current bond rates

snail said:
I must admit that is dam good now days.
Click to expand...

That is what the bond originator told us; she said she has not seen such a good rate in the last 3 or 4 months.

My husband has banked with ABSA all his life; then again, that counts for nothing these days.
 
Bank - Standard Bank
Rate - 8.85%
Loan amount - R769 500
Deposit size - 10%
First time owner
December 2011
 
Bank: Std
Rate: 10.4
Deposit: 10%
Bond amount: R810k
Joint- my first home, husbands 3rd.
March 2012
 
any one know of a bank that doesn't require 3 years worth of trading, if your self employed.
 
Bank - SA Homelaons
Rate - 9.13%
Purchase Price - R600 000.00
Loan amount - R540 000.00
Deposit size - 10%
All transfer & bond fees paid by me.
First time owner
July 2011
 
Bank - ABSA
Rate - 8.05%
Purchase amount - R680 000
Loan amount - R612 000 (90% bond)
Deposit - R68 000
First time home owner (purchasing existing home). Zero security (except for the property itself) and no surety.

Update - Renegotiated my bond with ABSA:
Purchase amount - R680 000
Loan amount - R680 000 (100% bond)
Deposit - R0
Rate - 8.05%
First time home owner (purchasing existing home). Zero security (except for the property itself) and no surety.
 
Last edited:
Wow, these rates aren't too encouraging. I was thinking of applying for a R1.4m home loan with a puny 400k deposit, don't even want to know what kind of crappy rates that would get :(
 
Mr Feesh said:
any one know of a bank that doesn't require 3 years worth of trading, if your self employed.
Click to expand...

Get a good bond broker. Our bond application was turned down several times. Then someone referred me to an ex FNB manager. The loan was approved within 48 hours and he got me prime less 1.5%
 
Bank - ABSA
Rate - 8.00%
Purchase amount - R619 000
Loan amount - R544 000
Deposit - R75 000

Second bond
 
Standard Bank Private Bank
Rate: 7.5% (Approved Feb 2013)
Purchase amount - R700 000
Loan Amount - R400 000
Deposit - R300 000

First Bond
I had hoped for an even better rate than that as this really is no risk to them at all - I bought the place an auction and it's worth closer to R1m than the R700 000 I paid, but seems like you'll search long and hard to find less than prime -1%
 
Investec
Rate: 7.25% (Approved Jan 2013)
Purchase amount - R1,700,000
Loan Amount - R1,700,000
Deposit - R0
 
xrapidx said:
Investec
Rate: 7.25% (Approved Jan 2013)
Purchase amount - R1,700,000
Loan Amount - R1,700,000
Deposit - R0
Click to expand...

Wow, did you hand out hand jobs in the Investec parking lot for that rate :p (jk)

Seriously tho, how?
 
Gnome said:
Wow, did you hand out hand jobs in the Investec parking lot for that rate :p (jk)

Seriously tho, how?
Click to expand...

I wanted to move my bond from ABSA - I said I'd only move for a similiar rate, else it gets to expensive to consider.
 
Approved Feb 2013
SBSA Private Banking
Rate: 7.59%
LTV Ratio: 90%
Purchase price: R3.1m
Loan: R2.79m
Deposit: R310k
Property valuation: R3.7m <- This helps to get a higher LTV Ratio, as it reduces the risk to the bank
 
xrapidx said:
I wanted to move my bond from ABSA - I said I'd only move for a similiar rate, else it gets to expensive to consider.
Click to expand...

Absa made me a fantastic offer with prime minus -2. When I studied the contract, I noticed a clause which stated that they could review the interest rate after 2 years and charge whatever they want to. (Not in those exact words but that's what it meant). I asked them to remove the clause but they wouldn't, so I told them to take a hike.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X