A Nedbank home loan is your key to outstanding levels of financial freedom and flexibility, offering you a range of products and options that can be structured around your individual loan requirements.
If you apply for a Nedbank home loan or move your existing bond to Nedbank between 20 August and 31 October 2007, you will be entered into a lucky draw in which three lucky clients stand a chance of winning R100 000 each.
A Nedbank’s home loan could make for a beautiful change
If you are one of the lucky winners, we will open a NedTerm Deposit Account for you, and you will then get to choose the change you would like to make to your home.
- You can have a team of professional designers meet with you to explore all the decor possibilities you can imagine. Whether it’s revamping your kitchen or putting in a sparkling pool, buying top-of-the-range appliances or creating the living room of your dreams… with R100 000 to spend, your wish is the design team’s command;
- You could choose to place the funds into your bond account, which will be saving you interest in the long run. Take advantage of our switching offer!
- We’ll pick up the switching costs! Leave all the legalities in the hands of our panel of selected attorneys, and we’ll waive the fess.
The covering of these costs is subject to the use of a Nedbank-approved attorney allocated to this campaign. Should you elect to use any other attorney, costs will not be covered by Nedbank and will be for your account.
This month has been an eventful one, through media reports; we have captured the episodes that have occurred in the home loans industry for this edition. This has been a suspenseful month starting with the coming to effect of the NCA and the aftermath of it.
The effect of the National Credit Act (NCA) is still being evaluated, but has seen a loss of millions of rands for South Africa’s financial institutions; this is brought by the slower application rate of home loans. Naamsa (National Association of Automobile Manufacturers of South Africa) has reported 21% decline of vehicle sales during June compared to last year at the same month. So what’s next?
However, the NCA has also had a positive effect on property rentals and this segment is benefiting from the effects of the Act. As the housing market is settling into a new cycle of demand, the rental market is doing well. This is due to the burdensome process of obtaining a mortgage and financing of higher – a segment house. Residential property price growth is again on a declining trend, with the nominal year-on-year house price growth of 14,9% recorded last month, according to the house price index. Meanwhile, house prices show that the lower-end of the housing market was still surging ahead with price inflation of above 40% year-on-year in February this year.
Building confidence has rose to near a record peak in the second quarter of the year, reflecting a boom encouraged by public spending and the demand for affordable housing. The construction sector is playing an increasingly vital role in the economy of the country.
The Estate Agency Affairs Board (EAAB) has launched the National Qualification framework training modules to address problems of professionalism and improved business skills. The township property boom has not enjoyed by the black estate agents due to the lack of marketing skills and tight budgets. This training module will ensure that the estate agents reap the rewards of the boom; they are able to create a presence in their locations and take advantage of the low-cost housing demand.
But with the stories that have been reported, it is evident that the entire picture of the NCA is not clear yet, even though the effects are becoming visible.