Tuesday, 4 May 2010

100% bonds for Absa clients

Absa 100% bonds!
Ladies and gentlemen...
Absa home loans are back and they're bad! 100% Bonds!

Absa have officially announced the reintroduction of their 100% home loan offering.

There is a slight catch here. It's only applicable to ABSA cheque and transaction account holders. This means that non ABSA clients will still only have access to 70% LTV loans from ABSA, but it's a move in the right direction.

This move is obviously as a direct result of Standard Banks 100% home loan offering. With Standard Banks home loan offering of 100% for people who went directly to the banks really has given the home loan and bond origination industry a little knock, BUT ABSA have announced that this channel of 100% home loans is open to bond originators as well.

Well, does this mean we'll be seeing ABSA follow Standard Banks suit? OR will Standard Bank bow down to the might of the bond originators in South Africa?

Either which way, well done ABSA and well done to all the bond originators out there who have made this possible...

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Anonymous said...

I tried with ABSA and I am a client. They don't give 100%, they offered me 85% and the value of the property is 385k, They suck!

"The MAGE" said...

You know they do now offer 100% loans but there are always conditions. Why not try another bank such as Std?