Home Loans SA | South African Home LoansStandard Bank Home Loans | Home Loans SA | South African Home Loans https://homeloans-sa.co.za Find the best Home Loan deal in South Africa Thu, 10 Nov 2011 11:38:37 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Why Should I Consider Standard Bank Home Loans Over Another Lending Institution? https://homeloans-sa.co.za/banks/standard-bank/why-should-i-consider-standard-bank-home-loans-over-another-lending-institution.htm https://homeloans-sa.co.za/banks/standard-bank/why-should-i-consider-standard-bank-home-loans-over-another-lending-institution.htm#comments Mon, 04 Oct 2010 13:16:14 +0000 Chris du Toit https://homeloans-sa.co.za/?p=509 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.

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Standard Bank Home Loans https://homeloans-sa.co.za/banks/standard-bank/standard-bank-home-loans.htm https://homeloans-sa.co.za/banks/standard-bank/standard-bank-home-loans.htm#comments Fri, 05 Feb 2010 07:43:04 +0000 Chris du Toit https://homeloans-sa.co.za/?p=317 The home buying process and especially your home loan, is a long-term commitment and not something you do every day. You need to be correctly informed before making any decisions. It is always a good thing if you can put some money towards a deposit for your new home, but Standard Bank have some options available for those of you who don’t have the deposit available. The deposit is usually 20% of the cost of your home.Standard Bank has developed various different home loan options to suit your financial needs and desires. With Standard Bank you will find the process of a home loan to be simplified, making it easier to understand and more accessible. Documents you will need to help you start the home loan process:

  • You latest pay slip as proof of your income
  • Your SA identity book as proof of your identity
  • Your marriage certificate or divorce decree

What Home Loan amount will you qualify for?

You are generally allowed to use about 30% of your income for home loan installments. These installments exclude your home insurance amount. Deduct all your monthly expenses from your monthly earnings. Your monthly earnings should include any housing subsidies. The amount that you are left with, is the amount you can afford to put towards a home loan repayment.

Applying for a Home Loan with Standard Bank

After the offer of purchase has been signed, your home loan application can be finalized by following these 5 basic steps:

  • Financial Assessment Your financial state and credit record is assessed to make sure that you have a good credit record and can afford your home loan repayments.
  • Property Assessment A property assessor inspects the house you want to buy. His job is to make sure that the price you are paying does not exceed the real value of the property.
  • Letter of Grant This is a confirmation letter from Standard Bank that we will give you the loan and it states the amount we are willing to offer for you.
  • Legal Documents The legal documents instruct the attorneys we appoint to register the home loan and transfer the property into your name.
  • Your Home Loan The seller of the property gets paid for his property and your home loan account is created with Standard Bank. Some of the Basic Options Available from Standard Bank Home Loans

1. DreamStart – Standard Bank Lower Income Home Loans

DreamStart is aimed at entry-level income earners by making home finance more accessible to them. The entry-level earners are those who earn between R1500 and R6000 a month, joined or single income. Your home loan will also includes a life assurance policy that will ensure that the outstanding amount of your home loan account is settled, should you die. You can also apply for the AccessBond facility with your DreamStart Home Loan option. The criteria that applies to the DreamStart option include:

  • A single or joint income that of between R1500 and R6000.00 a month
  • You are building a new home or
  • You want to move to a bigger or better home
  • A debit order or salary deduction is compulsory

2. JumpStart – Standard Bank Cost Inclusive Loans

JumpStart helps the buyers who can not afford the deposits and other up front costs like transfer fees, bond registration costs etc. A maximum loan of 108% is allowed to help you with these payments, especially when you are a first time homebuyer. The loan amount is calculated on 108% of the total value of the property. The criteria that applies to the JumpStart option include:

  • A single or joint income that exceeds R6000.00 a month
  • You must be permanently employed
  • You must be 18 years or older
  • A debit order or salary deduction is compulsory

The JumpStart home loan option is not available for the following loan types:

  • Commercial loans
  • Business loans
  • Vacant land
  • People with a joint or single income of less than R6000.00 a month
  • Home loans in the name of a trust, company, close corporation or home loan switches from other banks.

3. Ordinary Home Loans – Standard Bank Home Loans

Standard Bank’s ordinary home loan gives the homebuyer a loan to the value of the property (100% LTV). The homebuyer must make provision for the upfront costs like the transfer costs and bond registration. The criteria that applies to the Ordinary Home Loan option include:

  • Homebuyers who do not want to include bond costs in their loan
  • A single or joint income that exceeds R6000.00 a month
  • You must be permanently employed
  • You must be 18 years or older

4. Standard Bank SecuraRate

SecuraRate is a whole range of different interest rate options that you can choose from according to your specific needs. You can choose between a fixed rate and a capped rate option. The fixed rate freezes your interest rate for a certain extent of time, being 12, 14 or 18 months. The capped rate caps your interest rate at a maximum rate for a certain extent of time. With Standard Bank an interest rate is guaranteed over an agreed period of time that you selected. Economic factors like inflation or currency depreciation would not influence your home loan interest rate over the period you selected.

5. Standard Bank Variable Rate

The Standard Bank Variable Rate option is a conventional home loan. The base rate of Standard Bank’s home loan has been 14.50% since December 2007. The rise and fall of interest rates influence your home loan interest rate.

6. Standard Bank Pre-Approval

When you are starting to search for your dream home, you should go to Standard Bank to get a home loan pledge. This is a guarantee for the maximum amount that Standard Bank would offer to lend you for a home loan. This pledge is a free service from Standard bank and is valid for six months from the date of issue.

7. AccessBond Facilities

With Standard Bank Home Loans you can apply for an AccessBond link facility that will allow you to withdraw additional funds that you have deposited into your home loan account. The money can only be withdrawn after the loan to value is less than 100%.

8. Three Month Payment Holiday

This option of Standard Bank allows you to only start paying your home loan installments three months after registration, giving you a gap to use your money to get your home the way you want it. With this option the maximum installment to income is 27%. Standard Bank has a number of product options available – you must choose the option that suits your needs and lifestyle the best.

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Standard Bank: Home Loan Options for Each and Every One https://homeloans-sa.co.za/banks/standard-bank/standard-bank-home-loan-options-for-each-and-every-one.htm https://homeloans-sa.co.za/banks/standard-bank/standard-bank-home-loan-options-for-each-and-every-one.htm#comments Tue, 30 Jun 2009 08:35:45 +0000 Chris du Toit https://homeloans-sa.co.za/?p=106 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.

Online Home Loan Application

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Standard Bank ranked No.1 in sub-Saharan Africa https://homeloans-sa.co.za/content/news/standard-bank-ranked-no1-in-sub-saharan-africa.htm https://homeloans-sa.co.za/content/news/standard-bank-ranked-no1-in-sub-saharan-africa.htm#comments Mon, 11 Jul 2005 09:41:55 +0000 Chris du Toit https://homeloans-sa.co.za/?p=160 July 11, 2005 Standard Bank has been ranked No. 1 in sub-Saharan Africa in The Banker Top 1 000 World Banks 2005, an annual ranking of the world's commercial banks. Standard Bank is now ranked No. 108 in the world, up from 116 in 2004. The rankings are based on Tier One capital as defined by Basel's Bank for International Settlements. The definition is more strict than total stockholders' equity and covers only the core of the bank's strength; the shareholders' equity available to cover actual or potential losses. The object of the survey is to show the banks' soundness in relation to the Basel requirement of minimum Tier 1 capital on risk-weighted assets of 4% and a minimum ratio of capital to risk-weighted assets of 8%. The Banker (www.thebanker.com) is the global monthly banking magazine of the Financial Times Group and was first published in 1926.

Related websites:

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Standard Bank Helps SA Home Loans Take Securitisation Into New Territories https://homeloans-sa.co.za/content/news/standard-bank-helps-sa-home-loans-take-securitisation-into-new-territories.htm https://homeloans-sa.co.za/content/news/standard-bank-helps-sa-home-loans-take-securitisation-into-new-territories.htm#comments Tue, 14 Jun 2005 09:45:13 +0000 Chris du Toit https://homeloans-sa.co.za/?p=164 June 14, 2005 South African Home Loans* (SAHL) will soon be launching another exciting innovation for the South Africa securitisation market: the first listed residential mortgage warehousing conduit, the Thekwini Conduit, arranged by Standard Bank. SAHL was the first South African mortgage originator to tap the public residential mortgage backed securitisation market when it launched Thekwini 1 in November 2001. Subsequently, SAHL has completed four further successful issues, constantly setting new market benchmarks in terms of both pricing and volumes. The Thekwini Conduit, which has been sized at R15 billion and has been rated by Fitch Ratings, will provide SAHL with access to short-term money market funds, enabling it to diversify its warehousing funding and benefit from more competitive funding rates. SAHL will, however, continue with its long-term Thekwini programmes in parallel to the Thekwini Conduit, expecting to launch Thekwini 6 in the last quarter of this year. "With the establishment of the Thekwini Conduit, SAHL will secure yet another source of sustainable funding to support the continuing growth we are experiencing in our home loan book. Furthermore, it provides us with an opportunity to respond to investor demand that we've identified in the short-term market. We have strong relationships with our investors and pride ourselves as being at the front-runner in bringing ground-breaking products to the market," says Kevin Penwarden, SAHL's Chief Executive Officer. The Thekwini Conduit provides money market funds with an exciting new investment, backed by a diversified asset pool. AJ Rothman, Director of Securitisation at Standard Bank, the arrangers of the Thekwini Conduit said: "This transaction brings a number of new technologies to the South African securitisation market and demonstrates again just how sophisticated this sector of the South African capital market has become. We are unaware of this technology being utilised in any other country other than the United States." Some of the new features that the Thekwini Conduit introduces to the market are: a high degree of flexibility as the Thekwini Conduit is able to issue both long and short-term notes giving investors the opportunity to invest in notes rated F1+(zaf), F1(zaf), F2(zaf), A(zaf) or BBB(zaf). Further, the notes may be listed and/or unlisted depending on investor requirements. Innovatively, the Thekwini Conduit will also be the first to issue liquidity notes. This enables SAHL to further reduce its reliance on bank facilities. SAHL intends issuing the first tranche of notes from the programme at the end of June 2005 through Standard Bank's money market desk. * Standard Bank is a shareholder in SA Home Loans.

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