Product Guide: Standard Bank Buying Again Home Loan
Buying Again Home Loan
Comparison Overview:
Product Category: Buying Again Home Loan
Minimum Monthly Income: -
Interest Charged: competitive interest rate
Monthly Service Fee: up to R300 depending on account
Initiation Fee: R5,700.00
Minimum Age: -
Maximum Age: -
Max Repayment Term: 20 years
Insurance Options: credit life insurance/home owners insurance
Product Overview
Have you outgrown your existing home or have you worked really hard and want to reward yourself with a bigger and more luxurious home or investment property? Standard Bank has the product for you!
Features and Benefits
You can apply for a home loan as a private individual, with another person(s) or as a juristic entity, such as a trust or company.
Competitive fixed and variable interest rate options.
You can get a loan for up to 100% of the value of the property, depending on your affordability and risk profile.
Competitive interest rates.
You can repay your loan over 20 years.
Credit life insurance may be needed - this covers payment of your home loan in the event of death, dread disease, permanent disability or retrenchment.
What you will need to apply
You have to be 18 years old or older or be an emancipated minor.
You have to earn a single or joint gross monthly salary of R3500 or more.
You need to have a transaction account into which your salary is deposited.
Home-owners insurance is compulsory. You have the option of arranging your own insurance over the property.
You must also bring all required documents. See the document checklist to help you get ready to apply.
When purchasing in a sectional title complex where the number of units is between 2 and 10, you must complete a letter of awareness (English) (Afrikaans) as indicated on the document checklist.
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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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