Nedbank "Instant" Bond Indicator

[herbertk]

So Nedbank has been advertising this "instant" bond indicator.

We have been thinking of buying a place so I though let me give it a shot and see what it says, so I fill in the details only to be told the credit check is clear but they are unable to give me an indication and I need to do a full bond application in order to proceed.

What is the point its either instant or it is not ? Any one else used this ?

 

[Sodan]

So Nedbank has been advertising this "instant" bond indicator.

We have been thinking of buying a place so I though let me give it a shot and see what it says, so I fill in the details only to be told the credit check is clear but they are unable to give me an indication and I need to do a full bond application in order to proceed.

What is the point its either instant or it is not ? Any one else used this ?

Won't you please do us all a favour and take them to the ASA? This appears to be nothing more than a false advertising to get you to apply for a bond through them.

 

[herbertk]

Won't you please do us all a favour and take them to the ASA? This appears to be nothing more than a false advertising to get you to apply for a bond through them.

Sounds like a plan.... I also thought it was misleading advertising to say the least.

 

[Other Pineapple Smurf]

So Nedbank has been advertising this "instant" bond indicator.

We have been thinking of buying a place so I though let me give it a shot and see what it says, so I fill in the details only to be told the credit check is clear but they are unable to give me an indication and I need to do a full bond application in order to proceed.

What is the point its either instant or it is not ? Any one else used this ?

Standard Bank have this, had it two years ago. Did it one night and within seconds found I qualified (at last) to buy a house.

Its nothing magical and its no guarantee as you still need to do the whole application. It just gives more bargaining power with other banks and sellers - it helped me with my OTP as we found a house a week later and the agent was able to show the seller we where serious buyers (lots of interest in the house as it was distressed sale).

Ended up working through a bond originator (OOBA) who got me my bond (with FNB) at a better interest rate.

Don't write off SA Homeloans who also offered me a sweet deal.