Good Bond Offers

[TheGuy]

Hi Guys

Just want to check with you if this is good offers for a bond.

Just keep in mind this is my first bond and I've never bought a car or anything big on credit.

Nedbank:

80% loan at 9.65% interest rate.

FNB:

80% loan at 12% interest rate.

Standard Bank:

100% loan at 9.15% interest rate.


I won't get much lower then SB or will I?

 

[xrapidx]

My recent research indicated ABSA offering the lowest interest rate... coupled with the lowest service levels.

 

[syntax]

I got prime recently on my first bond, also through std bank.
I think ur rate there is gonna be as good as it gets.
Do you bank with std bank?

 

[syntax]

My recent research indicated ABSA offering the lowest interest rate... coupled with the lowest service levels.

I doubt he will get lower than prime, in fact i can almost guarantee he wont on a first time purchase.
9.15% is pretty damn good..

 

[xrapidx]

I did a year ago Whats prime, 9?

 

[syntax]

I did a year ago Whats prime, 9?

yeah, its 9. Were u a first time buyer? If so, thats insane. I got prime on the dot, and was told that was ludicrous.

 

[Nerfherder]

Are those fixed or relative to the repo ?

 

[syntax]

Are those fixed or relative to the repo ?

If thats fixed then he is doing damn well....i doubt it though

 

[rorz0r]

Take that SBSA one now

 

[TheGuy]

I got prime recently on my first bond, also through std bank.
I think ur rate there is gonna be as good as it gets.
Do you bank with std bank?

Jip

Are those fixed or relative to the repo ?

Relative

Take that SBSA one now

Ok cool will do.


can you renegotiate the rate in couple of of years or is it for the whole term of the bond?

 

[rorz0r]

You can try...

 

[Nerfherder]

can you renegotiate the rate in couple of of years or is it for the whole term of the bond?

No not really but what might happen is that if prime drops even lower they will offer to fix the interest rate, this could be a good thing if the rate goes up.

You might also be able to refinance your loan but there are often penalties if you do that.

 

[czc]

Over how many years are they?

StdBnk one looks good. Just got mine also from Standard Bank 9% 100% Bond over 20 years

 

[TheGuy]

Over how many years are they?

StdBnk one looks good. Just got mine also from Standard Bank 9% 100% Bond over 20 years

I've asked for 30 years

 

[xrapidx]

yeah, its 9. Were u a first time buyer? If so, thats insane. I got prime on the dot, and was told that was ludicrous.

Yip - getting my dates confused with the New Year, applied in June 2009 - Took transfer in November 2009 - so been there for just over a year.

Paying prime - 1.5% on the amount below a million, and prime - .5% on the amount above a million... First time buying in my personal capacity.

 

[czc]

I've asked for 30 years

Oh, you'ed probably pay more in interest over such a long term. The offer I had from FNB was 12% interest over 12 years.

 

[TheGuy]

Oh, you'ed probably pay more in interest over such a long term. The offer I had from FNB was 12% interest over 12 years.

yes but I'm renting it out so the plan is to pay the bond out of my salary and then pay all the rent I get from the place in as well. I calculated it would take approx. 8 years to pay off the place. So I won't pay any extra interest.

 

[phoneJunky]

I got a 90% loan at prime -0.5 last year at ABSA and I was a first time buyer. Standard bank gave me prime 90%, so I would say go check with ABSA as well.

 

[TheGuy]

I got a 90% loan at prime -0.5 last year at ABSA and I was a first time buyer. Standard bank gave me prime 90%, so I would say go check with ABSA as well.

thanks will do