Nedbank home loan offerings are tailored to meet the diverse needs of homeowners, with a suite of customer value propositions (CVPs) that cater to various segments of the market.
Nedbank offers a wide range of benefits for first-time homebuyers, aiming to make the journey to homeownership more accessible and affordable. One of the standout offers is the potential for a home loan of up to 109% of the property's purchase price, which can include coverage for attorney bond registration and transfer costs. Qualifying clients may also receive a 50% discount on attorney bond registration fees, further easing the financial burden of purchasing a home. These initiatives reflect our commitment to supporting first-time homebuyers in navigating the often-complex process of buying a home.
Nedbank's renewable energy offer is a forward-thinking initiative that allows homeowners to finance solar energy solutions through their home loan. This innovative programme not only provides a convenient way to save on monthly electricity bills but also promotes sustainable living. Homeowners can apply for a new home loan of up to 110%, using the extra funds to cover the cost of the energy solution. Additionally, we offer the option to use available funds in a NedRevolve facility or request a further loan on an existing bond. For those without a home loan, we provide solar energy asset finance over a period of up to 96 months at competitive rates. We also support the installation of smart geyser management solutions, enabling clients to manage their geysers remotely via an app, further contributing to energy savings. With a commitment to green living, our renewable energy offer is not just a financial product but a step towards a more sustainable future.
To reward client loyalty and encourage a comprehensive banking relationship, Nedbank offers a loyalty rate benefit and a main-banked rate benefit, which provide preferential interest rates to clients who use Nedbank as their primary banking institution. When purchasing an additional or your next property, loyalty rate benefits can be a significant advantage. For instance, we offer various home loan solutions that include favourable rates for existing clients (up to 50 bps off) that can result in substantial savings over the term of the loan. Moreover, the process of applying with us is streamlined for existing clients, which can make acquiring a second home less daunting.
Switching your home loan to Nedbank can offer several financial benefits and opportunities. By transferring your mortgage, you may access the equity in your home as cash or enjoy reduced interest rates, leading to lower monthly repayments. We also provide the option to extend the loan term up to 20 or 25 years, potentially decreasing your payments further. While there are costs associated with switching, such as legal fees and a loan initiation fee, we offer qualifying clients the option to cover all costs associated with switching. It is, however, important to notify your current lender to avoid early termination fees being charged.
Nedbank offers a digital incentive for home loan applicants, providing a 1% cashback of up to R20 000. This offer is available to clients who apply online and meet certain criteria. To qualify, applicants must submit their home loan application through Nedbank’s digital channels and Nedbank Contact Centre, which include their website and the Money app. Additionally, clients are required to open a Nedbank transactional account and have their salary deposited into it. Once the home loan is approved and registered, the cashback is credited to the client’s account. This initiative not only encourages digital application processes but also provides tangible financial benefits to clients, supporting them in their home-buying journey.
These CVPs demonstrate our commitment to providing value-driven, client-centric solutions that support homeowners throughout their journey, from the initial purchase to sustainable living and beyond. By continuously innovating and responding to the needs of its clients, we stand out as a financial institution that not only understands the complexities of the property market but also actively works to create opportunities for its clients to thrive.
