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.
Please note that this option cannot be exercised in conjunction with a 108% Loan to Value option. Clients requesting this feature may apply for an AlphaBond Option 2 (Initial Payment Holiday) and all other product rules relating to the Alphabond remain unchanged.
| Loan Amount | R100,000 up to a maximum of R2,000,000 |
| Minimum Income | Subject to affordability. |
| Term | Up to 360 months. |
| Interest Rate | The client has a choice between a competitive variable interest rate or fixed rate for a period of 12, 24 or 60 months. |
| Other | Acceptable credit record and stable income. |
Related posts:
