Capitec home loans South Africa
Capitec Bank has applied its ‘simplicity approach’ to its offering of home loans.
Through its home loan providing service Capitec has a partnership agreement with SA Home Loans to sell its home loans in Capitec branches‚where SA Home Loans has the necessary support infrastructure.
Their home loan product is the same as that which is currently offered by SA Home Loans and is available to new bond applicants as well as Capitec clients with existing home loans, who would like to switch their bond to SA Home Loans.
Capitec’s in branch consultants will assist with the application and initial approval process where thereafter you will be contacted by a dedicated SA Home Loans consultant within one business day to guide you through the full evaluation and registration process.
You can apply for home loans of between R100 000 and R5 million. The home loans are available to customers and non-customers of Capitec and if you are a successful applicant expect your approval to be made within five working days.
Capitec decision to provide home loans was from the bank’s need to offer home loans and vehicle finance in its branch network, as reported in ‘Business Day’.
As well as an answer to market demand of catering to borrowers for houses that cost R350 000 and below. And also as a response to their customers requiring that Capitec provide the same ‘simplicity approach to their home loans’.