Young Professional Home Loan Product by ABSA

ABSA Home Loans announced the launch of the Young Professionals Home Loan proposition where First Time Home buyers up to the age of 35 can apply for up to 105% bond with a maximum purchase price of R1 500 000.   The proposition is open to Young Professionals with any 4 year degree at NQF level 8 or higher i.e. (honors).

This Home Loan strategy is focused on growth in the First Time Home Buyer market and as a sub-segment of this, the Young Professionals market presents a key market opportunity for us.  In support of executing on the goals and aspirations of our strategy, we are pleased to provide you with an overview of the new Young Professionals Home Loan proposition.

The Proposition:

•           A Loan to Value (LTV) of up to 105% i.e. 100% LTV to cover purchase price capped at

             R1.5million and up to an additional 5% to cover bond transfer and registration costs 

•           30% discount on attorney bond registration costs through a ring-fenced panel of Absa

             attorneys

•           Attorney convenience i.e. the Attorney will visit the customer at a date, time and place

             convenient for the customer to sign all home loan documents

•           A digital TakeAlot voucher of R5000 for the first 415 registrations, delivered post registration

             of the mortgage bond and redeemed online on the TakeALot website. (Limited offer)*

Additional benefits:

•           Customers may download the Absa Homeowner app to help with finding a dream home or

              Calculate affordability or get a Home Loan Estimator certificate before shopping for a home

•           If the customer is an Absa Rewards member, they get even more benefits:

•           10% cash back on MyTelnet home connectivity products and services

•           10% cash back on Fidelity ADT’s monthly subscriptions

•           1% cash back at Hirsch’s

To Take up this offering, please complete the contact form on Bond Gallery page for a consultant to contact you or phone us on 011 954 3316.

Qualifying Criteria:

•           Less than and equal to 35 years of age

•           NQF 8 and Higher i.e. Honours Degree – copy of the customers qualification to be submitted

              An application with other minimum home loan supporting documents

•           Maximum Purchase price R1 500 000 

•           First Time Home Buyer 

Compulsory Requirements:

•           Internal and External Sources to indicate Campaign Code: CAMPAIG013 – Young

             Professional 

•           FlexiReserve advance payment option will only be available once the Loan to Value (LTV) is

               ≤ 100%,  if the customer receives above 100% bond

•           The maximum loan term for this proposition is 20-years

TakeAlot Voucher: Limited Offer*

•           The first 415 clients to have their Absa bonds registered will receive a TakeALot voucher to

              the value of R5 000 (including VAT). 

•           The customer will receive the TakeALot voucher via e-mail to redeem online post the home

              loan being registered.  This will be e-mailed to the customer post the home loan registration. 

 The TakeAlot terms

               and conditions are available at https://www.takealot.com/help/terms-and-conditions

•           The vouchers will be valid for 3 (three) years from the date of issue

•           Vouchers cannot be converted to cash

•           Voucher is only redeemable online via the TakeALot website

•           The TakeALot voucher will be e-mailed to the customer within 30-calendar days after

              registration of  the mortgage bond


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