Ordinary Home Loan

Ordinary Home Loan

Nedbank's Residential Home Loan is a flexible Home Loan that can be tailored to suit your individual needs. It can be used to finance the purchase of an established residential property or to purchase a vacant piece of residential land for development.

The Ordinary Home Loan can also be used to finance significant structural improvements to your existing home.

Required documents?

Fully completed Home Loan application inclusive of Income and Expenditure and Assets and Liabilities
Copy of Identity Document/s
Copy of Offer to Purchase, except where no sale is taking place
Latest 3 Months Personal bank statements
Where Maintenance/Alimony to be taken into consideration as earnings - Latest 3 Months bank statements must reflect the maintenance/alimony payments and a copy of the court order is required
Where client rehabilitated/Proof of insolvency rehabilitation (Rehabilitation Order) required
If Endorsement 45 (COP) or 57 (ANC):
- Divorce/Decree of divorce
- Deceased/Death certificate
Salary earners:
- Latest salary slip or Letter confirming income - if commission forms part of earnings then 3 months salary slips or commission schedules are required
Self Employed:
- Latest 6 months Business Bank statements for Non-Nedbank clients
- If applying in the name of a Individual, Joint names or Trust:
  - Latest financials/management accounts
  - If Trust: the Trust documents
- If applying in the name of a Company:
  - Latest audited financials
  - Company documents
  - Auditors letter
- If applying in the name of a CC:
  - Latest financials
  - CC Documents
  - Auditors letter

Features

Repayment term of up to 30 years
Fixed or variable interest rate options
Re-Advance option to access capital up to the registered amount
A further loan option is available depending on affordability up to the latest valuation amount
NedRevolve facility to access surplus funds paid into the bond account
Nedbank Accelerated Payments that allows clients to pay off their home loans quicker
Home Owner's Insurance cover on freehold homes - property to be insured the full insurance replacement value
Loan Protection Assurance required for loans of R350 000 and below


We have compiled a list of quick links to help you find your way quicker.




Clients with a minimum income of R2 500 per month (single or joint gross monthly income) Minimum property value of R100 000 Clear credit record Clients will be assessed for affordability in terms of the National Credit Act Approval subject to Nedbank's credit qualifying criteria and property valuation




Are 100% loans available on an ordinary Home Loan? What is Nedbank’s policy regarding the purchase of vacant land? What makes up my monthly instalment? What documents must l submit to the bank with my application form? more




How much will my bond cost me monthly? Lump Sum Calculator If I pay extra every month? How can I pay off my home loan sooner? I want to shorten the time in which my Home Loan is paid. Percentage Increase

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National Credit Act

Nedbank Ltd Reg No 1951/000009/06. We subscribe to the Code of Banking Practice of The Banking Association South Africa and, for unresolved disputes, support resolution through the Ombudsman for Banking Services. We are an authorised financial services provider. We are a registered credit provider in terms of the National Credit Act (NCR Reg No NCRCP16).

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