Friday, 16 October 2009

ABSA - No more 100% bonds! EVER!

An update straight from the horses mouth!

“We explored whether ABSA home loans are in the near future going to introduce a 100% LTV offering to the market and improve the current 70% LTV offering to non-ABSA customers. From the feed-back received from the ABSA home loans Head Office team yesterday, it seems unlikely that in the short-term ABSA are going to move on their LTV’s in the aforementioned categories.

ABSA home loans also confirmed that their direct LTV offering definitely did not include 100% loans. ABSA only offer 100% loans to qualifying applicants for their My Home product (up to 110% risk) and to qualified purchasers of their pre-PIP’s (properties in possession) and PIP’s. These 100% loans are available through all channels, including origination.

WizardMan Out!

12 comments:

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How can one apply for the loan?

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hi I was looking forward to seeing the 100% LTV offering since the current 70% LTV offering was not as good as I thought, thanks for the information!

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