Old Mutual Home Loans

Old Mutual Home Loans

Old Mutual is one of the biggest and most well-established financial services providers in South Africa, offering a range of services and products that include general home loans, insurance, life assurance, healthcare, asset management, investment and banking.

It prides itself on offering financial services solutions designed to meet the needs of its clients through its collective expertise, years of experience servicing the South African market and its highly motivated, trained and value-driven staff.

Old Mutual`s client base includes individuals, businesses, corporations as well as institutions throughout South Africa. It also boasts a comprehensive social investment responsibility program to ensure it `gives something back` to the communities in which it operates.

Why Old Mutual Home Loans

Old Mutual Bank offers a range of home loans that are ideally suited to the South African market which can be incorporated into its clients` overall financial plans as investments.

In fact, Old Mutual clients can switch their existing home loan from their current bank or mortgage originator to Old Mutual Bank and enjoy potential savings over their bond repayment period.

Old Mutual offers 3 Home Loan Products:

Old Mutual Bank Home Loan - This is Old Mutual`s core home loan product which offers a variety of flexible options so that clients can `tailor make` it to suit their specific needs. Client`s can use this home loan to purchase any residential plot or property, and the maximum term to pay off this home loan is 30 years.

Clients` monthly repayments on this home loan can not exceed 30 percent of their gross household monthly income and the interest rate they qualify for will be determined once the home loan application has been approved.

StarterBond - As its name suggests, this Old Mutual home loan option has been designed to suit the needs of first-time homebuyers, so it is both affordable and flexible. For instance, if clients cannot afford to pay the property registration and transfer fees, these cost can be added to their home loan (up to 108 percent of the property value).

In addition, Old Mutual`s StarterBond offers a Deferred Payment option, where clients can start their home loan repayments up to 4 months after their bonds have been registered. The maximum term for a StarterBond is 20 years and the minimum loan amount is R100 000.

ICE StarterBond - This is a home loan designed to allow young people to `get their foot in the property door` and as such boasts a range of features to enable its young clients to successfully acquire and pay off their properties. These include a bond of 108 percent to cover all home loan, transfer and bond registration fees.

In addition, Old Mutual`s ICE StarterBond allows clients to defer their repayments for a specified period as well as enjoy a fixed interest rate for up to 18 months. The minimum loan amount is R100 000 and maximum repayment term 20 years with this home loan.

Old Mutual Home Loans Convenience

For any advice on Old Mutual Home Loans, prospective home buyers can call an Old Mutual Financial Adviser, their insurance broker, or alternatively visit any Old Mutual Bank branch throughout South Africa as well as call its national Call Centre for helpful advice and quick service.

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4/18/2008 2:46:28 PM