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Standard Bank Home Loans

Standard Bank Home Loans

Standard Bank offer a wide variety of home loan options:

Pledge
Jumpstart
DreamStart
SecuraRate
Payment Holiday
Fully Guaranteed Lending
Business Mortgage
Access Bond
Readvance
Further Advance

Pledge

In simple terms, this is a pre-approval certificate, which is a way of approving your loan before you start house hunting.

Who can have it?

anyone who wants to know that their home loan will be approved, and for how much, before they look for a new home.

How does it work?

A pledge is confirmation of your ability to buy a particular property.
Is valid for six months from date of issue, providing your personal details don't change.

** Conditions Apply **

JumpStart

JumpStart gives first time buyers the opportunity to buy a home even if they can't afford the deposit and upfront costs.

Who can have it?

Anyone who wants to buy a home for the first time and has an income of more than R6000.00 a month.

How does it work?

You get the following options:

Variable rate. You enjoy the flexibility of a fluctuating rate while also including the costs of the loan.
Fixed rate. You have the assurance that your interest rate will not increase for two years.
Three-month payment holiday. You pay your first installment three months after registration.
Variable rate with compulsory life, disability and retrenchment cover.
Interest rate discount. This option offers an attractive interest rate, depending on the deposit you put down on your home.
Some of the loan options include transfer duty, bond costs and initiation fees.
JumpStart offers a higher loan to assessed value of your property in that a loan to value of 108% is allowed.

DreamStart

A home loan for low income earners.

Who can have it?

If you want to buy or build your first or second home and your family has an income between R1500.00 and R6000.00 a month ( excluding house subsidies ), the DreamStart is for you.

How does it work?

Your loan will be based on your circumstances You will be rewarded if you meet your monthly payments by getting a better interest rate.
Up to 100% of your loan can be granted. Your loan can be supported by 20% collateral from your employer or other sources, or cover can be arranged.
You will be able to use AccessBond facilities once the balance owing on your bond is less than 80% of the value of the property.
You can deposit extra funds into your home loan account at any time. This will save your interest and reduce your loan term.

SecuraRate

A way of protecting you from interest rate fluctuations by fixing or capping the rate on your home loan.

Who can have it?

Anyone who is thinking of taking out a home loan, or who has a home loan, and is concerned about interest rate volatility. This will give some protection against interest rate increases.

How does it work?

There are two options for you to choose from:

Fixed rate - Your home loan interest rate is set at an agreed, predetermined market-linked rate.

The rate is set for an agreed, defined period - 12, 18 or 24 months

Capped rate - Your interest rate is capped at a maximum interest rate for a specified period.

You will need to pay a premium for the additional benefit of this flexibility. depending on the term of this option (12,24,36 or 60 months ), the premium can be paid either monthly or upfront.
The interest rate on your home loan will not increase above a set maximum rate, that is, the capped rate. However, you will enjoy the benefit of any interest rate decreases.

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