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Thread: Home Loan current interest rate and bank

  1. #16


    Quote Originally Posted by mohammedessay View Post
    Thanks for replies guys, I opted to go with my bank fnb at prime - 0.25 I did however manage to negotiate with them to pay the bond registration fees
    Are they capitalising it (adding it to your bond) or paying it outright as part of one of their campaigns?

  2. #17
    Junior Member
    Join Date
    Jan 2015
    Melville Johannesburg


    They paying for it

  3. #18

    Default Home Loan current interest rate and bank

    I wonder what's rate going for a 100% loan.Anyone got prime minus with 100% loan this year,if yes which bank is ready to negotiate

  4. #19
    Senior Member
    Join Date
    Sep 2009
    Bellville, CT


    I got prime plus 0.5%, currently sitting at 9.75% (ABSA). That was for a 100% bond loan in 2014.

    In the mean time I have put in numerous lump sums, going to try and see if I can negotiate with them to bring it a bit down.

  5. #20


    1) ABSA bought in '06, quite a small loan (small flat in not too popular an area), very small deposit (bout 5%), got prime -1.25
    2) FNB bought in '11, 95% loan - average amount (large flat in a popular area but not very fancy), prime + 0.5%
    3) FNB bought this month, 90% loan, large amount (large house, fairly expensive area), prime -0.25%

    Friends of mine got prime -0.75% from FNB, their loan amount was almost a third of mine though so I'm not sure how they make these decisions.. unfortunately we had hit the 72 hour clause in purchasing our new house (someone else was going to buy it cash) so had no time to negotiate.

  6. #21
    Super Grandmaster SlowInternet's Avatar
    Join Date
    Oct 2006


    Mine is at FNB and is prime.

    Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first.
    - Ronald Reagan

  7. #22


    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.
    You can't fix crazy by abandoning reason. Then you're both just crazy people screaming at each other.

  8. #23


    Quote Originally Posted by tk123 View Post
    I bought a house in November, First offer was prime +0.5 (9.75), I went back and forth between ABSA and FNB and eventually got Prime - 1 (8.25) from ABSA

    Ditto. 'cept I bought a year ago.

    Previous Bond (taken out in 2005), had Prime less 1.8%.

  9. #24


    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?

  10. #25


    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...
    You can't fix crazy by abandoning reason. Then you're both just crazy people screaming at each other.

  11. #26


    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.

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