Further Lending

Choosing a home loan provider is as important a decision as buying a home. It is important that your home loan provides you with future opportunities as your lifestyle and needs change. That’s why you’ll want to make a choice that’s going to suit your needs now and in the future.

Further Lending Options

Borrowing against your home is usually your cheapest source of finance. Want to improve your home? It may be better to renovate your existing home rather than incur the costs and stresses of buying a new home.

The following are our further lending options which are available to existing SA Home Loans clients who want to access increased equity in their property:

Re-Advance^*

If you need cash in a hurry, you can apply for a re-advance. A re-advance is done when you wish to re-borrow any portion of the total capital amount that you have pre-paid (i.e. paid by you in excess of the required instalments and not re-advanced before that time) ^**.

If you would like to apply for a re-advance, here is the process that needs to be followed:

1. Contact the Client Services Helpdesk and request an application form.
2. Complete the application and email/fax it through to Client Services: Further Lending.
3. Client Services will review the application and if necessary forward it through to Credit for approval.
4. If the application is approved, the funds will be transferred to your debit account.
5. The above process usually takes 24-48 hours.

NOTE

^** The amounts must be equal to or greater than R10 000 each and shall be made no more than six times during any 12 month period.

Further Advance^*

A further advance is the amount available to you up to the existing registered bond amount.^**

If you would like to apply for a further advance, here is the process that needs to be followed:

1. Contact the Client Services Helpdesk and request an application form.
2. Complete the application and email/fax it through to Client Services: Further Lending, together with all supporting documents.
3. Client Services will review the application and forward it through to Credit for a decision.
4. If the application is approved, you will be required to sign a Schedule to Loan Agreement, Loan Agreement and Quotation.
5. Upon receipt, the funds will be transferred to your account.
6. The above process usually takes 5 working days.

NOTE

^** The amounts must be equal to or greater than R10 000 each and shall be made no more than six times during any 12 month period.)

Further Loan^*

A further loan is processed when the amount requested by a client exceeds the current registered bond amount. The further loan is registered at the Deeds Office.

If you would like to apply for a further loan, here is the process that needs to be followed:

1. Contact the Client Services Helpdesk and request an application form.
2. Complete the application and email/fax it through to Client Services: Further Lending, together with all supporting documents.
3. Client Services will review the application and forward it through to Credit for a decision.
4. If the application is approved, the client will need to wait until the loan has been registered in the Deeds Office before the funds are paid out. This can take up to 6 weeks. If you have applied for Quick Cash and this has been approved, then a portion of your monies can be paid out earlier.

^* All further lending options will be subject to our Standard Terms and Conditions.