Monday 7 September 2009

Absa 110% home loans

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?

32 comments:

FHA Home Loans said...

People with bad credit can improve their credit standing by being regular in their credit transactions in the future. Credit repair has a positive impact on one's credit history.

Home Loans said...

It is obvious that if you go regular in your credit transactions your credit standing will improve. but is there any other way?

Online Home Loans said...

They've barely begun building it or getting funds together. I think we're a long way off a detailed timetable!

Property South Africa said...

I think its great that banks like ABSA are now offering home loans to low income consumers.

It makes their dream of buying property in south africa a reality.

The problem is that many South Africans have been living on credit cards and so have bad credit.
How are these people supposed to get home loans?

irene said...

I urgently need the name and e-mail adres of either the CEO or a Director of SAHL. I urgently need a complaint to be solved and do not get any satisfaction from their branche manager or Headoffice staff
If anyone can assist me of the above, please send the detail to
rimelju@telkomsa.net
Thank You

Anonymous said...

When everybody in the World is tightening mortgage requirements, lenders in South Africa start offering 110% home loans. Strange, very strange...

Steven Green said...

Irene,

Please see below:
Full Name of Company: SA Home Loans (Pty) Ltd
Nature of Business: Home loans provider
Date Established: 1999
Share Holders: JPM International Consumer Holding Inc., Standard Bank Group Limited and management.
No. of Employees: More than 750 staff members.
Auditors /Accountants: Deloitte & Touche
Bankers: Standard Bank of South Africa
AdvertisingAgency:The Hardy Boys

MISSION
Our mission is to be the most widely respected consumer champion, and the supplier of choice in our chosen fields: property finance and related value added services.

We exist:

To provide our clients with a superior financial services experience;
To offer our employees the opportunity of growth and prosperity;

KEY PERSONNEL
CEO: Kevin Penwarden
Executive Director- Sales & Marketing: Crispin Swainston Harrison
Director- InformationTechnology, Systems & Credit: Guy Saville
Chief Financial Officer: Rob Kelso
Director- Insurance:Tim Bean
Director- Operations: ColinYoung
Director HR &Training:Rashnee Pawaar
Director NewVentures & Loss Control: David Gorvin

CONTACT DETAILS
Head Office:
PhysicalAddress: No. 1 The Glades, 78 ArmstrongAvenue,
La Lucia, 4051, South Africa.
Postal Address: PO Box 3918, Durban, 4000, South Africa.

Web Design India said...
This comment has been removed by a blog administrator.
property investment news said...

some valuable info to people,nice! propertyinvestmentnewspd1.blogspot.com

Anonymous said...

Wow. Check out FNB Quick Sell property program. They got awesome properties at below market value prices and you get up to 100% bond and 50% discount on transfer costs.
Check it out.www.quicksell.co.za

facebook fun said...

its good to have home loans at a cheaper and an affordable interest..people have to select a right company for them to acquire home loans..i got a home loan recently in such way which made me buy a awesome house by the help and assistance given by home loans

afaadaasdadasd said...

Thanks for this nice informative blog post. When negotiating your mortgage rate, make sure your lender is prepared to lock in your rate for at least 30-60 days. This way you will be guaranteed a particular rate even if rates skyrocket the next day. Another not trick many individuals are not aware of is to include a clause that also will allow you to take a lower rate if rates fall during this period. This is a great mortgage rate tip because you get your mortgage rate locked in so it can’t go any higher, but if the average mortgage rate goes lower you receive the lower rate. For more details visit us at loan leads.

Unknown said...

Top website designing company in India, Surat provding world class design and solutions.Surat SEO, SEO Company Surat, Website Design Services Surat, Surat Website Development Services

Installment Payday Loans said...

The process to get this loan is really very fast through internet and the cash is deposited in the account of the borrower within the next 24 hours after applying for the loan. for more information about Installment Payday Loans

visit
http://www.installmentpaydayloans.org

Real Estate Flyer Templates said...

Its really great.I haven't heard such before.Now, many people can easily buy house.ButI think it will depend on one's credit history.

RealtyJuggler includes 49 stunning realtor flyers templates designs for your real estate flyer needs.

Lots in Samara Costa Rica said...

These articles are fantastic; the information you show us is interesting for everybody and is really good written. It’s just great!! Do you want to know something more? Read it...: Great investment opportunity in Costa Rica.

Fabi said...

I think its a great idea that banks are offering home loans to low income households.

It makes their dream of buying Sectional Title Property in South Africa a reality.

The problem is that many South Africans have been living on credit cards and have been bad payers in the past.
I believe that the NCA will educate the consumer and the institutions to lend more responsibly and ensure that each South African citizen will be able to realise their dream on owning their own property.

Unknown said...

Hello,

Great post,
Thanks for sharing.
___________________
Repair Credit Score | Bad Credit Repair Advice

self credit repair said...

This is pretty good news. I haven't heard such before. Now, many people can easily buy house. I wonder what are one's credit score should be to be eligible.

Anonymous said...

What a great post, I actually found it very thought provoking, thanks
Property management in Orlando

john said...

If anyone of these house owners is looking for a house sitter, my wife and me will be more than willing to help. We just married and we are trying to save enough money to buy a place of our own in the Jerusalem surroundings. To hypnosis.

Anonymous said...

great read i really enjoy reading about cape coral real estate will save blog and share.

Anonymous said...

Nice post. I have been searching for articles about valves and actuators and your post really helps. Thanks a lot for posting this.
Buy Silly Bandz

Sildenafil Citrate said...

Absa 110% home loans?? wow that's a pretty good deal! I wish I cold have the possibility of a deal like that in my town

Property in Turkey said...

Nice, well written and informative post.Thanks for sharing!

Property in Turkey

Anonymous said...

Noida PropertyWe specialize in Noida and Greater Noida in all sorts of real

estate property. Our impeccable services and honest policy makes us the best to deal in real estate in & around Noida

Web Hosting said...

Ramprastha Skyz gurgaonis in ramprastha city in gurgaon is best place in ncr on Dwarka Express Way is Latest residential Project.

Web Hosting said...

Gurgaon Property asAbw verona hills


Abw Verona Hills on NH 8 sector-76 gurgaon is 2bhk/3bhk apartment having all morden facility. Homeseek Realtors for best deal Abw Verona Hills .

Sonam Sen said...

Surat Web Design company
Suhanasoft is a Surat based website design and web development company providing professional services for affordable prices. The Surat based web design company provides services like web design, web development , search engine optimization and logo design.
Title : Kolkata Web Design company
Acesoftech is a medium sized web design company of kolakata which proves solutions of website design , we development and search engine optimization for affordable prices. The Kolkata based company understands your requirements sand provides you the services for your hard earned money.
Title : High quality wordpress theme design and integration
Suhanasoftech is professional website Design Company which has been involved in web design, web development and search engine optimization for affordable rates. The company has been providing quality services since 2005. Our expertise includes Wordpress, joomla , mgento , php and other LAMP technologies.

Anonymous said...

Professional Joomla Training Kolkata Surat
Acesoftech provides Professional Joomla Training in Kolkata and Surat. The academy teaches you custom joomla theme customization and build. Joomla component development and Joomla module development. We provide advance level of joomla training. Learn joomla in Surat and Kolkata from 6+ years experienced IT-Professional.

Australian Non Resident Mortgage information said...

There are some things you can do, to be able to get the best options. With so many different lenders out there, you can really save.

sabrina said...

Your post and experienced serve and teach me how to handle and make it more simple and manageable.

for ex-patriot Australia home loan click here