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%

Sales and Marketing in Tough times!

“Fish where the fish are.” - so follow the money even when looking for a loan.

For most of us in the sales and marketing side, prospecting is the most challenging activity we do. 

We hate the thought of picking up the phone to make a living. No matter what product or service we sell, success in sales is built through effective planning and prospecting.

Here are five ideas that will help:

1. Establish a routine. You must schedule time for prospecting every day at preferably the same time. Do not allow anything to interfere with your prospecting time. The salesperson who has a set daily routine of making prospecting calls at a specific time and adheres to this schedule without distraction has a massive advantage over others

.

2. When is the best time to prospect? The best time to make prospecting calls is when you have the most energy. I always prospect early in the morning because that’s when I have the most energy. It also gets me off to a winning start, which sets up my day for success.

3. It gets easier after the first call. The first call is always the most difficult. Getting yourself to make the first call of the day is normally the biggest hurdle. After you make the first call, you realize it was not as difficult as you had imagined. Prospecting is fun after a few positive calls. You will often find receptive people on the other end of the line who are open  to your call. Just do it, break through the barrier, your confidence will soar when you realise that prospecting is the trigger to all successful selling.

4. Set prospecting goals. Set a specific goal of what you want to happen on each call. Know what you want that prospect to do. It is difficult to achieve prospecting success without clearly defined objectives.

5. Prospecting is a numbers game. I guarantee you that the more prospecting you do, the more deals you will secure. Prospecting allows you to plan your income and results. If you track your prospecting efforts, you will find that you have clear ratios in your sales efforts. Once you know how many prospecting calls you need to make in order to get a client presentation and therefore a closing opportunity, then you have a good measure of how to achieve any sales target.  

Prospecting is truly the starting point of success in any sales profession. I teach a simple sales model – the more you effectively prospect, the more presentation opportunities you will get, and therefore the more sales you will close.

Home loans with bad debt

Buying a home should be something exciting and something that you look forward to, because of the future memories you are going to create in it. Many people however do not feel this way because of financial problems they might face such as declined loans, bad debts, bankruptcy and so on.

Banks always look deeper into your finances before giving you a loan, reason being they want to make sure that their investment in you and your future is safe. If you are perhaps blacklisted and have bad debt the less likely it is that they will approve your loan, however it isn’t impossible to secure a home loan. Make sure you working on clearing your name from negative reports.

Here’s what you could do, contact a debt councilor they might just actually be able to clear your name. There are a lot of financial institutes that focus on organizing home loans and finance for black listed clients. In my opinion these companies are much more helpful then bank, however there is a catch, the interest rates are offered by these companies are very high you might have to take out extra insurance to cover the bond.

Bad debts remain on your credit report for a long while, we talking 7 years! Which sounds horrible, however I would highly recommend that you get yourself a copy of your credit report. Look at all negative entries that have been there for the past 7 years or more. Contact the bureaus and report this to them.

Write a short but brief letter to the credit report agency and verify any incorrect information about your credit payments. If they approve, entries can be removed, however this might take up to 30-45 days. Be patient though, because those few days are way better than having to wait for 7 or so years

Revival of Exciting Boksburg Affordable Housing Project

So finally Windmill Park Estate has been revived.

This awesome development backed by FNB is seeing a new lease on life and we wish them great success.

Already the first phase homes are developed and this Secure Estate has revised pricing with cheaper prices and 100% homeloans available

Well done Boutique Homes and FNB

Also remember you can get finance from ABSA, Standard Bank and Nedbank so if you live in Boksburg or want to move there this is certainly for you on the corner of Barry Marais and Rondebult roads.

East Rand rocks!

Property Marketshare per bank - changing times

So Std Bank up to 36% - up to 100% loans

FNB maintains 23% approx - up to 100% loans


ABSA drops to 19% - up to 70% loans

Nedbank drops to 12,5% - up to 90% loans

SA Homeloans Climbs to 10% - up to 100% loans

Well what a change from a year ago - you can get a homeloan through a good mortgage originator.

Time to move as rates are bound to come down.