We didn't get the 100% BOND!

I recently got 100% bond for 700k, although my affordability was in line with 1.2 mil. Interest rate was 10,9% :( Was hoping for prime minus.

Edit: That was through my bank, FNB.
 
I think banks where you have a relationship are arrogant and too comfortable. They seem to only chase new clients instead of retention.
 
i had exact same thing with absa where i banked for 15 years.Thy only offered 75% loan.FNB ,where i had had nothing, 100% loan...i went with FNB.
 
Hemi300c said:
I think banks where you have a relationship are arrogant and too comfortable. They seem to only chase new clients instead of retention.
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I agree with this only because of the application I made 4 months before. SB were willing to give me the bond at 90% even though my bank said no - this makes me believe they are ignoring customer retention as you said.

Recently got an 8% increase then they're all over the place, giving me loans for Africa...I had a surplus of 12k per month excluding the rental I was paying so it's a little confusing to be honest. Without current rental it would have been 16k extra every month. My credit record is "Above average" according to Capitec.

I don't know if being 25 counts against my favour, but this isn't insurance, it's a secured loan.
 
Well FNB & Wesbank might loose a loyal customer for over 30 years, plus my business accounts as well.

I am self employed so I accept they don't take my income in account, but my wife should comfortably qualify with her income alone. Guess computer algorithms sometimes get it really wrong or some junior FNB clark f....d up.
 
moklet said:
Well FNB & Wesbank might loose a loyal customer for over 30 years, plus my business accounts as well.

I am self employed so I accept they don't take my income in account, but my wife should comfortably qualify with her income alone. Guess computer algorithms sometimes get it really wrong or some junior FNB clark f....d up.
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They would take your income into account over 6 months as apposed the 3 months for a salaried employee.

Also, first time buyers make up a huge percentage that shouldn't influence their decision negatively.
 
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diabolus said:
i had exact same thing with absa where i banked for 15 years.Thy only offered 75% loan.FNB ,where i had had nothing, 100% loan...i went with FNB.
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I bank with FNB and got squat from them.

Nedbank gave me 100% with prime + 0.8%, which I figured is the best I would get as a new buyer.

Other banks didn't even bother to respond in a week.

Now just waiting for me house to be finished so I can move in! (Buying from developer).
 
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