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Nedbank Home Loan

Nedbank Home Loan

Nedbank Home Loan – Buy the home you have always dreamt about by applying for a Nedbank Home loan.  Buying a home does not have to be stressful and Nedbank are ready to make this happen when you apply for a Nedbank Home loan.  Nedbank will help every step of the way on your journey to buy your home from understanding the costs involved and the application process.

Nedbank Home Loan Options

  1. Ordinary Home Loan

This Nedbank Home loan option provides a flexible loan that can be tailored to your needs. This loan is appropriate if you want to buy an existing property or make structural changes to your existing property. You are given up to 25 years to pay off your home loan with the option of either fixed or variable interest rate. When you get this loan you get Home Owner’s Insurance cover on freehold homes at full replacement value.

  1. HomeVision

This Nedbank Home loan option allows you to register a bond for higher than the purchase amount. As the name suggests this is ideal for those that have a vision of growing their family in a couple of years. You can have access to the additional funds once your property value and affordability increase. You get up to 25 years to pay off your loan with option of fixed or variable interest rates.

  1. Readvance

This Nedbank Home loan option gives you access to funds that you have already repaid on your loan and you can use the funds for whatever you want including such things as home renovations, school fees or for a holiday expenses. A readvance will increase the balance outstanding on your Nedbank Home loan and this will affect your monthly repayments as they will have to be recalculated accordingly.

  1. Futher Loan

This option is ideal if you want to make improvements to your home or if your property value has increased.  To get this loan you have to apply and in effect you will get a second bond which will be lodged with the Deeds Office. A further loan will increase the balance outstanding on your Nedbank Home loan and this will affect your monthly repayments as they will have to be recalculated accordingly.

  1. NedRevolve

This option is available to you if you have been paying more than the instalments on your Nedbank Home loan. You can get access to these surplus funds in multiple draws of up to R1000. What you use the funds for is up to you.

  1. Building Loan

This option is ideal for those who want to build their own home. You get up to 25 years to pay off your loan with option of fixed or variable interest rates. The building loan will get paid out as building progresses for work that has been completed  and Nedbank will monitor the building project to make sure your home is completed within a reasonable amount of time.

Requirements To Apply For A Nedbank Home Loan

The application process has been made easy by Nedbank and the process can be done online. The following documents are required when you complete the application.

  1. A Valid ID
  2. Proof of income
  3. Your Financial details – income, expenses, assets and liabilities
  4. A working email address
  5. Your banking details
  6. A signed offer to purchase if you are buying a new home

Watch the “How To” video below to show you what is involved in the application process.

For more information and to apply for a Nedbank Home Loan visit their website www.nedbank.co.za or call them on 0860 555 111.

NB. Visit Our Loan Calculator Here