To simplify the process for both developers and bond originators, we’ve changed some of the rules that govern the Pre-Valuation of our housing developments for end-user finance:
- FNB Home Loans and FNB Housing Finance will consider providing end user finance (top-structure or building loans) for developments with unit prices <= R500 000
- We will bond a minimum number of 30 units. Developments with less than 30 units will be regarded as retail business and retail rules will apply.
- Income rule for developments where approval has been granted, will be as follows:
70% of customer deals may not exceed the income rule of R15 000 joint or individual.
30% of customer deals may exceed the income rule of R15 000 joint or individual.
Please note that FNB Housing Finance does NOT entertain investors or legal entities.