Home Loan prime minus

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XIII

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Has anyone taken a home loan out this year yet and been offered prime minus and if so how much? Wife and I have been offered prime minus but want to know what is a good amount.
 
No idea
Started mine through FNB exactly 10 years ago and they gave me prime minus half.
I didn't even know that until my first payment went off
 
XIII said:
Has anyone taken a home loan out this year yet and been offered prime minus and if so how much? Wife and I have been offered prime minus but want to know what is a good amount.
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Have a read through here;

Offer to purchase question

Going to keep it as short as possible. We are in the market for a new home. Went looking at a few places and liked one a lot. But house does need some work and area is not exactly our preferred location. Original listing price was way out of feeling with the market and area. We decided to...
mybroadband.co.za mybroadband.co.za

Tons of good info and offers people received recently etc.

Myself have been offered 6.95% recently
 
XIII said:
Has anyone taken a home loan out this year yet and been offered prime minus and if so how much? Wife and I have been offered prime minus but want to know what is a good amount.
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Im in the process now....wish I can get prime even.

FNB: 100% bond with 7.9% over 20 years
ABSA - Option 1: 100% Bond with 7.85% over 30 years
ABSA - Option 2: 95% Bond with 7.25% over 30 years
ABSA - Option 3: 90% Bond with 7.1% over 30 years
SA Home Loans: 90% Bond with 7.7% over 30 years

I am a bit peeved, we still negotiating, but other people are getting prime minus easy...

Credit score 692 and only have my car as debt. I am not understanding it to be honest.
 
I got offered 6.49% on R2.1mil with R100k deposit via FNB. My credit rating is 600+. This is my 3rd property so it may have something to do with my previous track record, not to mention the deposit of course.
 
Increase your deposit % (at least 20%) and you should see a difference
 
Not a single client banking credit scoring are the same! (Its nothing to do with credit history as in credit4life or transunion).

The rate given by the “rate engine” look at your banking profile.

I got offered 6.5% (fixing my interest rate for 36 months).

My advise, dont compare friends and other clients rates. Put your best deposit down, pay all fees in cash! And then simulate a lower rate!
 
XIII said:
Has anyone taken a home loan out this year yet and been offered prime minus and if so how much? Wife and I have been offered prime minus but want to know what is a good amount.
Click to expand...
We got best rates via Mortage SA (ooba now it seems) many moons ago. Just give it a try, won't hurt.
 
Tjoker said:
Im in the process now....wish I can get prime even.

FNB: 100% bond with 7.9% over 20 years
ABSA - Option 1: 100% Bond with 7.85% over 30 years
ABSA - Option 2: 95% Bond with 7.25% over 30 years
ABSA - Option 3: 90% Bond with 7.1% over 30 years
SA Home Loans: 90% Bond with 7.7% over 30 years

I am a bit peeved, we still negotiating, but other people are getting prime minus easy...

Credit score 692 and only have my car as debt. I am not understanding it to be honest.
Click to expand...
Have you offered to move you salary into a bank account at the respective banks giving you the offer? I had prime less 0.8 and then managed to get prime less 1.0 with moving my salary into a Nedbank account. My contract has a clause to keep that account (Savvy Plus or Bundle) open for the bond term.
 
rsa-ace said:
Have you offered to move you salary into a bank account at the respective banks giving you the offer? I had prime less 0.8 and then managed to get prime less 1.0 with moving my salary into a Nedbank account. My contract has a clause to keep that account (Savvy Plus or Bundle) open for the bond term.
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ABSA just blew FNB out the water...

Updated:
FNB: 100% bond with 7.9% over 20 years with 8.1% over 30 years(My OWN bank)
ABSA - Option 1: 100% Bond with 7.00% over 30 years(Considering to move my salary here for further interest rate drop)
SA Home Loans: 95% Bond with 7.7% over 30 years(Backup deal)
Standard Bank: Nothing yet....slow AF with admin
 
Tjoker said:
ABSA just blew FNB out the water...

Updated:
FNB: 100% bond with 7.9% over 20 years with 8.1% over 30 years(My OWN bank)
ABSA - Option 1: 100% Bond with 7.00% over 30 years(Considering to move my salary here for further interest rate drop)
SA Home Loans: 95% Bond with 7.7% over 30 years(Backup deal)
Standard Bank: Nothing yet....slow AF with admin
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FNB sucks as a bank to be honest...I don't know who does their maths, but they don't seem to know wtf they are doing.
 
FNB has sucked the pass year. I work for a property developer and FNB approved the least bonds and give the highest rates. They also suck with their commercial fixed deposit rates.
 
Krilliano said:
FNB has sucked the pass year. I work for a property developer and FNB approved the least bonds and give the highest rates. They also suck with their commercial fixed deposit rates.
Click to expand...

Its all about appetite for new sales/business
 
Last edited:
The people buying my place just got Prime+1 from SA Homeloans (100% loan)
 
Tjoker said:
ABSA just blew FNB out the water...

Updated:
FNB: 100% bond with 7.9% over 20 years with 8.1% over 30 years(My OWN bank)
ABSA - Option 1: 100% Bond with 7.00% over 30 years(Considering to move my salary here for further interest rate drop)
SA Home Loans: 95% Bond with 7.7% over 30 years(Backup deal)
Standard Bank: Nothing yet....slow AF with admin
Click to expand...

So now FNB will bite with competing offer...although they don't want to match yet.

FNB: 100% bond 7.15% over 30 years(My OWN bank) - will get an additional 0.25% off if I stay with them...
 
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