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Home Loans was launched in South Africa in February 1999 and has grown to be a specialist mortgage provider today. They offer South African applicants affordable rates and flexible mortgage options. It is known for its reasonable and competitive interest rates and fair service fees. When they started, they offered interest rates of 19.6% which was very low compared to established banks at the time. They were the first mortgage provider to offer rates below 10% in over 22 years. They won the Daily News’ Choice Award for Best Mortgage Lender in 2004 and 2005
Features:-
- Flexible, low and easy payment options
- It provides homeowner coverage and bond protection cover
- Safe and secure banking service
- User friendly customer service helpdesk
They offer a wide range of options.
- Factor
- Super Low
- interest only
- varifix
- Quick cash
- additional loan
- quick reset
- More re-advance
They now have 22 branches across the country and their head office in Durban. They implement a non-banking approach by connecting the customer directly to the money markets and transferring savings to them. This is also called securitization, and it is a widely accepted method of financing.
With their Bond Protection Plan, you and your family are protected from the possibility of repossession in the event of any unforeseen circumstances such as disability or death. You can cap your interest rate against higher interest rates. You can also borrow money against the increased value of your property, that is, you can borrow against a loan. You can easily get up to R75,000 in cash within 72 hours. With their Varifix, you can lock in the interest rate on your home loan and choose a portion of your home loan to fix.
There are a lot of innovative packages that they offer. It is worth a try as they are the largest non-bank mortgage lender in South Africa.
Source by Sonal Kaur
