About SA Home Loans
Are you a bank?
No we are not a bank. We compete with banks, as we offer an alternative. We're a specialist mortgage provider using safe and secure, but innovative new ways to offer a range of home loans to our clients. Banks get their funding for home loan finance from wholesale and retail money and capital markets and lend the money to consumers. SA Home Loans (SAHL) is different. We link you directly to the capital markets via a non-bank concept called securitisation and pass the savings on to you. Your security is exactly the same as with a bank as your home is registered in your name at the Deeds Office.
Are you a mortgage originator?
No we are not a mortgage originator. Mortgage originators operate like insurance brokers. Mortgage originators get home loan offers from various financial institutions on your behalf. The financial institutions pay the mortgage originators a fee for finding them new clients. This is not what we do. We are the financial institution that provides you with the home loan directly, and services you as our valued client thereafter.
How does SA Home Loans operate?
SA Home Loans offers a fresh alternative to South African home owners. We’re mortgage specialists who are 100% focussed on offering innovative home financing that stays in tune with your lifestyle and your changing needs for the life of your loan. We take the time to find out your needs and we work with you to find the right product options for your unique needs. Plus we offer related home products such as home owner’s cover and bond protection cover. In a nutshell, we’re risk free, innovative mortgage specialists.
Where are your branches?
We have 19 branches in main centres across South Africa. Here’s a List of Branches. You can call one of our specialist consultants on 0860 2 4 6 8 10 or you can have someone come to you if you prefer. Just ask a consultant to arrange an appointment for you.
What is securitisation?
For the first time in South Africa, and launched first by SA Home Loans in 2001, an alternative method of funding has been designed to by-pass traditional intermediaries (the banks), and link borrowers directly to the capital markets. This non-banking concept is that of securitisation, a globally established means of funding. SA Home Loans has launched eleven Residential Mortgage Backed Security (“RMBS”) term funding structures over the last ten years, with a collective value of R20 billion. The creditworthiness of each is fully evaluated by rating agencies. There is absolutely no risk for home owners. Properties are registered in the client’s name and are therefore legally owned by the client. The securitisation loan pools are housed in a Special Purpose Vehicle (SPV) that is ring fenced and insolvency remote – meaning no risk to the home owners.
Do you have internet accounts?
Yes we do. You can login securely and monitor your bond with SA Home Loans at any time.
How do I change my home loan to suit me?
Simply call one of our specialist consultants on 0860 2 4 6 8 10 and they will explain everything. They will explain the best options to suit your circumstances according to your qualification criteria. And once you have provided any additional documentation necessary they’ll take care of all the paperwork for you.
What is your interest rate?
Our interest rate is linked to the JIBAR rate and each client’s interest rate is worked out, based on the loan to value ratio, the size of the deposit and each client's credit profile. When you apply and anytime during the term of your loan you can discuss the best option that you qualify for at the time.
What is the JIBAR rate?
The Johannesburg Interbank Agreed Rate (JIBAR) is a 3 month deposit rate. It is a South African money market rate which is determined by a number of local and international banks, and updated on a daily basis. This rate is published each day by 11h00 on Reuters on the SAFEX page. Our base funding is JIBAR – which is a widely published banking rate. For our variable loans, we reset your rate every three months, if JIBAR changes. To arrive at your total interest rate, we add to JIBAR our margin (link) rate. This margin is determined by your risk and eligibility criteria, and is agreed with you at the time of approving your loan.
How do I know my money is safe with you?
SA Home Loans is a specialist mortgage provider which uses an established and accepted means of funding in other markets all over the world. Your security is exactly the same as with a bank, as your home is registered in your name at the Deeds Office. And SA Home Loans have substantial shareholders such as Standard Bank, Public Investment Corporation (representing the GEPF) and the Bolatja Hlogo Consortium; we are solidly profitable and have over 100 000 satisfied clients.