Friday, 2 October 2009

"Nedback" on track

Nedbank home loansLadies and gentleman!

What better way to start a magnificent Friday then to give you the news that Nedbank is offering 100% home loans again!

This is a briliant and positive step in the right direction, meaning other banks will follow suit shortly.

From my previous post we know that Standard Bank home loans are offering 100% loan although not via the bond originatio channel. Nedbank home loans on the other hand have come to the party and realised that more than 70% of their home loans business is from bond channels so why cut them off!

Read the memo from Nedbank below:
Please note that Building Loans will be treated like First Loans, and where a “Building Loan” Further Loan is involved it will be treated as a Further Loan.

Kindly note that 100% LTV offerings are dependent on successful confirmation of a favourable client risk profile. Should a client profile not meet the Bank’s minimum risk criteria, the Bank will reserve the right to decline or issue a lower than 100% LTV.

All changes applicable will relate to residential home loans submitted to Nedbank as of the 29th of September 2009.

Home Loan applications that are currently in the Bank’s system will be processed as per previously communicated LTV rules.

I would kindly request your assistance in distributing the communication to the respective sales channels including aggregation businesses and associated agents. Please direct all operational queries to your local Nedbank sales representative for immediate assistance.

WizardMan Out!

11 comments:

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M3reogroup said...
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commercial real estate said...

thats a good news...we'll see if other banks will follow..

Home Loans said...

Its good to hear that home loans is offering the loans again. Its true its the positive step from the bank. My all best wishes are with the bank.

john said...

FHA housing loans is a government initiative.. this is important..

doshimaitri said...

It's really very great that the bank is offering the home loan's again.The bank also takes into notice the person past records about the payment of the bank debts.Thus, while applying the loan procedure it is advisable to take the advice of the conveyancing solicitor. He is the person in help for those that don't know what conveyancing is it's the legal process that happens when an ownership of a specific property is transferred from the person selling it to the person buying it.Again For most people buying a house is the biggest financial investment they will ever make which means it should be done properly.

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cristine said...

It's really good that the bank is offering the home loan's again.

Sell House Fast said...

I don't think the UK has any 100% LTV mortgages at the moment. The SA market must be in better shape than the UK. What are interest and unemployment rates like in SA?

Tucson Foreclosures said...

I just want to say thank you for the information. It’s really an interesting article.

Las Vegas Foreclosures said...

Wow! It's good to hear that news. Thanks for posting.