Financing - Home Loan - Banks Supporting Documents - ABSA,FNB,STB,NBK

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Offer to Purchase 1st and Second Page , last page with signatures

Must be signed , dated and include all details of

Seller and Purchaser , Property descriptions ,

Estate agents

Full offer to purchase, To be signed by all

parties

To be fully completed and signed by all Parties

involved - Seller & Purchaser

Completed application

state guarantee to be provided, amount of the

guarantee to be equal to the loan amount to a

max of 125%.

Fully completed and dated , where possible it

should be signed by the applicant/s





Copy of Id/s By all applicants By all applicants By all applicants By all applicants

Assets and Liabilities

state guarantee to be provided, amount of the


max of 125%.

Signed and dated To be completed, part of application form To be completed, part of application form

Income and ExpenditureTo be completed signed and dated, salary

deductions must be annotated

To be completed signed and dated, salary

deductions must be annotatedTo be completed, part of the application form To be completed, part of application form

Bank statements

Latest 3 Months'. At least 1 month's

authenticated B/Stats (stamped ) With address

noted, if internet statements, the name and

account number, and stamped.

Not a pre-requisite , but FNB could call for them

if they need to.

latest 3 months, internet statements acceptable

as well

Latest 3 Months, over the counter or post but

must be stamped by the relevant bank( Non

Internet)

Unbonded Properties - Title deedThis will be seen as a NEW LOAN copy of title

deed to be provided

This will be seen as a NEW LOAN copy of title

deed to be provided


deed to be provided


deed to be provided

Age Limit 75 YearsNot older than 65 Years, and bond must be paid

up by the age of 75 Years65 Years 65 Years

Bonds to be registered in Name of a Company Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK3

Proof of income

Fixed monthly incomeLatest Payslip -Not older than 60 days from the

date of applicationLatest Payslip Latest Payslip Latest Payslip

Weekly payments Latest 4 weekly Payslips -Not older than 60 days Latest 4 weekly Payslips Latest 4 weekly Payslips Latest 4 weekly Payslips

Fortnightly PayersLatest 2 consecutive Payslips -Not older than 60

daysLatest 2 consecutive Payslips Latest 2 consecutive Payslips Latest 2 consecutive Payslips

Variable/ Commission EarnersLatest 6 Months' consecutive payslips - Not older

than 60 days.

Latest 6 Months' Consecutive Payslips. 50% of

average commission used for qualifying

applicant/s

6 Months Average used. Supported by salary

slips, 100% off average used.

Latest 6 Months' Consecutive Payslips. 50% of

average commission used for qualifying applicant

Employment Contract

Acceptable Proof if Income Provided that a

detailed breakdown of income and salary

deductions is supplied

Not acceptable, client must provide first

month's salary slip.







Handwritten Payslips Domestic workers / gardeners Not considered Not considered Not considered

IRP 5 May be called for at Credit's discretion May be called for at Credit's discretion May be called for at Credit's discretion May be called for at Credit's discretion

Cash Deposits not considered Not considered Not considered Not considered

Additional income

Rental income

Properties bonded with SBSA - full rental

income. Properties not bonded with SBSA - Net

income. Valid Lease Agreement and Rental

Schedule (date purchased , purchase price,

valuation , bonded at ? Bank, rental income,

repayment, net income, only the surplus will be

used as extra income.

The rental income must be from a FNB bonded

property or unbonded property, complete lease

agreements, and schedules, maximum of 50%

used as rental income.

12 Month Rental Agreement. In first 6 months

period only 50% used, in second part of 6

months 100%. proof of the rental income being

received on monthly basis for the past 3

months and 100% of the total rental income

amount declared will be used

Copy of Rental agreement - to be fully completed

& signed ( 40% of the rental income will be

considered), and should reflect on bank

statements for 3 months

Maintenance

A Divorce Court Order and 3 months b/stats

reflecting amount received, or garnishing order

reflecting on salary slip.

Do not use maintenance.







Interest on Investments

Acceptable , to be supported by 3 months

b/stats and letter from Company confirming the

Investment



Investment



Investment

Acceptable , to be supported by 3 months b/stats

and letter from Company confirming the

Investment

Income earning on Annuity/Pension



Investment



Investment



Investment

Acceptable , to be supported by 3 months b/stats

and letter from Company confirming the

Investment

Cost to company packages

65% to be applied to qualify the client, which

ever the higest,breakdown of income and

deduction letter to be supplied as well

100% may be used and will be assessed as per

Credit's discretion


Credit's discretion, breakdown on income and

deductions supplied


Credit's discretion, breakdown on income and

deductions supplied

Switch Statements 12 months statements required.

6 months latest Home loan statements.,

permission to be obtained beforehand, and

permission to switch form.

6 months latest Home loan statements.

Homebase

6 months latest Home loan statements.,

permission to be obtained beforehand, and

permission to switch form.

Housing allowanceHousing allowance as per payslips. If it is variable

, 6 month payslips

If reflected on salary advice , amount as per the

salary advice to be used

Letter from Employer confirming Gross figure.

Calc: Subsidy amount X 100% added to

applicant's income and 25% of subsidy amount

added to Tax reduction. If reflected on salary

slip , info per salary slip to be used.

If reflected on salary advice , amount as per the

salary advice to be used

Housing subsidy( accompanied by state

guarantee)

State guarantee to be provided, amount of the


max of 125%.

Do not use this as income.State guarantee to be provided see maximum

loan amount of letter.Do not use this as income

Annual Bonus/Incentives/ shares and dividends/

profit sharingNo income will be used No income will be used No income will be used No income will be used

Last Updated :29 November 2010

DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein

Private Individuals/ Salary Earners


Offer to Purchase Non -Absa Self Employed Clients Existing Absa Self-Employed Clients

Offer to Purchase 1st and second Page and signed pages.



Estate agents

To be signed by all parties To be signed by all partiesTo be fully completed and signed by all Parties


Completed applicationFully completed and dated , where possible it










Copy of Id/s All members/directors/ Trustees copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants

CK/ CM Docs To be provided To be provided To be provided To be provided To be provided

Assets and LiabilitiesYes, All members/directors/ to be provided, and

of the company/CC signed and dated.

Yes, All members/directors/ to be provided, and








Income and ExpenditureYes, All members/directors/ to be provided,

signed and dated.

Yes, All members/directors/ to be provided,

signed and dated.


signed and dated.


signed and dated.


signed and dated.

Personal Bank Statement 6 months for each member / director / trustee Latest 12 monthsLatest 6 months consecutive and up to date

statements. Stamped, no internet

Business Bank statements

Latest 6 Months'. At least 1 month's

authenticated B/Stats (stamped ) With address

noted

Latest 12 monthsLatest 6 months consecutive and up to date

statements, stamped not internet.

Bonds to be registered in a trustCopy of Trust deed and Letter of Authority

specifying that they may obtain finance

Copy of Trust deed and Letter of Authority








Bonds to be registered in Name of a Company/CC Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK3 Copy of Memos & Articles / CM29 / CK1 or CK4

Unbonded Properties - Title deedThis will be seen as a NEW LOAN copy of title

deed to be provided


deed to be provided


deed to be provided


deed to be provided


deed to be provided

Proof of income

Letter from Registered Accountant/Auditor, Personal

incomeNo a pre-requisite. No a pre-requisite.

" I hereby confirm that ( the applicant ) received

a monthly / annual / drawings of R" signed by

applicant & Book keeper with a Practice number

" I hereby confirm that ( the applicant ) received

a monthly / annual / drawings of R" signed by

applicant & Book keeper with a Practice number

Letter of Income (with no reservations)

Financial Statements

Latest 2 years' comparable business audited

signed and dated financials, not older than 12

months.

Latest 3 Years not older than 6 months. No draft

Financials will be accepted. Signed and dated.

Latest 3 Years not older than 6 months. No draft

Financials will be accepted. Signed and dated.

Year on Year Business financials covering at

least 2 years , the latest reporting period not

being older than 6 months. No draft Financial

statements.

2 Years Signed (by an accredited Accountant/

Financial Officer/Auditor and signed by the

client) Comparable and up to date year end

Financials not older than 6 months

Management Accounts

When signed latest Financials are not available

provide latest set of management accounts

together with previous year's audited financials

If Latest Financials older than 6 months , up to

date management accounts signed by an

Auditor /Book keeper & applicant/s

If Latest Financials older than 6 months ,

management accounts not older than 2 months

signed by an Auditor /Book keeper &

applicant/s

If latest Financials older than 6 months ,

management accounts not older than 2 months

, signed by the applicant/Bookkeeper

If Latest Financials older than 6 months ,

management accounts up to date.

SARS IT34 May be called for at Credit's discretion May be called for at Credit's discretion

Alternative to Financial statements :The income

on the applicant's past 3 years certified copies

can be verified against the turnover on the

customer's account

Alternative to Financial statements :The income

on the applicant's past 3 years certified copies

can be verified against the turnover on the

customer's account

May be called for at Credit's discretion

Cash flow Forecast Not a pre-requisite , but may be required Not a pre-requisite , but may be requiredDetails for the next 12 months , supported by

relevant docs e.g. contractsNot a pre-requisite , but may be required May be requested

Declaration for Self-employed Clients n/aRefer to FNB Declaration that needs to be sent

with application formn/a n/a n/a

Additional income

Depreciation May not add back depreciation to net Profit Refer to cash flow calculator. May not add back depreciation to net Profit May not add back depreciation to net Profit May not add back depreciation to net Profit

Net Profit May not be used as income Refer to cash flow calculator. May not be used as income May not be used as income May not be used as income


Self- Employed Clients


Not a pre-requisite, credit could call on this

additionally.

If Personal and Business B/stats at ABSA ,

statements will be drawn from Internal Records


Offer to Purchase 1st Page



Estate agents commission.

To be signed by all PartiesTo be fully completed and signed by all Parties


Completed ApplicationFully completed and dated , where possible it







should be signed by the applicant/s. Together

with Exchange Control approval.

Copy of Passport yes yes yes yes

Bank Statements6 months bank statements where income is paid

into

6 months bank statements where income is paid

into

6 months bank statements where income is

paid into6 months transactional Nedbank statements

Employment Contract Stating Employer details , Income , Contract

Terms & Conditions

Stating Employer details , Income , Contract

Terms & Conditions


Terms & Conditions

Stating Employer details , Income , Contract Terms

& Conditions

Copy of Residence permit Permit number , expiry date for RSAPermit number , expiry date for RSA, remaining

terms may not be less than 3 Years.Permit number , expiry date for RSA Permit number , expiry date for RSA

Work Permit

Permit number , Expiry date for RSA, Employer

details, this must correspond with employment

contract.



contract. May not be less than 3 Years.



contract.



contract.

Proof on Income Yes Yes Yes Yes







To be signed by all PartiesTo be fully completed and signed by all Parties









should be signed by the applicant/s together with

Exchange Control approval.

Copy of Passport yes yes yes yes

Bank Statements 6 months' Bank statements 6 months' Bank statements 6 months' Bank statements

(6 months) Transactional Nedbank statements or

bank report from client's overseas bank (If client

doesn`t have a Nedbank transactional account)


Terms & Conditions


Terms & Conditions


Terms & Conditions


& Conditions

Proof of 50% deposit held as per Exchange Control regulation as per Exchange Control regulation as per Exchange Control regulation as per Exchange Control regulation




Offer to Purchase 1st Page Do not finance Refugees To be signed by all PartiesTo be fully completed and signed by all Parties


Completed Application Do not finance RefugeesFully completed and dated , where possible it




Copy of Maroon ID Do not finance Refugees

Bank Statements 6 months' Bank statements Do not finance Refugees 6 months' Bank statements 6 months' Bank statements


Terms & ConditionsDo not finance Refugees


Terms & Conditions


& Conditions

Refugee status valid for 2 years Do not finance Refugees valid for 2 years valid for 2 years



Refugees (received asylum)

Refer to Private Individuals and Self-Employed Client's for Income Criteria



Temporary Resident (Non SA Id living/working in SA)



Non Resident(non SA Id, living abroad)







To be signed by all partiesTo be fully completed and signed by all Parties








Copy of ID /Passport yes yes yes yes

Bank Statements6 months' Bank statements reflecting stated

income

6 months' Bank statements reflecting stated

income


income


income

Unbonded Properties - Title DeedThis will be seen as a NEW LOAN copy of title

deed to be provided


deed to be provided


deed to be provided

This will be seen as a NEW LOAN copy of title deed

to be provided


Terms & Conditions


Terms & Conditions


Terms & Conditions


& Conditions

Copy of Residence permit Permit number , expiry date for Foreign CountryPermit number , expiry date for Foreign Country

and may not be less than 3 years.Permit number , expiry date for Foreign Country Permit number , expiry date for Foreign Country

Work Permit Permit number , expiry date for Foreign CountryPermit number , expiry date for Foreign Country

and may not be less than 3 years.Permit number , expiry date for Foreign Country Permit number , expiry date for Foreign Country

Income and Expenses For South Africa and foreign country declared in

applicable currencies.

For South Africa and foreign country declared in








SA Citizens Working Abroad








To be signed by all partiesTo be fully completed and signed by all Parties










Copy of ID yes yes yes yes

Building contract & Schedule of FinishesFully completed & Signed contract(specified list

of costs)

Fully completed & Signed contract(specified list

of costs)

Fully completed & Signed contract(specified list

of costs)

Fully completed & Signed contract(specified list of

costs)

Copy of Building PlansYes , with measurements and sized, approved

plans prior to registration only.

Yes , with measurements and sized, approved

plans prior to registration only.Approved Building plan with application. Approved Building plan with application.

NHBRC Registration (Builder) Yes Yes Yes Yes

NHBRC Builders Enrolment Certificate( Property) Yes, prior to registration only Yes, prior to registration only Yes, prior to registration only Yes, prior to registration only

Site Layout PlanIf purchasing within a development ( Full title

stand)

If purchasing within a development ( Full title

stand)


stand)


stand)

Proof of income

Employed & Self-employed Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria


Building Loans Supporting Documents



ABSA

Initiation Fee Ordinary loan / Base rate of R991 + 0.35% of loan amount (with a max of R4842+ VAT)

Offer to Purchase Further loans / Further advances* Base rate of R930 + 0.35% of loan amount (with a max of R4842+ VAT)

Building loan / Further loans / Further advances * Flat fee R 4842 + VAT

* * * Only applicable on the advance portion

Monthly Service Fee Client using Absa HOC R 28.50

Client using other HOC R 45.60

Affordable housing with Absa HOC R 13.68

Affordable housing with other HOC R 22.80

FNB

Initiation Fee New and further loans R5700.00

Building loans R5700.00

Monthly admin fee Irrespective of loan amount R52.00

NEDBANK

Service Fee Pre NCA customers with a bond <R500 000 R 5.70

Pre NCA customers with a bond of > R500 000 R 39.90

New customers and Post NCA customers with Nedbank internal HOC R 39.90

New customers and Post NCA customers with Nedbank external HOC R 57.00

STANDARD BANK

Initiation fee Non-affordable housing R1000 + 0.70% of loan amount (with a max of R5700)

Building loansR5700 flat fee. ** A risk rate premium of 1.5% will be added to all Building Loans for the

entire term of the building loan. Once the product converts to an ordinary home loan, the risk

rating defaults automatically **

Service fee Client using Standard bank HOC R 45.00

Client using other HOC & NCA Safe custody account R 57.00

*** Further loans at Standard bank where the first bond was concluded prior to NCA will

attract the above mentioned initiation fee ***


Consolidated Bank Fees Structure - in Accordance with NCA

Financing - Home Loan - Banks Supporting Documents - ABSA,FNB,STB,NBK

Documents

Transcript of Financing - Home Loan - Banks Supporting Documents - ABSA,FNB,STB,NBK