Best bank for home loan ?

rawoke

Well-Known Member
Joined
Dec 2, 2009
Messages
276
HI all
I'm doing some research on Home Loans and what banks are the best and easiest to get the process going ?

So far its shocking:

FNB:
Fill in forms all you like ! No one calls you back !

Nedbank:
You can't fill in the home loan form if you NOT on a WINDOWS PC !!!!

StdBank:
So far so good ! Will see if they contact me in the next few days.

Absa:
Yea right !
 

RazedInBlack

RazedInBlack
Joined
Sep 4, 2008
Messages
35,392
Go to a bond originator. They do all the work for you, even negotiate with the bank on your behalf if they good.
 

Paul_S

Expert Member
Joined
Jun 4, 2006
Messages
4,509
I'm very happy with SA Home Loans although they are not a bank.
The consultant who handled the application was jacked up and she always got back to me promptly if I had questions.
I've also used the SA Home Loans call center a couple of times and they are quick and friendly. It's actually surprising to receive customer service that doesn't suck in South Africa.

Standard Bank, ABSA and Nedbank either didn't want my business or they offered me horrendous interest rates (prime +3.5%).
Paying prime +0.1% (JIBAR + 3.6%) with SA Home Loans at the moment.
 

TJ99

Honorary Master
Joined
Apr 30, 2010
Messages
10,733
Yep, bond originators. Then go with the bank that gives you the best offer. Standard Bank refused to match the offer FNB made me, so I ended up moving my other accounts over to FNB as well.
 

LazyLion

King of de Jungle
Joined
Mar 17, 2005
Messages
102,050
I just got a Home Loan from Standard Bank this week! Excellent!

The process was painless, the response was quick, the rate was good (8.07%), and the repayment installments are excellent!
 

LazyLion

King of de Jungle
Joined
Mar 17, 2005
Messages
102,050
I'm very happy with SA Home Loans although they are not a bank.
The consultant who handled the application was jacked up and she always got back to me promptly if I had questions.
I've also used the SA Home Loans call center a couple of times and they are quick and friendly. It's actually surprising to receive customer service that doesn't suck in South Africa.

Standard Bank, ABSA and Nedbank either didn't want my business or they offered me horrendous interest rates (prime +3.5%).
Paying prime +0.1% (JIBAR + 3.6%) with SA Home Loans at the moment.
Mine was the reverse. SA Home Loans were pathetic, and Standard Bank was excellent.
 

Paul_S

Expert Member
Joined
Jun 4, 2006
Messages
4,509
Mine was the reverse. SA Home Loans were pathetic, and Standard Bank was excellent.
Yeah it seems to be dependent on the staff.
The Standard Bank consultant didn't even try to help me. He just lent over and said to me softly: "Try SA Home Loans".
So I walked out of the bank (Standard Bank Northgate branch).
 

rawoke

Well-Known Member
Joined
Dec 2, 2009
Messages
276
Thanks guys !I like the idea of Bond Originators.
Will try both SA Home Loans and Better Bond
 

patrick

Expert Member
Joined
Dec 14, 2005
Messages
3,111
Yep, bond originators. Then go with the bank that gives you the best offer. Standard Bank refused to match the offer FNB made me, so I ended up moving my other accounts over to FNB as well.
Another vote for this. My bank wasn't even in the same ballpark as some of the others for my loan.
 

GPSJane

Well-Known Member
Joined
Jun 14, 2009
Messages
474
HI all
I'm doing some research on Home Loans and what banks are the best and easiest to get the process going ?

So far its shocking:

FNB:
Fill in forms all you like ! No one calls you back !

Nedbank:
You can't fill in the home loan form if you NOT on a WINDOWS PC !!!!

StdBank:
So far so good ! Will see if they contact me in the next few days.

Absa:
Yea right !
Funny enough I have had a similar experience. I went as far as calling FNB who have no record of any application filled in online and can't answer me when I ask why they bother with a website. The Nedbank application doesn't even work on a PC. I left Standard Bank a few years ago so not too keen on them but we will see what Better Bond say.
 

TelkomUseless

Executive Member
Joined
Mar 13, 2006
Messages
7,737
I'm very happy with SA Home Loans although they are not a bank.
The consultant who handled the application was jacked up and she always got back to me promptly if I had questions.
I've also used the SA Home Loans call center a couple of times and they are quick and friendly. It's actually surprising to receive customer service that doesn't suck in South Africa.

Standard Bank, ABSA and Nedbank either didn't want my business or they offered me horrendous interest rates (prime +3.5%).
Paying prime +0.1% (JIBAR + 3.6%) with SA Home Loans at the moment.
+1 on SAHL.

Awesome service!
 

ddrd

Well-Known Member
Joined
Apr 5, 2012
Messages
145
Just did my 1st homeloan through Standard Bank, must say they where pretty quick and getting very decent rates aswell, no hassels
 

lsheed_cn

Expert Member
Joined
Sep 14, 2008
Messages
2,863
Interestingly I had a bad experience with SA Home Loan.

Applied and received pre-approval for a bond for a 1.5mill home, with 300k deposit.

I was completely clear up front as to income / financial status etc (I work overseas for 10 months of the year+-, but have a decent income), and lots of proof thereof in the form of monthly deposits to the bank.

Found a place I liked @ 1.45M , started the purchase, and they changed their minds and reneged on the agreement *after* signing the paperwork, despite applying for and receiving pre-approval from them on paper. Eventually, I had to put a 800k deposit in, and bring in a co-signor before they would do the bond. The lady we dealt with was also more annoyed than helpful when I brought up that their reneging the deal had caused us lots of hassle, and additional work, instead of rather apologetic. I wasn't amused.

Then they added home insurance to the bond payments, despite us telling them that we already had it in place numerous times in writing prior to completion. That took a few months to sort out, mostly as I was quite vehement by that point, and wasn't taking no sorry sir for an answer. If i hadn't persevered we'd probably be paying now still.

They were a pain to deal with, didn't follow instruction, and almost screwed up the deal.
I would not recommend them, unless you didn't have better options.


For my next purchase, I'm probably going back to FNB.
 
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