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Usefull Bank Information

 

“Best services” is always your first option.

 Please keep this mail handy at all times to ensure that when you put the deal together, make sure it meet your clients own bank criteria as we have found this is the “Best Prize” and the “Only Prize” right now.

 

ABSA reduce their Loan lending criteria from 108% right down to the following: –

 

Ø       R0 – R2.7 Million                                   =              85% loan to valuation 

Ø        R.7 Million                                              =              75% loan to valuation

Ø       Vacant Land Less R1.5 Million          =              75% loan to valuation

Ø       Vacant Land Greater R1.5 Mill            =              60% loan to valuation

Ø       All Non ABSA Clients                            =              70% loan to valuation

Ø       No Costs offered at all

 

Standard Bank reduced their Loan lending criteria from 108% right down to the following: –

               

Standard Bank Current account holders ONLY:

Ø       R0 – R300 000.00                                                =              95% loan to valuation 

Ø       R301 000.00 to R2.5 Million               =              90% loan to valuation

Ø       R2.5 Million and more                          =              80% loan to valuation

Ø       Vacant Land                                           =              75% loan to valuation

 

Non Standard bank Clients

Ø       R0 – R300 000.00                                                =              95% loan to valuation 

Ø       R301 000.00 to R2.5 Million               =              85% loan to valuation

Ø       R2.5 Million and more                          =              80% loan to valuation

Ø       Vacant Land                                           =              75% loan to valuation

 

 

FNB reduced their Loan lending criteria from 108% right down to the following: –

               

Ø       R0 – R1 Million                                      =              90% loan to valuation 

Ø       R1 Million and more                             =              80% loan to valuation

Ø       Vacant Land                                           =              60% loan to valuation

Ø       Investment Property or second          =              70% loan to valuation

Ø       RTI is not to exceed 30%

 

FNB SMART BOND – affordable housing clients:

 

Ø       Individuals may only earn a income of R11210.00 per month and jointly not more than R22420.00 together,

Ø       You can obtain a 105% Bond with Step up option (Ask you Consultant)

Ø       Minimum Bond allowed R20 000.00

Ø       Step up facility  – is the interest rate is fixed for the first 5 Years 

 

Nedbank reduces their Loan lending criteria from 108% right down to the following: –

                               

Ø       R0 – R3.0 Million                                   =              90% loan to valuation 

Ø       R3.0 Million and more                          =              85% loan to valuation

Ø       Building loans                                                       the same as above

Ø       Further Loans                                        =              80% irrespective of loan size

Ø       Vacant land                                            =              70% loan to valuation

Ø       NO costs offered

 

Sanlam reduces their Loan lending criteria from 108% right down to the following: –

 

Ø       R0 – R2.7 Million                                   =              85% loan to valuation 

Ø       R2.7 Million and more                          =              75% loan to valuation

Ø       Max RTI of 30%

Ø       Only 20 year loan term for all their loans

 

Home Front Finance

 

Ø       SA Citizens

Ø       Age > 21 to <65 years

Ø       Salary > R1 500.00 to < R15 000.00 per month combined

Ø       Not limited to first time home buyers only

Ø       Bonds for unbounded properties are considered

Ø       Bonding on vacant land not finalized as yet – under consideration

Ø       NHFC includes building loans, new developments and user loans

Ø       Specific attorney panel only.

 

Trusting that this will add value to your business and that our relationship will grow from strength to strength.