Do banks give 110% home loans?

PotatoGuardian

Well-Known Member
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Jul 3, 2014
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304
I feel like years ago my parents mentioned they got a 110% home loan an wondering if banks still do that or if it's one of those back in the day things.

We earn pretty decently collectively but the transfer and bond costs are so much and it just feels like we can never buy a better house because those costs scale with the purchase price
 

LazyLion

King of de Jungle
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Mar 17, 2005
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102,046
Yes, you can ask your bank to include transfer and lawyer's costs. If you have to do any renovating, they will only consider it if the total bond cost is still less than the sale value of the home.
 

Venomous

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Oct 6, 2010
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When we bought a year ago we were outright told no, thry no longer include the bond fees.
We ended up paying out a policy to get the money as we really did not want to lose the house.
When our old place was sold we dumped the money back in and restarted the policy.
However our purchase was not subject to the sale of the old place. What was left then got dumped into the new bond bringing it down nicely.
 

The_Techie

Resident Techie
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Dec 26, 2006
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11,217
When we asked Nedbank about this a couple of months ago, we were told it's no longer being done. Not sure if this applies to all banks.
 

bratwurst

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Oct 15, 2008
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3,873
Buddy of mine recently bought a fixer upper. They got a 110% bond through FNB. Might only be due to the house being undervalued. They scored a bargain.
 
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