This uniquely structured facility assists first-time home buyers to fund the transfer and registration costs via their home loan.
Even though one home loan is granted, the account is set up in such a way that the cost portion is separate from the purchase price. By structuring costs over a shorter repayment period means you pay less interest, however, you can select any term as long as it doesn’t exceed the term of your primary loan.
Although these days more and more people are entering the property market, the financial decisions surrounding buying a house can make it a daunting task. For many people buying a house will be the single biggest investment they will make in their life and therefore it is important for first-time buyers to choose a home loan that will best suit their financial needs. By having more than 130 years of experience in home loans, it is thus simply logical that more and more South Africans are choosing Absa home loans to assist them in home ownership.