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Nedbank Home Loans: solutions to suit everyone
So you’ve found the house of your dreams at last! It’s perfect and you know you can afford it and you can’t wait to move in. But you’re not too sure about what kind of home loan you need or want. There seem to be so many options and you really don’t want to choose the wrong one, after all this is big decision and it’s important to make a choice you can live with. You don’t really need to look any further than Nedbank home loans. They really do understand that customers are different and have different needs expectations and bank balances. A look at two current Nedbank home loan offerings makes it clear that they are bound to have a solution that you will like and be able to afford: the Ordinary home loan and the Alphabond.
The Ordinary home loan is really accessible; you need a minimum income of R2 500.00 a month between you and your partner (or just on your own of course) and your property can be as expensive as you can afford (but it must cost at least R70 000.00. The only real criteria here is that this specific Nedbank home loan product is targeted at buyers who can afford to pay the property transfer and registration fees in cash. And if you can you can get all the benefits of this Nedbank home loan solution. These include facilities like Readvance and Nedrevolve. The first allows you to make extra payment into your home loan, either every month or just when you can; and, the second allows you to draw on these extra deposits or simply use it as to earn interest-free savings. Either way, these features of Nedbank’s Ordinary home loan give you enormous flexibility.
The second Nedbank home loan opportunity worth a look is the Alphabond which is made for those customer who do not have the up front cash to pay the registration and transfer costs related to their home loan. It offers many of the same or similar benefits as the ordinary home loan but here you have a choice between a 108%, and a 104% home loan. Each has their own advantages, the 108% option means you get guaranteed cash back and with the 104% choice you will only have to make your first payment in month four. In addition to Readvance and NedRevolve (if your bond is less than 100%) you will also have access to another Nedbank home loan facility, namely, Further Bond, which allows you to register an additional amount of money on top of your registered mortgage. The criteria to qualify are the same as for an Ordinary home loan except that you must be a first-time buyer and be able to show that you have stable employment in the same career for longer than two years.
Whether you’re a first-time buyer or have enough cash at hand to apply for an Ordinary home loan, Nedbank home loan solutions are bound to have the ideal solution for you.
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