Put up your feet. Lay back. Relax. Be together. Live yourself. Sleep. Eat. Party. Home is where the heart and no matter what you want your house to be, at different stages of life you have different needs and expectations of life. And the place you call home. No two people are the same. In the time we live in, it is sometimes scary to think you have to own your own place. That is why Standard Bank thought it good to develop different home loan options – for people with unique desires and financial assets.
Standard Bank not only provide a number of home loan choices, it simplified the process making it easier for you to understand your needs and find exactly what you are looking for. With nine options to choose from and several guidelines, finding the perfect place never was easier.
You know the feeling when you walk into a clothing store and you can imagine yourself and that fabulous pair of jeans? You don’t even have to try it on, you just know it will fit like a glove? It is the same with shopping around for a house. The moment you put your foot through the door you can already smell the chocolate brownies you and the children will bake in the kitchen. Or you can picture working on your son’s bicycle in the garage. Magic. But all that is a waste if you can’t sign the deal there and then. Imagine losing your dream house for taking time to get your home loan approved? Standard Bank thought about that too and decided that such disappointment is not worth it. With the Pledge option, you can get a home loan approved even before you start the quest of house hunting. Pledge confirms your ability to buy property and is valid for six months since date of issue. This conditionary option is available to anyone that wants to buy a new house and is sure his or her home loan will be approved.
There is nothing scarier – or more exciting – than buying your first house. However, chances are that you are still short on cash and upfront costs and deposits may be a problem for you. Again, Standard Bank home loans has an option available for you. Any first-time buyer that earns more than R6000 per month can apply for this option, which has five different sub-options to fit your exact needs. The option offers a loan to the value of 108% of the assessed value of your property.
DreamStart offers low income-earners access to a home loan. If you want to obtain your first or second house and earn between R1500 and R6000, this option will suit your needs. Your circumstances play a vital role in the loan. Set up an appointment with a consultant at your nearest branch to find out how you can be rewarded with better interest rates and or insurance coverage.
Interest rates are always a headache, but can become even more so if you have a home loan. Higher interest rates means less money to spend on your home. If you are afraid of this, the SecuraRate-option can protect you against this. You can choose between the fixed rate and the capped rate options. The first option freezes your interest rate for a certain extent of time (12, 14 or 18 months). The latter caps your interest rate at a maximum rate for a certain extent of time.
Every once in a while one needs a holiday to break with old habits and generate new ones. While paying off your house, some unforeseen circumstances can sometimes put you in a financial dilemma. Standard Bank developed a payment holiday that allows you to take a break for three months from repaying your loan. The instalments you had to pay over that period now has to be repaid over the remaining time of the repayment-term.
There are other ways of paying off your home loan simply than working overtime like a madman. Any low-income earner who will have difficulty getting a home loan must consider the Fully Guaranteed Lending option where you repay your loan via a retirement fund instead of a mortgage bond. Employers can also use this option to extent their benefits to employees.
When buying a residential property that you want to use as a business, the Business Mortgage option is for you. This offers you a loan of up to 80% of the property’s assessed value, with a period of repayment for up to twenty years.
It is a good idea to repay your home loan as soon as possible and sometimes you even have spare funds to pay towards it, but can’t help thinking that you may need that money again at a later stage. AccessBond gives you the freedom to pay money towards your home loan and withdraw it again in the future. Again there is two options available: With AccessBond limit you can withdraw money up unto the original amount you borrowed and with the AccessBond linking facility you have an unlimited number of deposits into your home loan account with immediate access to funds transferred electronically.
You can also have access to funds that have already been paid on your home loan with the Re-advance option – as long as you have funds available in your home loan account.
A further advance option is a second bond on your property, ideal when you have renovations or alterations on your house. This second bond is registered over your property.
i am enquiring about a second bond on my house for renovation purposes. would you be as kind as to let me know whats needed,and who to speak to.
thank you
regards
s.sandstrom
Hi Sharon
One of our consultants has sent you an email requesting your contact details and will assist with your application as soon as they can contact you.