Consumer credit-risk profiles

Dear Customer Understanding current situation with regards to the credit profiles of the consumer(credit-active) is indeed part of our business and Absa therefore thought that it could be of value to yourselves if they shared this with you as their“business partners”. It is very clear from the report that the consumer is under pressure! Please see the updated report attached. …

Absa Home Loans launches the “Guiding You Home” Show on DStv

Absa Home Loans launches the “Guiding You Home” Show on DStv Dear Valued Customer Absa Home Loans Launches a brand new series on DStv`s Home Channel ‘Guiding You Home’ a first for SA Television Don’t miss the airing of Absa’s “Guiding you Home” episodes which will début on DStv’s Channel 176 and will run for two seasons. This is an …

Absa – MyHome Income Adjustment for 2015

Dear Customer Please see attached and below communication received from Absa regarding the changes to income parameters for affordable housing. Please also find attached updated Loan to Value Matrix. Dear Stakeholder, New MyHome Income Adjustment for 2015… We are pleased to announce the revision and adjustment of our income level for the Affordable Housing segment.  The adjustment is in line …

ABSA Credit and Mortgage Advances

Growth in outstanding credit and mortgage balances in the South African household sector remained relatively low in the first six months of 2014. Interest rates were hiked further in July and a continued upward trend expected in rates towards the end of 2014 and through 2015 will contribute to household credit and mortgage balances growth remaining in single digits over …

Bank valuations can derail bond applications

Property owners are often surprised by the banks’ valuation procedures and the figures they arrive at, says Mike van Alphen, National Manager of the Rawson Property Group’s bond origination division, Rawson Finance. ‘Although it is generally accepted that bank valuers are very carefully trained and work to internationally accredited criteria, this does not mean that they will all come up …

ABSA Credit and Mortgage Advances

Year-on-year growth in the value of outstanding credit balances in the South African household sector, comprising of instalment sales, leasing finance, mortgage loans, overdrafts, credit card debt, and general loans and advances (mainly personal loans and micro finance), slowed down further to 4,8% at the end of March 2014 from 5,6% and 5,2% respectively at the end of January and …

ABSA – Building Activity

Residential building activity in the South African market for new housing continued to experience pressure up to February 2014, based on data released by Statistics South Africa.Especially the construction phase of new housing showed a significant contraction in the first two months of the year compared with the corresponding period last year. Levels of residential building activity will continue to …

ABSA Economic Report – April 2014

Nominal year-on-year growth in the average value of homes in the middle segment of the housing market remained in single digits in February 2014, impacted by factors related to the economy, household finances and consumer confidence. However, base effects caused an uptick in nominal year-on-year price growth in two segments of the market. Single-digit nominal house price growth is forecast …

Hold or sell?

Hold or sell? That’s the dilemma the launch of each new office complex in Sandton raises in the minds of adjacent or nearby local homeowners. This is according to Ronald Ennik, founder and CEO of luxury home marketer Ennik Estates, who says it’s a choice that is almost certainly being faced right now by residents close to Sandton’s latest commercial …