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Home Loans |
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With us, your dreams will find a home
There will come a time, when you want to own a place
that you call home. It might be because you’re
planning to start a family, your family is growing,
or to reduce the costs of renting. Whether you are
building your own home or buying an established
property, you are investing in your future wealth
and security needs. Your home could well become the
foundation of financial independence for you and
your family, and is normally an experience that
should result in an exciting change in lifestyle.
At Nedbank Lesotho we are committed to helping you
with all the support and assistance you will need.
We are also dedicated to managing your home loan
with you for ease.
Our Personal Bankers will advise you on how to go
about getting a Home Loan, and also on what to look
out for when making this life changing decision.
Making the decision
A house is an important long term investment and
like any investment you would like it to add value
to your life, and to have a good return. In making
the decision to buy or build a house there are key
points that you should consider:
1. Obtain as much information as possible prior to
making this decision, including trends in the
property market, best places to buy or build,
requirements and provisions for financing, and
opportunities for restructuring your home loan for
further investments.
2. In applying for finance ensure that you obtain
the best advice. When it comes to financing your new
home, Nedbank will be by your side throughout as
your reputable advisor and banking partner.
3. As a conscientious financier, Nedbank stipulates
that your monthly home loan repayment should not
exceed 40% of your individual or joint net monthly
income. This is so that your home loan is easy to
manage and live with.
Requirements for Home Loans
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"with us, your dreams will find a home" |
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• Buying an Existing House
1. Offer to Purchase / Sell a House
2. Certified copy of a valid Passport
3. Proof of income e.g. payslip
4. Confirmation of employment stating terms and
conditions of employment
5. Deposit of at least 10% of total loan amount
(For bonds in excess of M 1 million, higher
deposit may be required)
6. *Valuation of the property (valuation should
not be older than six months)
7. Approval from the owner of property that
allows access to Bank Valuators to do their own
valuation of the property.
8. A lease document in the name of the seller
for *Bond registration Purposes and change of
ownership (Applicable after loan/finance
approval)
9. Home Loan application form.
10. Life assurance policy equivalent to the
required loan/finance.
11. House owners insurance
• Building Loan
1. Proof of stand purchase (Lease)
2. Approved building plans and building permit
3. Certified copy of a valid Passport
4. Proof of income e.g. payslip
5. Deposit of at least 10% of total loan amount
(For bonds in excess of M 1 million, higher
deposit may be required)
6. Three quotations from different contractors
7. Homeloan Application Form
8. Permission from applicant for the bank to
enter site from time to time to do evaluation
9. Life assurance policy equivalent to the
required loan/finance.
10. House owners insurance (on completion of
property)
* For a building loan applicant must use a bank
approved valuer and assessor
* Legal costs for bond registration are at cost
to client, and will depend on the value of the
loan
Moving into your new home
When you’re ready to move into your new home, at
Nedbank we recognize that there are special
items and furniture that you may want to
purchase for your new home, to give it that
personal touch. To help you through this time,
you can consider a Nedbank Personal Loan, or an
Overdraft facility on your Nedbank cheque
account.
Throughout; your decision to buy, application
and approval of your home loan, and getting into
your new home, Nedbank will partner with you
for:
• Completing all the necessary documentation
timeously;
• Ensuring that your home loan is processed in a
professional and efficient manner;
• Assisting you to effectively manage and
securing your home loan as a long term
investment, and to grow should the need arise
So, when your life changes and the time is right
to buy or build a new home, consult your nearest
Nedbank Branch or call +266 22312696.
Terms and conditions apply |
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