The Loyalty Home loan program is specifically aimed at existing ABSA Home Loan customers selling their existing home and buying another property, which they intend to re-finance through ABSA. This type of transaction is called a “linked transaction”.
- Have an active ABSA home loan account
- Sell the property linked to that home loan account and cancel that loan
- Buy another property
- Apply for an ABSA home loan over that property
- 25% discount on the bond initiation fee
- 5% of the new loan amount with a maximum value of R6000 in cash paid back the customer on date of registration
- Get a pro-rate rebate on the early termination fee when cancelling your existing home loan (this penalty is up to 1% of the outstanding loan amount)
- Free ABSA Will available to the customer on acceptance of ABSA home loan quote
What does this mean? Savings of money and time!
- A saving of R1 25 on the NCA fee
- Up to R6000 back into your account to do with as you please (we recommend paying it straight into your loan account)
- To avoid early termination fees you must give the banks 90 days written notice of your intent to cancel the bond. This offer allows you to forego this written notice period and avoid any fee allowing you to decide on the spur of the moment. This time saving can be an important factor when looking for and purchasing a property.
- When you buy a new property you will need to update your Will and Testament anyway and you might have made a few big purchases that you want to add. A professional Will can cost as much as R2500.
Who is excluded from the deal:
- Affordable housing
- Temporary Residents
- Building loans
- ABSA Home Loans clients with MultiPlan facilities
Have any questions or want to take up this offer? Contact De Mink Property Finance and we will assist you immediately!