About Standard Bank Home Loans
For many of us, a home is the biggest and most significant investment of our lives. It’s more than a roof over our heads, it’s where we raise our families and create precious memories. Standard Bank offers you the ability to take a home loan with a great interest rate and the ability to pay it off over a period of up to 20 years.
Features of buying your first home with a Standard Bank home loan:
- You can apply on your own or with a partner as long you and your partner have not owned a property.
- You may qualify for a loan of up to 104% of the value of the property, provided the loan amount does not exceed R 1 million and depending on your affordability and risk profile. The “extra” 4% may only be used to pay the transfer and bond registration costs.
- You can repay your loan over 20 years.
- Competitive interest rates.
- Loans are available to private individuals only – you cannot register a loan in the name of a trust or other legal entity.
- Credit life insurance may be needed – this covers payment of your home loan in the event of death, dread disease, permanent disability or retrenchment.
If you are a first-time homeowner, it’s very important to make sure that you take out the right home loan that will not only fit your needs, but also suit your available budget. You need to make sure that you will be able to repay your home loan every month and that you’re aware of all interest and fees that will be payable in total.
Applying for a Standard bank home loan is easy and you can do so either by visiting their website online, or phoning in to speak to a consultant will take you through all the steps of your application. Good also visit one of the many branches nationwide.
