Buying a house....

shebeen said:
have got a current HL with FNB at prime -1.8% (from 2006) - in no rush to pay it off
looking at selling and buying larger house, so might need to increase the loan amount(at same rate, 1st prize, but let's be realistic here)
anyone had any experience with their Move home not loan service?

https://www.fnb.co.za/home-loans/move-home-not-home-loan.html
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It is move home or eBucks, not both on a Firstbond only. Move home can only be made applicable if a Firstbond is applied for and not an existing bond to purchase a new property.
 
****ing lawyers... Nearly R2k in "postages, petties and telephone" between the 2 firms, dunno what they're posting but it better be good! Firms are 5km apart, I'm wondering the response if I tell them to stick it and I'll arrange an Uber for any docs that need to go between them...

I see they've gotten ahead of the predictable, "why don't you just email" response from clients, they charge for that too!

aii, aii, aii, I'm in the wrong profession
 
zerocool2009 said:
It is move home or eBucks, not both on a Firstbond only. Move home can only be made applicable if a Firstbond is applied for and not an existing bond to purchase a new property.
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Are you sure on that? The way I read it is a little different, (and there's no mention of firstbond or eBucks) https://www.fnb.co.za/downloads/Hom...ome-Loan-Qualifying-Criteria-and-Benefits.pdf

I understand it's essentially a new loan, as it's backed by a different property, but they are wrapping it up like it's a simple swap. I'm interested in how they adjust the terms (loan amount and intrate). But I'm here to learn!


MOVE HOME, NOT YOUR HOME LOAN 1. Customer Eligibility for the Move Home not your Home Loan The Move Home not your Home Loan offering is available to existing FNB Home Loans customers, who apply for a new home loan, with FNB Home Loans through an authorised sales channel and specifically request this offering and successfully meet the qualifying criteria contained herein, and will take effect after the registration of the new home loan. Existing home loan customers will qualify for the Move Home not your Home Loan benefit once only.
 
ScottulusMaximus said:
****ing lawyers... Nearly R2k in "postages, petties and telephone" between the 2 firms, dunno what they're posting but it better be good! Firms are 5km apart, I'm wondering the response if I tell them to stick it and I'll arrange an Uber for any docs that need to go between them...

I see they've gotten ahead of the predictable, "why don't you just email" response from clients, they charge for that too!

aii, aii, aii, I'm in the wrong profession
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Yup pricey huh
 
shebeen said:
Are you sure on that? The way I read it is a little different, (and there's no mention of firstbond or eBucks) https://www.fnb.co.za/downloads/Hom...ome-Loan-Qualifying-Criteria-and-Benefits.pdf

I understand it's essentially a new loan, as it's backed by a different property, but they are wrapping it up like it's a simple swap. I'm interested in how they adjust the terms (loan amount and intrate). But I'm here to learn!


MOVE HOME, NOT YOUR HOME LOAN 1. Customer Eligibility for the Move Home not your Home Loan The Move Home not your Home Loan offering is available to existing FNB Home Loans customers, who apply for a new home loan, with FNB Home Loans through an authorised sales channel and specifically request this offering and successfully meet the qualifying criteria contained herein, and will take effect after the registration of the new home loan. Existing home loan customers will qualify for the Move Home not your Home Loan benefit once only.
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A new bond will be registered whereby the bank will pay the registration fees on behalf of the customer. Nowhere does the bank state “it is a simple wrap” as a new bond will still be registered and a new agreement and relevant documents drawn up by attorneys
 
Lupus said:
Yeah it really is, I argued that with the lawyers as well.
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Look I've got no problem with them saying, "the law society says we need to charge X but we're in PTA East, you people have money, so we charge extra because we can..." But nickle and diming clients with made up fees just leaves a bad taste in my mouth. The more I think about it the more annoyed I get actually.
 
ScottulusMaximus said:
****ing lawyers... Nearly R2k in "postages, petties and telephone" between the 2 firms, dunno what they're posting but it better be good! Firms are 5km apart, I'm wondering the response if I tell them to stick it and I'll arrange an Uber for any docs that need to go between them...

I see they've gotten ahead of the predictable, "why don't you just email" response from clients, they charge for that too!

aii, aii, aii, I'm in the wrong profession
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What is your bond total for?
 
ScottulusMaximus said:
Look I've got no problem with them saying, "the law society says we need to charge X but we're in PTA East, you people have money, so we charge extra because we can..." But nickle and diming clients with made up fees just leaves a bad taste in my mouth. The more I think about it the more annoyed I get actually.
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The two lawyers we were dealing with were 2 minutes up the road from each other, I know this because I went to one to sign the docs and the other for something as well. I could've done the delivery for R20 instead of R2000.
 
What would you say the interest rate should be if your bond on your first property is only 50% of the value of property. (1.5 bar is the loan value)

Thinking I need to go and renegotiate with FNB. I have had it for 2.5 years now. Need prime - 1.5
 
Daruk said:
That R2000 was for them to come to your house in their time with the documents for you to sign. You got suckered LOL.
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That's rich considering they didn't come to my house :-( I had to go to them.
 
Daruk said:
But you drank (or you might have drunk) their coffee in the waiting room.... and they have to pay for that space and the chair you sat in... so...
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Hahaha not even did I do that :-(
 
ScottulusMaximus said:
Look I've got no problem with them saying, "the law society says we need to charge X but we're in PTA East, you people have money, so we charge extra because we can..." But nickle and diming clients with made up fees just leaves a bad taste in my mouth. The more I think about it the more annoyed I get actually.
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When buying property, ask the seller to do the transfer leg also (meaning, the attorney you would use would give you discount on the fees if they are doing the bond and transfer legs).
 
zerocool2009 said:
When buying property, ask the seller to do the transfer leg also (meaning, the attorney you would use would give you discount on the fees if they are doing the bond and transfer legs).
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We bought last year.
Tried that was told no, so I call attourneys in another province and spoke to the bank.

They don't allow that anymore, something about some of the legals being vultures instead of eagles if they do A-Z... In order to prevent that 2 are now used.
 
Venomous said:
We bought last year.
Tried that was told no, so I call attourneys in another province and spoke to the bank.

They don't allow that anymore, something about some of the legals being vultures instead of eagles if they do A-Z... In order to prevent that 2 are now used.
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That call is up to the seller. It has nothing to do with legal stuff ! If you used an agent, the agent will also say NO ! As the one party enrich the other party at the end of the day !

Start learning the in's and out's when buying property !

But now you know ..... (for the next time)
 
Bond registration being signed Sat, anyone know how long roughly after that is transfer? Trying to figure out rough timelines.
 
ScottulusMaximus said:
Bond registration being signed Sat, anyone know how long roughly after that is transfer? Trying to figure out rough timelines.
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Well it's got to get lodged, everting everything from the seller needs to be sorted out as well. A week to 3 months, mine took 3 months as the a hole kept delaying the bypassed prepaid
 
Lupus said:
Well it's got to get lodged, everting everything from the seller needs to be sorted out as well. A week to 3 months, mine took 3 months as the a hole kept delaying the bypassed prepaid
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Ah so it's sit with my thumb in my arse time, joy!
 
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