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Standard Bank Home Loans

Payment Holiday

It gives you a three-month break from making your home loan repayments.

Who can have it?

Going on maternity leave.
A contract worker.
Going to take up the offer over the festive season.
A first time home owner.**

** Conditions Apply **

How does it work?

The installments that were due during the holiday period will need to be repaid over the remaining term of the loan.
You can cut your payment holiday short by advising Standard Bank in writing.

Fully Guaranteed Lending

It is a means by which you can buy, build or improve your home. Or it is a way for an employer to improve his/her range of employee benefits.

Who can have it?

A low income earner who would not usually qualify for a home loan.

How does it work?

A Fully Guaranteed Loan is a way of financing a home through a retirement fund rather than a mortgage bond.

Access to housing finance is secured by the member's available withdrawal pension or provident fund.
Finance is guaranteed as long as the employee's pension or provident fund is sufficient to provide collateral.
In certain cases you can borrow up to 80% of the value of your retirement fund withdrawal benefit. Interest rates are competitive.
The normal costs associated with mortgage loans are applicable.
Fixed repayments with loan rescheduling accommodate interest rate charges.
Monthly payments are deducted directly form the company's payroll.
Monthly installments are restricted to no more than 25% of your net monthly income.

Business Mortgage

A loan to help you buy a residential property to use as business premises.

Who can have it?

Attorneys
Doctors
Accountants
Consultants
Dentists

How does it work?

They offer you competitive pricing with no hidden costs.
The repayment period can be up to 20 years.
The loan can be up to 80% of a property's assessed value.
You can also get finance for additions and alterations.
You can link it to AccessBond facility.
While sub-leasing is allowed, a Business Mortgage is not intended to be used to buy investment property.

Accessbond

A money management facility which allows you to deposit money and withdraw surplus funds from your home loan account to other linked accounts.

Who can have it?

Anyone with excess funds available to pay into their home loan who might want to withdraw the funds at a later stage.

How does it work?

There are two options:

AccessBond limit option, gives you the option to withdraw funds up to the original loan amount.
AccessBond linking facility, which gives you an unlimited number of deposits into your home loan account.
No limit of the value of your deposits.
Immediate access to funds transferred through an AutoPlus machine or Internet Banking.
The option to transfer excess funds from your home loan account in multiples of R1000.00 up to three times a month.

Readvance

It gives you access to funds that have been paid on your home loan.

Who can have it?

You can have it if you have funds available in your home loan account.

How does it work for you?

Readvance is an advance on your existing home loan up to the full assessed value.

A new bond will not be registered, but the property will be re-assessed.
A detailed quotation, approved plans and proof of income need to be provided.

FurtherAdvance

A second bond on your property.

Who can have it?

If you have a home loan and need additional funds for renovations or improvements, a further advance will make your bond work a second time for you.

How does it work?

A second bond is registered over your property.

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