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SA Homeloans

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SA Homeloans were the very first non-bank, discount South African home loans provider.

Latest SA Home Loans News: SA Homelaons ex CEO Simon Stockley has started a new home loan company called Integer. Integer, works on the same basis as SA Homelaons with securitisation being the main form of funding. They've also got a new product called Shari'ah-compliant securitisation which is aimed at targeting the Muslim sector.

SA Homeloans launched to South African home owners and the public in February 1999. It was a great time in South Africa as the interest rates were at an all time high of 23.5%.
It was a time where South Africans were forced to start saving and watching their credit spending.
What SA Homeloans did, was come in at an incredible rate of 19.6% offering home owners and incredibly "cheap" option in comparison. This was the start that SA Home Loans needed to kickoff their business.

SA HOME LOAN PRODUCTS

Varifix - 20-year fixed rate home loan that cannot go up but can still come down
Interest Only Loan - The the lowest home loan instalment available in South Africa today. The flexibility to pay only the interest on your home loan.

SOUTH AFRICAN HOME LOANS HISTORY

Historically, banks provided all the home loan financing in South Africa. They secured their finances and funding from capital markets and lent those funds to consumers against the security of homeloans. For this service they charged a margin on the home loan of between 3 and 5 %.

That's when for the first time in South Africa SA Homeloans launched in early 2001. They were the first alternative method of funding and had been designed to bypass your traditional banks. What they would do is link lenders directly to the money markets i.e. the securities exchange. This non-banking concept is called securities, a very well known globally accepted means of funding. In America, 40% of all home loans and homeloan lending is securitised.

S.A homelaons although a massive force in the home loan industry only have a few offices and branches countrywide. They have home loan office in Pretoria. They have a home loan office situated in Johannesburg and they have an office situated in Durban. With those three makor cities they manage to run their South African home loan franchise.

SA HOMELOANS - How they work!

SA Homeloans have the reputation of having the lowest interest rates out there...
The question is, how do SA Home Loans get this right?

SA Homeloans don't rely on the low interest rates that the banks offer. Their funding comes from something called the JIBAR rate. This rate is the 3 month inter bank rate. This is the average rate at which South African banks buy and sell money. It's is calculated by SAFEX on the securities exchange as the average rate quoted by the various major banks in South Africa.

The rate normally sits at around 9.1%. What this means, is that SA Homeloans are able to buy money at a rate of 9.1% thereby allowing them to offer people loans and mortgages at a rate that's just that much LOWER than those of the banks. In actual fact they should (and I stand to be corrected) be able to offer rates at 2% lower than the banks can offer you.

S.A. Homeloans News

THE SA HOMELOANS CATCH

It's not all great though and SA Home Loans aren't always the correct option to go for! Check out SA Home Loans pitfalls and why they're not all peaches and cream!

SA HOME LOAN BRANCHES

Pretoria Home Loans Sales Office - Bank Forum Building, 337 Veal Street, Brooklyn, Pretoria, South Africa
Durban Home Loans Sales Office - ABSA Building, 43 Armstrong Avenue, La Lucia, 4051, Durban, South Africa
Johannesburg Home Loans SA Loans Office - Block West, 1st Floor, Pineslopes Shopping Centre, Cnr Witkoppen & The Straights, Pine Slopes, Fourways 2055, Johannesburg, South Africa

SA Homeloans bond application

Other bond originators include:
Bond Choice
Mortgage SA and Pam Golding
Loanlink Broker Services
Wizard Home Loans