Aspiring home owners in South Africa can rely on Nedbank to make their dreams a reality. The Nedbank Home Loan is a product that serves to give individuals seeking to purchase a home a flexible solution. The Nedbank Home Loan provides solutions in 3 offers:
Ordinary Home Loan:
This loan solution is ideal for buying an existing property. You are given up to 25 years to repay the loan. Fixed as well as variable interest rate options are available. Loan Protection Assurance is also provided for loans up to R500 000 and below. To qualify for this loan you need to earn at least R2500 per month and have a clear credit record.
This is ideal for when you are building your home or renovating your existing property. Builders must be NHBRC approved. Repayments can be made up to 25 years, giving you a comfortable amount of time to make the repayment. The loan is paid out as the building progresses. The loan is hassle free and quick while credit approval can be expected within hours, so you don’t have to wait too long. The process is paperless and regular feedback is provided to keep individuals updated on their applications status.
This facility is useful if you want excess funds available to use later. Home Vision allows you to register a bond for more than the required loan amount, providing an excess amount that can be accessed at a later stage. The excess amount will be available to you when your property value and/or affordability have increased. Repayment periods are permitted up to 25 years. To qualify for this loan you need to have a good credit record and must earn a minimum amount of R2500 per month.