Interest Charged: competitive fixed or variable interest linked to prime
Monthly Service Fee: R57.00
Initiation Fee: R5,700.00
Minimum Age: -
Maximum Age: -
Max Repayment Term: 25 Years
Insurance Options: Home-Owner's Insurance cover on freehold homes at full replacement value.
Product Overview
Whether you’ve found the perfect little fixer-upper or want to start growing your family in a couple of years, there are many reasons to consider registering a bond for higher than the purchase amount. Once your property value and your affordability increase, you can access the additional amount, subject to credit approval.
Features and Benefits
The convenience of only registering a bond once, saving time and allowing greater flexibility.
Cost-effectiveness, as there are no costs for a second bond.Affordability – your monthly payments are based on what has been paid out, not the registered amount.
Flexibility – use the funds for whatever you need from home improvements to school fees to holidays.
Repayment term of up to 25 years.
Fixed or variable interest rate options.
Further loan without registration of a new home loan (readvance) – get access to the capital amount already paid off, up to the original loan amount.
Further loan with registration – register a second loan that grants finance for a variety of uses (depending on affordability up to the latest valuation amount).
NedRevolve gives you access to excess funds which accumulate should you pay more than the prescribed instalment or a lump sum into your home loan account.
Funds are available in multiple draws of R1,000.
Nedbank Accelerated Payments enable you to pay off your home loan sooner than the term stipulated in your home loan agreement.
Home-Owner's Insurance cover on freehold homes at full replacement value.
Loan Protection Assurance for loans up to R600,000.
Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.
Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.
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