Find your perfect home with help from Standard Bank Home Loans
Standard Bank Home Loans – Buying a home is a big step and a great achievement and investment. One needs to make sure that they buy the right home at the right place. Owning a home also means that renting is a thing of the past and so is paying someone else’s bond. However getting the right financing can be stressful especially when one is a first time buyer and needs to know what goes into owning a home of their own. Standard bank offers the right products for people who want to own homes, no matter who they are.
Standard bank home loans are ideal for first or second time buyers, people renovating or building their home, operating a business from home or people looking for property in distress. Clients have the option of choosing variable or fixed interest rates with payment periods of over 20 years. First time buyers can qualify for a loan of up to 104% of the value of the property, provided that the loan does not exceed R1 million and depending on the client’s affordability and credit risk profile. The 4% may be used to pay transfer and bond registration costs.
Clients buying again may get a loan of up to 100% of the value of the property, depending on their credit risk and affordability while clients who want to use part of their home for business can get up to 80%. First and second time buyers may need credit life insurance in the case of death or disability. Clients must be over the age of 18 when applying for a Standard Bank home loan and must take out a home owners’ insurance policy.
Clients can also purchase property on auction or that has been repossessed by visiting www.myroof.co.za/standardbank to view available property. First and second time buyers must earn a single or joint salary of at least R3 500 and clients using their homes for business must earn a single or joint salary of at least R6 000. Clients can apply online at www.standardbank.co.za or visit their nearest Standard Bank branch. For more information clients can call 0860 123 000.
