgage broking company. ONLY FOR THOSE WHO ARE NOT FAINT HEARTED!!!

Monday, 8 September 2008

Affordable Housing - SUBSIDY HOMES AND MyHome!

ABSA's MyHome product aiming to target the lower income bracket of South Africans and looking to dominate the market.

Secondary Market

The secondary market is multi layered as follows:

Un-bonded properties-these are properties that were built without any financial assistance from banks and also includes old “ 99 year lease hold. Subsidy homes/breaking new ground(BNG) Homes-formerly were known as RDP, were given to people by government for “free” to address housing backlog in South Africa


  • Lending will be limited to 60% or loan to value or R100 000 of the valuation whichever is the lesser.
  • Customers must produce the original title deed.
  • Customers must attend Borrower Education sessions to be arranged by Absa.
  • Ensure that pre-emptive clauses on the top structure has lapsed on Subsidy Homes/BNG homes and /or there are no restrictive conditions of title of any sort.

Target Market

  • Income between R1500 to R13000( Gross Joint Household Monthly Income)
  • Minimum Loan size from R20 000 to a maximum of R400 000.
  • Customers who have the original Title Deeds of the property being bonded


  • The MyHome product – Joint Gross Monthly Household Income less than R7500
  • Purchase price plus costs (Maximum risk to value of 80% and maximum loan to value 110%)
  • Collateral Replacement Indemnity Scheme (CRIS) up to a maximum of 30%
  • ABSA Home Loan Protector Plan
  • Borrower Education-every client who takes up CRIS

Loan Inclusive Costs

  • Where customers do not have their own costs i.e Initiation Fee and/or Bond registration these costs can be built into the loan granted amount limited to the customer’s affordability, however the maximum loan to value /Risk must not be breached and this only applies to MyHome.

Borrower Education

  • Borrower Education empowers customers with knowledge to enable them to make more informed decisions about a home loan, their finances and lifestyles
  • Knowledge leads to greater financial independence which leads to the adoption of better,more informed financial practices.
  • Limits or reduces the incidence of default.

Compulsory Borrower Education

  • All customers who have Collateral Replacement Indemnity Scheme (CRIS)
  • All customers who are buying a home for the first time
  • All customers who are applying for home loan finance for the first time.
  • Affordable Housing MyHOME customers will also receive the following additional propositions:
    -FlexiReserve Advance ( prepaid) option
    -Homeowners Comprehensive Insurance
    -Fast Forward

Home Improvements

  • Home improvements include: alterations and extension made to the property i.e adding a room or building garage or various other home improvement options or Cosmetic improvement i.e tiling the home, painting ,plastering. All this will increase the value of the property.

From what I've heard, the lending policies on the ABSA MyHome product are alot more lenient than on your normal home loan, so credit policies will most likely not be as forced as well.

Nice product.


Monday, 1 September 2008

Sanlam Home Loans

Sanlam Money Manager.

What is “Sanlam Home Loans Money Manager” ?

The Sanlam home loans manager account is a facility available to Home Loan clients which allows the client to spread debt over more than one Home Loan account.

Sanlam Home Loan Money manager can ONLY be taken up on a new loan application or a Further advance application;

Each Sanlam Home Loan Money Manager Account can/will be subject to a different rate/rate structure and repayment term - Normal home loan rates/rate structure apply i.e variable / fixed

Each Sanlam Home Loan Money Manager Account has it’s own individual account number

The client can select on which “Money Manager” he requires the Flexi Reserve facility (Pre–paid option ONLY) - A client need not have FlexiReserve facility to be able to utilize this product

Each account must be paid via a separate debit order instruction which may be from a different source;
Each account will have a separate statement;
Up to 10 different accounts may be opened;
Each account can have it’s own designation e.g. Primary account: called: " Home Account", Secondary Account no 1 called: "Pool Account", Secondary account no 2 called "Holiday Account"

How the product works?

Thursday, 14 August 2008


I think most people really struggle when it comes to how the banks pay builders when you have a building mortgage or bond.
Mortgage Originators understand this, but often this is lost on the client until its too late.
So here are some tips, hints, tricks etc from your favourite SA property info site!!!
BUILDING LOAN/MORTGAGE - If you have paid for the land and now want to start building, make sure if you have an ACCESS type bond, that you move your access money into a different bank account while the building bond starts, else it will be frozen. Bummer.
Your builder will want payments for work that he has done. This is called progress payments.
The lending bank, will make these payments to the builder:
1. After receiving a signed request form to release funds from you. You can get these at any branch or ask your mortgage originator to get them. Make sure it gets to the bank 5 days before the money is required.
2. The payment will be based on the estimated cost of building work completed.
3. The lending bank will always calculate this payment and ensure that sufficient money is retained to complete your building. - They look after you.
4. This retained money is calculated by the banks. They value the work against the building contract.
5. Remember, get a reputable builder BECAUSE the bank will not pay for poor workmanship nor will they pay for building material on-site.
6. The bank WILL ONLY pay on the assessors amount not what you or the builder estimate (So dont ask for more than what has been done).
7. Never, never, never - sign a blank progress payment form and give it to the builder.
8. Its good to have a solid honest payment relationship with your builder, because he will always want payments. YOU ARE RESPONSIBLE FOR THIS - NOT THE BANK.
9. Normally 3 to 4 progress payments to complete your mansion.
NOTE: Interim interest is calculated on each of these progress payment amounts. This is over and above your loan.
1. Because part of your original loan money will be used up by interim interest you may not have enough money from your loan.
2. Make some partial payments to cover the interim interest as soon as the first progress payment has been made by the bank.
3. Or you must save some money and keep this as a provision to cover the interim interest since this can add up over the building period.
4. Dont get caught having to find a portion of the final progress payment from other funds.
Progress payments may differ from the actual cost versus the banks estimated cost.
Keep some funds available right up front before you start building, to overcome a possible shortfall.
Why the shortfall occurs is normally due to:
1. Loan you request is less than the contract price.
2.The builders contract price is LESS than the banks estimated cost to complete the building.
So remember that the bank, in the case of a shortfall, will insist that you have funds from other sources and these funds must be applied to the property prior to the Bank considering progress payments against the bond.
When the builder completes the contract and asks for final payment:
1. Check that you are 100% happy.
2. Only then sign off your happy letter for the bank.
3. get your certificate of occupation from the local authorityIn addition, a signed copy of the certificate of occupancy, which is obtainable from the local authority
4. Lastly CHECK if the banks requested anything else when they granted your loan.
Then the last payment will be made.
Simple - HA! Never. Enjoy your mansion.

Tuesday, 12 August 2008

The Light on the Horizon

Rest assured
that not to far
into the future:

Property prices will taste like honey
Interest rates will make you laugh again dear
The banks will love lending you money
The radio station will play songs you like to hear.

used Car prices will come down
The rand will rally against the pound
Oil prices will remain the clown and
Property values will gain ground


Sunday, 10 August 2008

If It's All About Credit - Clear Your Credit Record!

It's ALL about credit!

It's ALL about credit!

It's ALL about credit!

We know this, so why aren't we doing anything about it?
Why are the number of declines with regards to submissions for credit applications increasing every month? WE DON'T LOOK AFTER OUR CREDIT PROFILES!

Times are a little rough and with the Credit Act taking total control of any credit applications, whether it be home loans, credit cards or vehicle finance, financial institutions are having to abide by their rules. So people, lets get with the program and abide by the rules! There's nothing worse than finding the house of your dreams only to find out that you can't get a home loan because you haven't bothered making a little bit of an effort.

So what you need to do to ensure FINANCIAL SUCCESS?

  1. Check Your Credit Record - Click here for your ITC & Experian credit check
  2. Check for judgments & credit listings
  3. Contact the companies/people who have listed you and arrange to remove them
    1. Often listings are old because the bureaus just forget to remove you
    2. Often listings are old because the companies you listed you haven't bothered contacting the bureaus to have to removed
  4. If you pay off outstanding debts, make sure you keep proof of payment (this will be required by financial institutions from time to time
It's easy and it really doesn't take much time.

Things to remember which will assist you in keeping track of your credit records. The banks have systems that link into the bureaus which show you credit profiles for clients. Credit profiles allow the bureaus to link into all financial institutions that offer credit eg Edgars Accounts or Credit Cards;
  • Don't pay your accounts late
  • Don't miss payments
  • Don't let debit orders go off your accounts without having funds available
Well that's that for now and I hope this helps you all. Truth is you want a clean credit profile and so do we :)

Keeping SA Credit Clean!!!

Thursday, 24 July 2008


Interest Rate (%pa) Effective From
15.50% 2008-06-13
15.00% 2008-04-10
14.50% 2007-12-07
14.00% 2007-10-15
13.50% 2007-08-20
13.00% 2007-06-11
12.50% 2006-12-11
12.00% 2006-10-13
11.50% 2006-08-03
11.00% 2006-06-12
10.50% 2005-04-18
11.00% 2004-08-16
11.50% 2003-12-15
12.00% 2003-10-20
13.50% 2003-09-15
14.50% 2003-08-15
15.50% 2003-06-13
17.00% 2002-09-13
16.00% 2002-06-14
15.00% 2002-03-18
14.00% 2002-01-16
13.00% 2001-10-01
13.50% 2001-07-16
13.75% 2001-06-18
14.50% 2000-02-01
15.50% 1999-10-04
16.50% 1999-08-16
17.50% 1999-07-14
18.00% 1999-07-02
19.00% 1999-05-03
20.00% 1999-04-02
21.00% 1999-03-02
22.00% 1999-02-02
22.75% 1999-01-04
23.25% 1998-11-16
24.00% 1998-09-02
22.00% 1998-08-03
21.50% 1998-07-16
20.00% 1998-07-02
18.00% 1998-03-16

Tuesday, 22 July 2008

Why Should You Buy Now?

Yes, call me mad but NOW IS THE TIME to buy property. High inflation and high interest rates have ensured two things:

  • If you buy now you will be building wealth – the value of houses tend to double every 10 years so now is a good time to get into the market. There is a lot of stock to choose from and the prices are highly negotiable ensuring the best prices. Check out http://www.myroof.co.za/ - Cut your agent costs and fees TODAY!
  • Paying your own bond and not paying rent enables you to gain access to the wealth: in profits, when you sell the property or equity on the value for improvements. This can be used towards education or even buying a second home.

  • You will also have a measure of freedom that comes from owning your own home. You can decorate as you want, add on and benefit from the enjoyment of the improvement and the growth in value of your investment.

Also you can be building equity by paying your mortgage off sooner; this can be done by paying more than the minimum instalment each month like a ready made savings plan, allowing you to pay off more capital and save thousands in interest.

I will reassure you of the steady and growing demand of buyers is SA. The growing amount of people who are keen and financially able to buy their own homes are growing thanks to broad-based black economic empowerment so there will be a continued demand to sustain the value growth that builds wealth over the next few years.

“The Mystic”
rosettap @ wizard .za .com

Friday, 18 July 2008

Happy Birthday TATA!

Dear Tata
We wish you all the love back that you have given us
We wish you the strength of a 1000 warriors
We wish you so many more special days like those that we have got from you
from your humble friends and admirers
and the rest of SA!

Tuesday, 15 July 2008

Standard Bank Ends Stanrands Program

I know alot of estate agents out there loved the Stanrands program that offered a nice rewards program for business done through Standard Bank, but in light of the current economic situation and changes in Standard Bank Home Loans lending policies they have decided to withdraw this program until further notice.

See the letter from Standard Bank Below:

We are all feeling the affects of a slowing market, and are having to adjust our organizations and offerings accordingly.

In light of these tougher economic times, Standard Bank Home Loans has taken a decision to shutdown the earning of StanRands, as a blanket rewards programme, for the time being.

This means that as of July 31, 2008 estate agents and principals will no longer be able to earn StanRands for business registered with Standard Bank. This means that claims can be made for bonds that registered before July 31, 2008 in terms of the current rules.

StanRand members will, however, be able to redeem StanRands, onto their StanRands Gift cards, until December 15, 2008 with our Call Centre until that date.

Once the StanRands have been credited to the card the value will be available until the card expires. StanRands packages currently in place will be honoured

As in the past Standard Bank initiated campaigns will continue to run for particular geographic regions and agency/development groupings. Consequently, please hold on to your StanRands Gift Card, as the opportunity to earn further StanRands will be available through these campaigns.

Please could you assist us in ensuring that all StanRand members are made aware of these impending changes.

WizardMan Out!

Wednesday, 9 July 2008


Well you know how good this feels RIGHT.

So do the same with your property. Whether you buy from a great agent, or a so-so agent, make sure you ask the right things, give the right brief and enjoy; as this is your biggest investment. So buy today because in 10 years time its going to be a lot more expensive.

Get great advice and use a great mortgage originator. they will give you sound advise and work very hard to get you your best deal. You can even get financing in Botswana, Mocambique and Zambia from your South African bank. email your mortgage man today.

Same as attorneys, use one who gives you great advice, they are there and will steer you in the right direction. There are those special attorneys who will give you free advice before you even start.

If you need to finance those costs, get a personal loan and short-term at that. There are ways to make the property deals happen all you need to do is ask the professionals.

How can we help you feel like you are falling in love again?

Monday, 7 July 2008

Rate Tarts - New Terminology We Should All Be Using

Home “rate tarts” is a term that has been coined by the UK for consumers who constantly look for and chase after better deals from lenders in order to limit the pinch of rising interest.

It is now thought that South African home owners may have to revert to being ‘rate tarts’. According to various industry experts, the increasing interest rates are beginning to send SA buyers to develop a culture of bargaining, bartering and chasing after better deals and as there are definite indicators of the property market having dissipated slightly, the lenders may be more willing to bargain.

The shrinking margins and lowering of bustle in the South African property sector may lead banks to advertising their lending rates and competing on prices, something that has not been done by in the past. Another development occurring in the banks is the emergence of a ‘cancellation or defend rate’. The cancellation or defend rate occurs when a banks client threatens to move to another lender and cancel their existing mortgage at their current bank.

The cancelling (defend) department of their current bank is prompted to offer a further rate concession to the enraged client in order to avert them from moving to another bank. Consumers should use this to their advantage by talking to lenders about moving their mortgage thereby allowing for the greatest leverage.

It should be remembered that it costs approximately 1% of the value of the loan to move to another lender. This 1% can be covered by the equity that is accessible in the new home loan and can possibly be recovered in approximately 18 months after the change has been made. This term is otherwise known as Loan Switching!

If switching is something that interests you, give us call at Wizard Home Loans today and chat to one of our specialised consultants. Click here to chat to Wizard Home Loans.

Friday, 4 July 2008

SA Property BLOG reforms.

BLOGGING is such a funny thing. We've been going for just over a year now and if there's one thing I don't get is alot of criticism. Now the bad thing about not getting criticism is that you tend to think that you're doing everything correctly.

Well I received some criticism a week ago from a very big client of ours, and frankly after I was told that my Property BLOG was only portraying bad news, I was rather offended, BUT IT'S SO TRUE!!! With all the negativity and bad news that I've been reading of late, I've forgotten the true purpose of this BLOG. To educate people purchasing homes, to assist those looking for property finance and to give an all over GOOD and HAPPY feeling to everyone, because home financing and buying property is your biggest asset you'll ever have.

With so many people having credit issues, we're going to posting alot more tips on how and where to save money. Tips on using your home loan to your advantage. Tips on getting your loans approved with the banks...

So stick around people, this South African Property BLOG is about to get exciting!!!

Thanks to all those who've stuck around and thanks to those who've just joined us.

WizardMan Out!

Wednesday, 18 June 2008

LOAN WHO? OH You mean OOBALINK!!!!!!!

So now that OOBA has
fully integrated LOANLINK
into the fold -


has been born.

Parent and grandparent - oobaLINK and ooba have established their footprint on the african planet with offspring WIZARD and QUANTRO.

Saul Geffen - oobalink's pappa and Piet de Jongh - oobalink's pappa both firmly agree, this is the force of the future and the others will always be followers. First as Mortgage Originators, first as MO franchiser's, first with the ooba Insurance products and first with the best service offering you can get. Good boys!!!!!!!

Not the DODO but the CROCODILE (By the way did you know that the first known contraceptive was crocodile dung, used by Egyptians in 2000 B. C.[Does this explain Crocodile Dung Dee?]!! )- SURVIVING the MORTGAGE JUNGLE and growing, growing and getting better daily.

Strong mortgage originator brands such as WIZARD are now even stronger under the wings of ooba and the other brand QUANTRO also gets the same kick into life - its great to see.

WIZARD - who are the strongest franchise brand, is run by innovative entrepreneurs and focus 100% on client satisfaction. Like the all the animals in OOBAWORLD, welcome to ooba LIFE!

Friday, 13 June 2008

FNB - The Risk Takers - Go Get them!!

FNB - You guys are really great


we love your risk taking policies

NEDBANK Not Another Sheep - Just dare to be different!

NEDBANK bless your soul - at least you give the guys something to help them with their costs with your 104% deal!

Whats on offer you hotshots!!!

Nedbank you really have been great lately, we hear from clients all the time and they think someone has definitely got their act together. Well done guys. The Mage


STANDARD BANK - The Appetite for RISK!!!!!

So now we know whats on the table!!!

The Mage!!!

ABSA latest lending policy OKDOKEY!!!



Hi everyone

Attached is a summary of the criteria which ABSA are now working. Juggling the act is the name of the game - The appetite for risk has definitely reduced.

Remember – LTV means the amount of money being lent against the value of the property.

The Mage is Back!!!

South Africans, breathe again! Tito Takes It Easy!

Do I feel change coming on??? Do you???

Could it be the beginning of some good movement in our ever declining economy. Have the government and our finance ministers finally realised that interest rate increases are not going to solve the economic crisis we find ourselves in!!!!!!!!

Well done Tito on the 0.5% increase in interest rates yesterday.

It's a nice change and a breather for South Africa. Quite frankly I think the banks are a little tired of repossessing all these properties.

Are we now going to see another bold move??? WILL YOU (THE GOVERNMENT) REMOVE THE TAXES FROM OUR FUEL PRICES???

Well, lets wait and see.


Wednesday, 11 June 2008

Absa Home Loans Fixed Rate Policy

Absa Home Loans Fixed rates are determined on a weekly basis, based on the “Matched Funds Transfer Policy” (MFTP) rates as applied by Absa Group Treasury.

In the past, clients have had the option of taking up a fixed rate on application, final grant or after the bond is registered.

Fixed Rate policy change

With immediate effect, Absa Home Loans will only offer fixed rates on registered bonds, i.e existing business. The fixed rate may only be applied for after registration has taken place, and the applicable rate will be determined as per the fixed rates at that time, as published on http://www.absa.co.za/, under the Rates & Fees section.

Fixed rates will only be offered on existing loans and on “registered” new loans. This policy is to be applied until further notice

Application of the policy on further advances

If the client applies for a further advance and an additional amount is to be registered, a fixed rate will only be offered after the additional amount has been registered.

Where the client will not be registering an additional amount, meaning that the bond amount registered is enough to cover the further advance amount, a fixed rate can be offered to the client, however, the fixed rate will be determined at date of Final Grant.

The above is to be applied even if the further advance amount is to be allocated to a multi-plan account.

Other ABSA Home Loan Articles:
ABSA - A switched on unit
ABSA Home Loans - International Mortgages
ABSA Home Loans - No more 100% loans
ABSA Wake Up
ABSA Affordable Housing Solutions

Tuesday, 10 June 2008

Property Marketing Crash - PANIC In The Disco!!!!

Come on peeps. Stop all this bantering and raving and negativity. Stop of the bollocks. Quite frankly if Mr Geffen sent a letter out to his staff telling them they're about to loose their jobs well, it should've been private and stayed private but South Africans love causing SHIT and love stirring the pot.
According to reports from IOL.co.za " Lew Geffen, head of Sotheby's International Realty South Africa, to his franchise owners in which he predicted the pending crash at a 40 percent decrease, adding that there were 60 percent fewer buyers in the market now than at the same time last year.While other industry players have lashed back rejecting his predictions, Maurice Levin, PR manager for Sotheby's, has defended Geffen's claims."Lew is not afraid to pronounce that the industry is in a pickle. Many agency bosses talk it up because their livelihood depends on it," he said."
So what people, are you telling me that this all comes as a surprise???

New credit act, banks changing lending policies, inflation increases, GLOBAL crashes in the mortgage origination business, petrol price increases yadayadayadayada....
It's tiresome, business is slow, it's declining and let me tell you, we're going to see companies closing down in what is a very very over saturated market!!! REINVENT YOURSELF!!!
1. It's giving you the chance to diversify your business
2. It's giving you the chance to make changes to the way you work
3. It's time to find alternate ways and means of reaching out to world and showing them who you are
1. Property prices are dropping, this means that your average house price which at the end of last year was out of the reach of first time buyers is now coming back into our grasps.
2. We're now able to get those amazing deals that we would never have been able to get 6 months ago.
3. We're no longer being FORCED to by crap, we can be picky and choose.
4. We're no longer wasting money on fancy cars and investing in a good property is now back to the number 1 expense and investment in your lives!
People, this is how a country should be. We should not be wasting money on unnecessary RUBBISH! Cars are not your most valuable asset and never will be. Stop buying at Woolworths and start shopping around for specials.
It's time to get clever, it's time to drop the debt and start saving so that you can afford YOUR DREAM HOUSE!!!

Friday, 6 June 2008

A little Friday Funny!

I think it's time for a Friday funny!

Lets shed some humour into the credit pains we've been hearing about for the last couple of months.


Next time you get a letter to pay your debts from your creditors, be sure to remember Sipho's letter.


Dear Sir/Madam

I acknowledge receipt of your letter dated 1 May in which for the third time, you request that I pay the monies owed to you. I first want you to know that by no means do I dispute my debt and I intend to reimburse you as soon as possible. However, I bring to your attention that I have many more creditors, quite as honourable as you, and whom I wish to reimburse too.
That is why, each month, I throw all the names of my creditors into a hat and draw one randomly whom I hasten to refund immediately. I hope that yours will come out shortly.

Sincerely Yours,

PS: I have great regret in informing you that given the unceremonious tone of your last letter, you will not be taking part in the next three draws.

Tuesday, 3 June 2008

Affordable Home Loan Solutions

Make owning your home loan even more rewarding

With the increases in interest rates, high inflation, and a household budget that's becoming more difficult to manage, it's good to know that there are some banks willing to help out. ABSA Home Loans have a range of products out there to assist you in managing your home loan account and your finances. Here is a list of options available for you. Should you have any queries please feel free to respond to this post or contact Wizard Midrand for more assistance.

Competitive Rate Options: choose between a variable or fixed interest rate option. A variable rate moves in line with the mortgage lending rate, while a fixed rate stays the same even if the Reserve Bank increases rates. You can select to fix your rate from anything between 12 months and 10 years.

Extended Repayment: a great option for those struggling to repay their 20 year loans. Extend your home loan to a maximum on 30 years thereby dropping your payments. In order to avoid paying more interest over the longer term you can also reduce your bond period as anytime FREE OF CHARGE.

Fastforward: pay off your home loan sooner and save interest with the ABSA fast forward options. You have the option to revert to a different option at any time.

Multiplan: structure your ABSA home loan account so that you can make the most of your money available in it. Multiplan allows you to have the primary account and a number of separate accounts linked to it. You can use the equity in your home loan for whatever purpose you need.

FlexiReserve Facility: access the available equity in your home loan at any time and use it for whatever you want.

Further Advance: if your property has increased in value since you bought it, you can apply for a further advance, which is essentially a second bond on your home that makes extra money available to you.

Thanks to ABSA home loans for providing us with this great information. Lets get the credit appetite in our favor people. Make it work for you!!!

Other ABSA Home Loan Articles:
ABSA - A switched on unit
ABSA Home Loans - International Mortgages
ABSA Home Loans - No more 100% loans
ABSA Wake Up

Thursday, 29 May 2008

Property Legal Seminar - TPN Tenant Profile Network

TPN is proud to host our annual Property Legal Seminar

An invitation to all TPN members – Property Managers, Landlords, Agents, and other interested parties.
TPN remains committed to providing our industry with access to professional and relevant industry information.
We have partnered with Fullard Mayer Morrison Inc. for the 2008 Seminar.
Don't miss this opportunity to get a practical compact session


  • Charging interest, penalties and default administration charges
  • Terminating a monthly lease on notice
  • Cancelling a lease for breach
  • Practical aspects of the landlord’s tacit hypothec
  • Working with letters of demand
  • Reporting a defaulting tenant to the credit bureau: the new rules
  • Section 31 rent interdict summonses
  • Section 32 rental attachments
  • Commercial and residential evictions
  • Extra-judicial evictions considered

Capita selecta of certain practical aspects: liquidation, sale of building etc
Review of recent court cases and legislative developments impacting on leases

Where and When?
Date: 19th June 2008
Time: 08:30 for 09:00 – 16:30
Venue: The Theatre on the Track
Address: 1 Monza Place, Kyalami Business Park, Midrand
Cost: R600 (excl VAT) per delegate

    Space is strictly limited and is on a first come, first served basis.
    Should you indicate that you wish to attend, a confirmation of registration document and invoice will be despatched by e-mail.
    If you have any queries, don't hesitate to contact Michelle or Delia on 0861 876 000, or email them at info@tpn.co.za.

Thursday, 22 May 2008

Standard Bank Home Loans: Std Bank Change Lending Policy!

Standard Bank Homeloan Changes to Cost Inclusive offerings, Vacant Land and Loan To Value loans.

In light of current economic circumstances Standard Bank Home Loans has made the following changes with immediate effect

Cost Inclusive loans:

Standard Bank will no longer be offering Cost Inclusive Loans to NON-first time home buyers.
Jumpstart (first time home buyer) loans will be restricted to a maximum loan amount of R1 million (excluding costs).

Vacant Land:
All Vacant Land loans have been restricted to a maximum LTV of 75%.

Standard Bank will also require deposits for higher value loan amounts:
All loan amounts greater than R3 million will be restricted to a maximum LTV of 80%

Seems as though my predictions were incorrect! They're all following suit!!

Monday, 19 May 2008

Change With The Times! A Word From The Wizard Director Team!

“You can’t be a Real Country unless you have a beer and an airline – it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer.” Frank Zappa (1940 – 1993) rock and roll musician

“You can’t get a Real Bond unless you use a Real Bond Originator - it helps if you have a family banker, or closely related credit controller, but at very least you need a Bond OriginatorBruna "The Queen", Rock and Roll bond originator.

Bond Origination cannot be Real unless it offers the best choices to our applicants... we believe that a conservatively managed bond application is the only way to go ahead when putting together a home loan application. We, as bond originators need to be increasingly prudent for our clients so that they can buy what they can afford.

We want to continue building a strong working relationship with our clients even while fundamental reasons for negativity are undoubtedly of concern. Keeping things positive. Wizard Home Loans.

Tuesday, 13 May 2008

Absa's New Credit Lending Policy!

Followin on my previous article (Absa Home Loans), I thought I'd share a little more light into Absa's credit lending policy changes.

ABSA have announced that with effect from Monday, 12 May 2008, the following maximum permissible Loan to Value ratio’s will apply:

R0 – R800 000 : Maximum LTV = 100%
R800 000 – R2.7m: Maximum LTV = 95%
R2.7m – R4m: Maximum LTV = 90%
R4m: Maximum LTV = 85%

Vacant Land (irrespective of Loan Amount): Maximum LTV =75%

In circumstances where the applicant is able to cede suitable collateral security to the bond, thereby reducing the risk to the relevant maximum permissible level, ABSA may consider approving a higher loan amount.

ABSA will not entertain any cost inclusive loans, i.e. where the risk will exceed the above maximum LTV’s, with the exception of ABSA’s My Home product, where cost inclusive loans to qualifying applicants will still be considered.

Applications which are in excess of the above permissible LTV levels will not be submitted to ABSA.

Friday, 9 May 2008

ABSA Home Loans - No more 100% bonds! WELL ALMOST!

Well, if they're not trying to force property prices down in South Africa, I'll eat my shorts.

As of Monday 12th May 2008 ABSA home loans will only offer 100% loans to people purchasing properties under R800 000.00. Gone are the days of buying massive properties with no cash on hand.

As From Monday ABSA will place a cap on LTV(Loan to Value) going forward.

R0 – R800k = 100% bond
R801k – R2.7m = 95% bond
R2.7m – R4m = 85% bond.

This means that buying a property of R2.8million will require you to have a R420 000 deposit for your place.

Once again I put emphasis on the Sub-Prime Mortgage market in South Africa.

Other Articles:
Absa Home Loans - International Mortgages
Absa Home Loans - A Switched on Unit