Absa 110% home loans

The doors are now opening.

Absa home loans this morning announced that 110% home loans will be offered to lower income earners. This is a big bold move that seems to have been started by Std Bank home loans.

According to the Business Day:

MORTGAGES of 110% are now available to low income earners, ABSA said today as it adjusted its lending criteria.

“Absa has become the first bank to provide relief to low income earners by offering 110% bonds with a monthly income up of to R11,000,” the bank said in a statement.

“The turn in the economic cycle is becoming evident and as such we need to review our customer offerings.

IS THIS THE TURN OF EVENTS WE'RE WAITING FOR?

Standard Bank Home Loans - THEY'RE BACK!

Well, this post is way overdue but I've had alot of thinking and reading to do, so better late than never. You might have heard the latest news and updates in the home loan world, well, if you haven't here it is!!!!

THE MEN IN BLUE ARE BACK!

Standard Bank home loans have opened there doors to bond originators! Not only have they opened their doors but they've allowed non Standard Bank clients to apply to.

Current product list that's been opened to bond originators:

1. 100% home loans up to R400 000
2. 90% home loans for the rest

It's a nice warm welcome, and with talk of 100% home loans being opened up too, let's hope it's a MOVE in the right direction for all the banks and the future of the mortgage market in South Africa.

Need assistance with your Standard Bank home loan today? CALL us 012 341 2223!!!

18 reasons why homebuyers should use a mortgage originator

In this market, it is critical that you use the services of an originator who knows how to position your bond for optimal success. Wizard has a wealth of experience and industry knowledge to enable us to find the right home for you.

So with this been said :) here it comes...

1. Secure approvals: better chance of approval by submitting to multiple lenders (ABSA, Nedbank, FNB, Sanlam, Ithala Bank, Blue Financial Services and The National Housing Finance Corporation)
2. Get the system to work for you: take advantage of the fact that each bank has different
credit criteria, deposit requirements, documentation requirements, interest rates and
turn-around times
3. Expert positioning: prepare, motivate and package the application for the best chance of approval
4. Best interest rates: banks compete for every loan application ensuring you get the best deal
5. Simultaneous submission: direct interface to lenders systems allowing simultaneous submission of applications to multiple lenders
6. No cost: it’s a free service to the homebuyer
7. No obligation: no obligation to accept any loan sourced
8. 7 years Expertise: home finance experts have intimate knowledge of the various banks’ products, credit criteria, documentation requirements and interest rates
9. Problem escalation: dedicated senior personnel escalate any problem applications ensuring a better chance of approval
10. Hassle free: one generic application form for all lenders
11. Cost savings: advice on the best way to structure the loan to reduce the total cost
12. Convenient: originator completes the application form and does all the legwork
13. Faster approvals: dedicated personnel guide the application quickly through the bank’s approval process, actively chasing up progress
14. Independent advice: most appropriate home loan options from all lenders
15. Dedicated communication: one point of regular feedback on the application status
for all lenders
16. Best service: professional and personalised service either face-to-face,
telephonic or online
17. Commitment: home finance experts are committed to securing your loan
18. Homebuyers all agree: over 70% of all new home loans are secured using mortgage originators

New Website - Wizard Midrand Home Loans

Well... I figured since everyone here is an avid fan of the Wizard Home Loans and SA property sites :) that I'd give you the readers the first chance to comment, bitch, moan, groan and praise on the new look and feel of our website.

Currently i've got a BETA version of the site up and running and would really really love some critisicm and feedback from all of you.

Let me know what you think.
http://digitalbone.co.za/wizard-test/index.html

Thanks in advance, if anyone really cares ;-)

Labour Relations Act - Changing SA Business Forver

The new labour relations act is coming in 2010.

After reading this article on the Standard Bank Espresso Magazine newsletter, I was almost excited to see that South African business practice and business in general is set to change forever.

It's time to sift out the rubbish in South Africa, and let real businesses start moving forward. There will be no more getting away with selling bad products to the South African consumers. No more fraudulent insurance policies and bond originators charging exorbitant fee's. This is a major step forward.

For any small / medium or large business owner, you'll want to read this article.

It's official: The way that business is done in South Africa will fundamentally change from October 2010 when the Consumer Protection Act kicks in. For business owners, it is the most far-reaching law since the Labour Relations Act.

http://www.standardbank.co.za/site/business_banking/espresso/Clickthroughsissue8/MainNews_01_pg1.html