Lower homeloan rate?

Rabobi

Executive Member
Joined
Dec 15, 2006
Messages
7,766
#1
So i was looking at moving all my accounts to FNB. Sick of Nedbank

Would FNB typically take over the bond and is it a good time to request a lower rate at either bank?
 

Hamster

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Aug 22, 2006
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30,468
#2
Annectodotal, but when when I was doing bond applications I wanted to go with FNB since I'm a client. Application was sent to other banks and Nedbank came back with the lowest rate. Sent it to FNB who matched it - no issues.

So pretty sure that if you have a good credit record that FNB would gladly take your business.
 

Rabobi

Executive Member
Joined
Dec 15, 2006
Messages
7,766
#3
Annectodotal, but when when I was doing bond applications I wanted to go with FNB since I'm a client. Application was sent to other banks and Nedbank came back with the lowest rate. Sent it to FNB who matched it - no issues.

So pretty sure that if you have a good credit record that FNB would gladly take your business.
Im hoping they want my business enough to offer a decent rate, and a lower one than nedbank, lets see. Ive requested a call back
 

Mike Hoxbig

Honorary Master
Joined
Apr 25, 2010
Messages
34,409
#4
So i was looking at moving all my accounts to FNB. Sick of Nedbank

Would FNB typically take over the bond and is it a good time to request a lower rate at either bank?
No, your bond remains with who you signed it with.

You'll need to transfer your bond separately, which may incur bond registration costs again...
 

zerocool2009

Expert Member
Joined
Sep 4, 2009
Messages
2,614
#5
I dont know if you bank with FNB firstly.

FNB homeloans currently have a switch campaign going (determined on what product you currently have (current account).

Do not guess about processes or condition, these might change from time to time. Your expectations might not be managed and you are unhappy then and blame the banks. Give 90 days notice at your bank and approach FNB. If you decide not to switch, your own bank will not penalize you.

If you dont bank at FNB, they will give you additional % off (the offered interest rate)

PM me if you need more info
 
Last edited:

Ruxin

Active Member
Joined
Jun 21, 2017
Messages
51
#6
Annectodotal, but when when I was doing bond applications I wanted to go with FNB since I'm a client. Application was sent to other banks and Nedbank came back with the lowest rate. Sent it to FNB who matched it - no issues.

So pretty sure that if you have a good credit record that FNB would gladly take your business.
We recently also had this experience, FNB first offered us prime and then Nedbank offered us a better deal. We went back to FNB and finally got Prime -1.
 

HeftyCrab

Expert Member
Joined
Mar 26, 2009
Messages
2,134
#8
Annectodotal, but when when I was doing bond applications I wanted to go with FNB since I'm a client. Application was sent to other banks and Nedbank came back with the lowest rate. Sent it to FNB who matched it - no issues.

So pretty sure that if you have a good credit record that FNB would gladly take your business.
This. They matched Investecs interest rate and gave me a 50% discount on the transfer fees. If they really want your business they will really put in a good amount of effort.
 

Chuckmyster

Honorary Master
Joined
Aug 2, 2016
Messages
10,107
#9
Been with FNB since the 80s with my Bob T Card.
Have an active bond account with them and I will never use another bank,
I am on prime - 0.5%.
Pretty sure if your records are all in order they will happily bring you over, good luck
 

zerocool2009

Expert Member
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Sep 4, 2009
Messages
2,614
#10
If you have a bond already with FNB .. and move another bond to them. You SCORE big time !

All bond costs waved. Your first Debit Order (on your bond 50% refunded via eB).
 

Rabobi

Executive Member
Joined
Dec 15, 2006
Messages
7,766
#11
To clarify

Bond is with Nedbank, 9.05%. My current account with Nedbank.

Looking to move all my business to FNB for reasons which arent of interest here
 

zerocool2009

Expert Member
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Sep 4, 2009
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2,614
#13
Banks are banks at the end of the day. Everyone has their weak and strength points

If you are unhappy where you are ... MOVE ! (as easy as that)
 

Zenbaas

Honorary Master
Joined
Oct 23, 2005
Messages
13,657
#14
Will start shopping for a homeloan soon through all the major banks. I see there are websites eg betterbond etc that apply to various banks to compare interest rates and so forth. Is it worth going this route or rather just apply directly..? Also currently bank with Capitec but I'm assuming at least some of the banks will offer a better interest rate if you switch over to them (thinking FNB here)...?
 

Hamster

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Joined
Aug 22, 2006
Messages
30,468
#15
My post up there ^ was done through Betterbond. They were kinda pushed into me by the developer/agen5 but all in all a good experience. The agent who helped me was Melody I think.

Anyway - told her I wanted FNB and I got FNB with a bow prime rate. And it didn't take long.
 

zerocool2009

Expert Member
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Sep 4, 2009
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2,614
#16
Go with FNB Homeloans directly ! (its an entiry on their own).

Just apply online (and you will get LOADS of ebucks for free !
 

Fcon_Vpro

Senior Member
Joined
Oct 9, 2007
Messages
836
#17
Will start shopping for a homeloan soon through all the major banks. I see there are websites eg betterbond etc that apply to various banks to compare interest rates and so forth. Is it worth going this route or rather just apply directly..? Also currently bank with Capitec but I'm assuming at least some of the banks will offer a better interest rate if you switch over to them (thinking FNB here)...?
I went through betterbond and it made the process easier. I would definitely go through them again.
 

Recallza

Well-Known Member
Joined
Jun 22, 2018
Messages
415
#19
FNB was outstanding when it came to applying for a home loan.. I find BO's are actually more complicated.. That's just from the experience I had though
 
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