How do yiu go about the process of a rate review with FNB?
Were you successful?
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Bond interest rate
- Thread starter Agent_Smith
- Start date
Were you successful?
I submitted the form to FNB after three months of opening the bond and received a 0.35% reduction, I re-applied again 3 months later and my rate was reduced further by another 0.35%. Subsequent applications were rejected (since the repo was already at 30 year lows) but it did not matter at that stage since I already ate significantly into the bond, I settled it within 4 years.
zerocool2009
Honorary Master
Just email FNB Homeloans at [email protected] and ask for the rate review document
I was successful in the past, but with the latest spikes in interest rate hikes the banks are more smiling ...
Great, thanks, will try that and hope for the best..
F
Former member 61586
Guest
Lol, Standard Bank I doubt would ever fall for this rate review voodoo.
Drifter
Honorary Master
Standard Bank took my bond over from SA Homeloans at prime -1.75
Goobie
Expert Member
Was this recently?
zerocool2009
Honorary Master
What do you guys see as a good rate currently ?
shadow_man
Executive Member
Colleague has prime -2.5% , so I'd say that.
F
Former member 61586
Guest
Prime minus anything.
zerocool2009
Honorary Master
I'm guessing he got that rate when prime was around 13% in 2008/09
zerocool2009
Honorary Master
I think that as well ! I think more pre 2005 maybe !
shadow_man
Executive Member
That is SB staff ratenot bad !
You were right the first time! He's ex SB.
AntennaMan
Expert Member
- Joined
- Apr 17, 2014
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Nedbank just offered us Prime - 0.15%.
We're still waiting for the other banks. Fnb has approved the loan, but have not yet given us a rate. ABSA and SB are pretty useless...
We're still waiting for the other banks. Fnb has approved the loan, but have not yet given us a rate. ABSA and SB are pretty useless...
F
Former member 61586
Guest
Applied for R2.4 million loan with us providing a R200k deposit.
So far Standard Bank whom I bank with offered 11.1%.
SA Home Loans offered 10.7%.
Still waiting on other 3 big banks.
Must admit I am not impressed thus far.
So far Standard Bank whom I bank with offered 11.1%.
SA Home Loans offered 10.7%.
Still waiting on other 3 big banks.
Must admit I am not impressed thus far.
How much does it cost per month to pay that off.?
I am very new to this but I want to start buying property the greater of my wealth will be in shares, but I would like to own at least one physical home for myself and one Comercial property that I can rent out and sell when the price is right but long story short I'm not sure why would be the best save up till I have 1 mil and take out a 200k loan for a 11k property ( the other 100k would be to cover costs) or should I save up till I have say 400k and take out a massive loan like you have?
I don't want to be in dept for my entire life.
So far dept free I buy everything cash phones included.
F
Former member 61586
Guest
Repayment is between R22k and R25k depending on term length and interest rate.
I also live debt free. Only debt I do have is my current home loan of which I pay double payments every month.