Bond interest rate

Agent_Smith said:
Disgusting from Investec. That does seem to smack of complete elitism. I wonder if yours is an isolated incident or whether this is the norm.
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Don't think it's the norm but judging from Investec's Hellopeter profile their service levels are a lucky packet all dependant on which private banker they assign to you. Unfortunately for me the guy "helping" me seems to be the assigned guy for Bloemfontein and the Free State. So I would be stuck with him.
 
Agent_Smith said:
Disgusting from Investec. That does seem to smack of complete elitism. I wonder if yours is an isolated incident or whether this is the norm.
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Granted, I already bank with them but my service has always been fantastic. Applied for a bond and vehicle finance, heard back the following day with offers of Prime -1% on both of them.
 
Last update from me for those interested.

Decided to accept the offer from Standard Bank at 10.65% for R2.4 million. This offer was accepted on condition the lawyers for transfer are to be my choice as I got 40% discount from a lawyer who is doing both bond registration and transfer. R25k saved.

Also busted the agents who were lying to both me and the sellers. The original lawyer to be used for the transfer was the principal of the estate agency's son who obviously refused any discount and was quite the hard-ass. They told me that the sellers refused to change attorneys. When I called the sellers to negotiate personally, they informed me that it was the first time they are hearing of this and that they have zero problem in changing attorneys. They just want the place sold as quick as possible as they are emigrating. So now the estate agency will lose the opportunity to profit off the sale of my current home as I wont use them for obvious reasons.
 
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ambroseg1 said:
When I called the sellers to negotiate personally,
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Never knew this was possible to be honest. Calling the sellers directly I mean when buying through an agency.
We're looking for a place, sometimes the owners are there, if you're keen to just want to be able to have a quick chat with them.
Yeah I like the place, I'll offer X, they say Y, we shake hands and it's done.

Now I have to go through the shlep of meeting the agent, filling in a bunch of papers, signing everywhere, and the owners can still decline.
 
Sepeng said:
Never knew this was possible to be honest. Calling the sellers directly I mean when buying through an agency.
We're looking for a place, sometimes the owners are there, if you're keen to just want to be able to have a quick chat with them.
Yeah I like the place, I'll offer X, they say Y, we shake hands and it's done.

Now I have to go through the shlep of meeting the agent, filling in a bunch of papers, signing everywhere, and the owners can still decline.
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Well everything is done through the agents. My initial request for the change of lawyer as well. I did however suspect the agency was playing us for a fool when they told me the owners outright refused the lawyer change as I knew the owners wanted the place sold ASAP as they had to get their stuff in order to emigrate in December. I had their numbers from the offer to purchase contract, so took it upon myself to contact them directly for nothing else than to verify if the agent was telling me the truth about their decision. And I was right.
 
ambroseg1 said:
So now the estate agency will lose the opportunity to profit off the sale of my current home as I wont use them for obvious reasons.
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you don't need an agent to sell your property by the way, simple gumtree ad will get you buyers which is essentially the only thing the agent does these days
 
saturnz said:
you don't need an agent to sell your property by the way, simple gumtree ad will get you buyers which is essentially the only thing the agent does these days
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Yip. Agreed. Going to pay a bit of money and get a private property advert.
 
Its so easy to sell or buy a property private ! Get a offer to purchase from the CNA, complete and get a bond or have the cash !
 
Out of interest - what rates have others got recently?

Purchase Price: R1 875 000
Deposit: R 300 000
Bond needed: R1 575 000
Location: CPT
NOTE: 2nd home (intention is for this to become prime residence and my current residence will become an investment property that is let out to tenants).

Nedbank: 9.8% - revised to 9.65% (20 years)
Standard Bank: 9.82% (30 years) (asked them to beat Nedbank - will see)
SA Home Loans: 10.15% (20 years) (WANT R800 000 deposit)
FNB: Waiting to hear back
ABSA: Keep saying they don't have my docs when I've sent them through to 2x people and called (USELESS)

Out of interest - what rates have others got recently?
 
jsheed_sa said:
Out of interest - what rates have others got recently?

Purchase Price: R1 875 000
Deposit: R 300 000
Bond needed: R1 575 000
Location: CPT
NOTE: 2nd home (intention is for this to become prime residence and my current residence will become an investment property that is let out to tenants).

Nedbank: 9.8% - revised to 9.65% (20 years)
Standard Bank: 9.82% (30 years) (asked them to beat Nedbank - will see)
SA Home Loans: 10.15% (20 years) (WANT R800 000 deposit)
FNB: Waiting to hear back
ABSA: Keep saying they don't have my docs when I've sent them through to 2x people and called (USELESS)

Out of interest - what rates have others got recently?
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Nedbank also came with the best rates for me back in the beginning of the year
 
If I want to move my loan to another bank, do I have to pay registration fees again?
 
jsheed_sa said:
Mind sharing what you got - and if it was your 1st or 2nd property?
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1st property
20% Deposit
Fnb declined (Self employed but long enough for them - even though they are my business bank)
11,4 with SAhomeloans
11,5 with mercantile bank
10,52 with standard bank
10,2 with nedbank

These are figures from before the rate decrease - my rate with nedbank is 9,95 currently
 
Ive just fought the good fight with FNB, and after 2 years of paying bond (and putting in a little extra), they have reduced the rate from P-0.3% to P-0.5%. I wanted more but any decrease is a good decrease.
 
9%, but sold recently. I'm expecting a lot higher because my credit score isn't as good as it was 10 years ago. I have 200k deposit and the house I'm looking at costs R1 660 000
 
calypso said:
Ive just fought the good fight with FNB, and after 2 years of paying bond (and putting in a little extra), they have reduced the rate from P-0.3% to P-0.5%. I wanted more but any decrease is a good decrease.
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Need more details man, lol
How much is a little extra?
Who did you speak to and how/what did you ask?
 
rodga said:
Need more details man, lol
How much is a little extra?
Who did you speak to and how/what did you ask?
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With FNB you can speak to your banker and they can put you through to the home loans department. For me it was [email protected].
I put in about an extra 5% of the original capital amount over and above my monthly repayments. Only downside is that any extra that you had put into the access part of your bond is long longer accessible after a rate change.
 
Ah yes I remember reading that little bit fine print. Probably won't work for me then.
 
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