Thursday, 11 April 2013

Standard bank and 100% Homeloans

It has been quite some time since the banks have offered 100% loans unless you were a client
of theirs and the good news is there seems to be a swing in the opposite direction.

Is this because the mood and sentiment is at a low ebb and clients are moving away from there traditional banks for other savings havens?

Never sure, but the decision by Standard bank to offer 100% home loans to non- standard bank clients in April 2013 is a definite positive swing.

so what do banks offer in general:

Firstly, this changes often so call your broker or call your mortgage originator first,

But as it stands: Remember other conditions always apply.

Standard Bank 100% home loans to all
FNB - will consider 100% home loan to all but favour their own clients
ABSA - will consider 100% home loans to all, but favour there own clients
Nedbank - Only for Nedbank clients
Investec - for Investec clients or meeting strict criteria
SA Home Loans - will consider but more like a 90% loan

Other kinds of offers in general are - These can change

-       Investment property usually max. 75%
-       Self employed clients usually max. 85%
-       Foreign applicants with no green ID books max. 50%
-       Foreign applicant married to South African max. 50 -75% (South African must be higher income earner)
-        Vacant Land 60%

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