Standard Bank Home Loans
Standard Bank is a South African financial services company with a global presence, that includes operations in 38 countries around the world, 17 of those on the African continent. Apart from its core focus of banking, Standard Bank also offers two home loan products aimed at South African home buyers.
The following two home products offered by Standard Bank Home Loans are aimed at entry-level home buyers:
DreamStart Home Loan
This Standard Bank home loan is aimed at making home financing more easily accessible to lower income bracket people, or home buyers earning between R1500 and R6000 per month on a single or joint income, excluding housing allowances or subsidies.
Features and benefits associated with the DreamStart home loan include Life Assurance, Repayment Methods, Special Interest Rates and an AccessBond facility.
People who want to take advantage of the DreamStart home loan can visit specially trained consultants at specific Standard Bank branches or alternatively call Standard Bank on its toll free telephone number.
JumpStart Home Loan
This Standard Bank home loan is aimed at giving home buyers the opportunity to buy a home in circumstances where they cannot afford to put down any type of deposit or any other up-front costs.
The idea is that `cash-strapped` home buyers can apply to Standard Bank for a JumpStart home loan which can be authorised to offer them a maximum Loan To Value (LTV) of 108 percent, in order to cover the necessary costs up-front such as the deposit, transfer fees and bond registration fees.
In essence what differentiates the JumpStart loan is that it includes the up-front costs that home buyers would usually put up themselves, allowing economically challenged South Africans the opportunity of buying and paying off their first home.
There are various JumpStart options available in line with Standard Bank`s product and service flexibility.
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