Urban home loan
Buying a home can be complex and stressful, and finding extra money to pay a deposit and costs can be daunting. Let us help you with an urban home loan.
What does it offer me?
- Highly competitive interest rates.
- Loan to value of 90% of the property.
- Loans are approved within three business days, subject to submission of completed application documentation.
- Repayments calculated over 25 years depending on the age of the customer.
- The minimum property value on which we may provide a loan is E100,000.00
- We finance up to 90% of the valuation.
- You will need to pay transfer and bond registration costs.
- Repayments not to exceed 33% of net salary (depending on your credit profile).
- If you have a vehicle financed with Standard Bank and wish to acquire property finance, repayment may not exceed 50% of net salary.
- Consideration is given to the joint income of customer and spouse.
- Both short-term and long-term insurance is available.
Who may apply?
You may apply for an Urban home loan provided you:
- Have been with the same employer for at least 12 consecutive months.
- Give us a letter of introduction from your employer or a copy of your letter of employment if you have been with your employer for less than 12 months.
- Provide us with your last three months' pay slips.
- If you work on a contract basis, we need a copy of your most recent contract.
- Earn a monthly net salary of minimum E5,000.00.
- Your salary must be paid into your Standard Bank account.
What do you need to apply?
To apply for a home loan visit your nearest Standard Bank branch with the following documents:
- Proof of residence (utility bill).
- The deed of sale.
- A rates clearance certificate.
- Completed home loan application form.
- Declaration of applicant and authority for trustees to make further enquiries.
- Confirmation letter from the chief’s kraal stating right to occupy land if it is on Swazi National Land.