If you currently live in South Africa, then you are very familiar with Standard Bank, and the Standard Bank Home Loans for it is one of the largest lending Banks located in South Africa., and their highly touted loans can be found in most neighborhoods already.
There are always various lending institutions that will give you a bank home loan, but only Standard Bank can give you Standard Bank Home loans. Their loans are special, as they will present you with a wider selection of loans than most banks can do.
For instance, you may be able to receive a home loan that covers 104% of the assessed value of the property. The reason that it goes beyond 100% is that you will be able to include the costs of getting the loan within the loan itself. This is highly important especially to new homeowners who have never owned a home before. The reason being that their inexperience in being home owners could mean that they may not have budgeted for home repair, additional insurance on the home, or even what the cost will be for furnishing that home.
If you are considering getting an adjustable rate or variable rate loan, then you will need to rely on the bank to tell you exactly when the rate will be changed, what causes it to change, and whether there are any guarantees or caps that may occur due to the variable rate changing drastically. This is one of the reasons why you wish to deal with an honest lender such as Standard Bank. They will answer all of your questions very thoroughly until you completely understand. Let’s face it property finance is a highly complex world, and with Standard Bank, they will be there for you to explain what is important to you. The very course of action of home ownership will become so much easier to comprehend if you receive their professional advice as well as guidance.
Do not be afraid to ask, for example, what the bond costs will entail. Different banks may quote you different figures for bond costs. It behooves you to ask why there is a difference from one bank to the next, and how this affects the loan in question.
Some people like to visit a number of different lenders to try to get the best deal. Of course you are totally free to do so, but we are quite certain that you’ll return to Standard Bank for your best loan.
Another reason why Standard Bank home loans are considered the best is that they will arrange for you to have a debit order so that you never miss a payment. In other words, your salary may come into Standard Bank, and the payment will be automatically taken from it. It is compulsory in their JumpStart loans for new homebuyers. Of course everyone marvels at the beauty of the JumpStart loans because you will not be required to save up for a deposit, causing a highly irritable strain on your lifestyle.