Absa Home Loans
ABSA plans to offer an additional R6,2 billion on home loans for affordable housing up to 2017
A circular has been forwarded this morning by Carel Gronum, Head, Absa Home Loans
Dear Stakeholders,
Our tough competitive environment requires that we remain agile and always offer relevant solutions for our customers. This will advance our “Go-To” journey, while enabling our customers
to achieve their ambitions in the right way.
As we move into the second half of 2014, Absa Home Loans is pleased to inform you of a few changes that will better position us to once again play a pivotal role in addressing the housing challenges faced by many South Africans.
Firstly, the Affordable Housing segment of Absa Home Loans will be repositioned as ‘MyHome’ with immediate effect.
A compelling feature of the MyHome proposition is that it offers our
customers a 30% discount on the initiation fees applicable to their home loans.
Additionally, Absa has requested our panel of attorneys to participate on this journey by providing a 30% discount on bond costs to make it easier for our customers to afford their own homes.
The respective discounts will be effective from 1 July to 31 December 2014 and will be applicable to home loans which have been approved and/or attorney instructed during this period. This offer
will also be available to existing customers, who may require further advances on their existing bonds.
In addition, the MyHome offering will be the driving force to enable Absa Home Loans to assist government in alleviating the housing shortages in our country. This offering reinforces our role as
a socially responsible corporate citizen as we help our communities to prosper and realise their home ownership dreams.
The MyHome offering and features will also apply to Absa’s support for government initiatives such as the Finance Linked Individual Subsidy Programme (FLISP).
I am confident that the MyHome offering will help us become more competitive and also assist us in capturing greater market share so that we achieve our target to grow Absa’s MyHome book from
R9.2bn to R15.4bn, by 2017.
Source / Carel Gronum, Head, Absa Home Loans