nedbank home loans

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Nedbank home loans detoxed

Posted by Chris du Toit | Filed Under: Content - Published on August 5, 2011

Nedbank home loans detoxed
http://moneyweb.co.za/mw/view/mw/en/page292516?oid=548900&sn=2009+Detail

JOHANNESBURG – Nedbank (JSE:NED) is making progress in narrowing its losses in its home loans business, thanks to a better macro-economic environment and the better quality of loans the bank is now writing.
Nedbank Chief Operations Officer Graham Dempster (pictured) said previously the risk for reward in home loans was not balanced and now the bank had made an adjustment.
“We are now writing better quality home loans and not at a loss,” said Dempster.
CEO Mike Brown also mentioned that Nedbank on average might lose some market share in the home loans market as it was selective on the loans it wrote.

(via Instapaper)

This just proves exactly how important it is to maintain your credit record. Nedbank is not the only bank with stricter credit criteria these days. All four major banks in South Africa has implementent stricter criteria and the banks are not trying to achieve the highest share of the market like before. This is also part of the reason that banks seldom offer interest rates below prime except for extremely good customers.

Nedbank to give 100% home loans

Posted by Chris du Toit | Filed Under: Nedbank Home Loans, News - Published on October 14, 2009

Following in its competitors footsteps Nedbank has decided to relax its deposit requirements for home loans and in certain circumstances grant 100% home loans. Nedbank’s decision comes as no surprise as Absa announced last month that they will consider approving 110% mortgage bonds to clients who earn less than R11,000 per month. Absa was the first Bank to provide relief to people in the low-income bracket.

Following a tough 18 months for people selling their properties and estate agents this positive news is a welcome sign of improving economic conditions. The past year and a half witnessed thousands of property industry jobs being shed due to the dramatic drop in sales volume in the property market.

Nedbank Home Loans Announces A Restructuring

Posted by Chris du Toit | Filed Under: News - Published on June 30, 2009

18 May 2005

The extensive restructuring and the re-establishment of a dedicated Nedbank Home Loan business unit has resulted in a marked decline in the bank’s loss of home loan market share compared to that of five months ago.

Nedbank Home Loans Now Offer Initial Payment Holidays

Posted by Chris du Toit | Filed Under: Nedbank Home Loans - Published on June 30, 2009

Nedbank Home Loans is proud to announce that we now offer Initial Payment Holidays on all new loans – previously this option was restricted to the first time homebuyer only. The Initial Payment Holiday is now available on all 100% loans, except for the Buy to Let product.

The restriction for this option has been lifted on the AlphaBond and all qualifying clients including first time homebuyers are now eligible due to the increased demand in the market. Clients will receive a 104% Loan to Value bond that will cater for an initial payment holiday (deferred payment) of up to 3 months and payment is only required in month four.

Posted by Chris du Toit | Filed Under: Nedbank Home Loans - Published on June 30, 2009

Buying a House is a Dream Come True

Buying a house is an expensive investment. Probably the most costly investment you will ever make in your life. Finding the right house can be an overwhelming undertaking. That is why Nedbank tries to make is as easy and painless as possible – because when your finances are taken care of, the procedure can actually be fun. Choose a home loan from four different options that are specially designed to fit your distinctive desires.

Special features

All Nedbank’s home loans have special features. NedRevolve allows you to have some control over your loan, permitting you to manage your money more effectively. This also enables you to accumulate savings – free of any taxes!