The doors are now opening.
Absa home loans this morning announced that 110% home loans will be offered to lower income earners. This is a big bold move that seems to have been started by Std Bank home loans.
According to the Business Day:
MORTGAGES of 110% are now available to low income earners, ABSA said today as it adjusted its lending criteria.
“Absa has become the first bank to provide relief to low income earners by offering 110% bonds with a monthly income up of to R11,000,” the bank said in a statement.
“The turn in the economic cycle is becoming evident and as such we need to review our customer offerings.
IS THIS THE TURN OF EVENTS WE'RE WAITING FOR?