Client Value Proposition
- Applicants will be able to access up to105% of the property purchase price.
- Properties that qualify include–new developments, sectional title, & free-hold.
- If at least one applicant chooses to move their primary transactional account to Nedbank and meet our Main Banked Criteria they will receive a interest rate concession of 0.50% where the LTV is larger than 100% and the existing 0.25 for 100% LTV and less.
- Applicants can apply for a maximum loan term of 30years (Appeals process only).
- We have resized our risk appetite to be more market friendly – We are open for business!
Qualifying Criteria
- At least one client in the application must be a First Time Home Buyer (FTHB). FTHB is defined as where there is no active deeds status i.e., an existing or previous home loan.
- The loan range is between R700 000 andR1.8mil, for Private Banking clients the loan cap is 2.5mil.
- Affordable Housing Clients (Household Income<R26 100) will only qualify for a maximum of 103% of the property purchase price. *This is under review to increase to 105% LTV and is expected to be completed in H2 2022.
- Salaried Self-employed individuals can apply.
Exclusions
- Vacant Land, Further Loans, Re-advance, Home Vision, Unbonded Properties and Switches
- Temporarily and Non-Residents, Endorsements, Legal Entities, and other types of Self-employed individuals
