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SlowInternet
Executive Member
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- Oct 11, 2006
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- 8,322
Mine is at FNB and is prime.
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Home Loan current interest rate and bank
- Thread starter mohammedessay
- Start date
The bond on my existing property (2007) is prime -1.35. I don't currently live there but I don have family living there, so it's not a rental property.
Currently buying a second property with my fiance, first offer from her bank (FNB) is prime +0.35. But since we applied at all the banks as well as sa homeloans I'm hoping to have at least one offer at prime or below. I'll be very dissapointed if my own bank doesn't meet my expectations.
Currently buying a second property with my fiance, first offer from her bank (FNB) is prime +0.35. But since we applied at all the banks as well as sa homeloans I'm hoping to have at least one offer at prime or below. I'll be very dissapointed if my own bank doesn't meet my expectations.
Bunta
Expert Member
- Joined
- Jan 29, 2014
- Messages
- 1,145
Ditto. 'cept I bought a year ago.
Previous Bond (taken out in 2005), had Prime less 1.8%.
Quick question about this guys.
I have had my homeloan with FNB since end of 2013/beginning of 2014. The lowest rate I could get was prime plus 0.25 - I think because it was a 101% bond (something like that). Now that I have paid slightly more than my required monthly installments since then, how would I go about getting FNB to lower my interest rate?
I have had my homeloan with FNB since end of 2013/beginning of 2014. The lowest rate I could get was prime plus 0.25 - I think because it was a 101% bond (something like that). Now that I have paid slightly more than my required monthly installments since then, how would I go about getting FNB to lower my interest rate?
You wouldn't think so, but it seems that when you do a joint bond application it matters which name goes on the application as the main applicant. The three banks we applied to where my SO's name went first gave bad rates (+0.35/+0.45) and in one case simply said they won't do a 90% loan. The two where I was the "main applicant" quite happily gave us about 1% lower.
Since we're getting a rate we're happy with I see this as amusing, but as you can imagine my SO is seething...
Since we're getting a rate we're happy with I see this as amusing, but as you can imagine my SO is seething...
I own three properties and only two of them are with 1 bank. My advice is that go to Nedbank because when it comes to banks you owe them no loyalty except your interests. Service is very important coz they are not doing you any charity you will be paying. As for what you got my advice next time is that don't go to bond originators when u applying for home loan. Go to your bank yourself and then start going to other banks to get them to beat that quote and then go back to your bank. Depending on what u get stick with whoever got u a better deal.