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Standard Bank to relax lending criteria
Standard Bank Team
Super Contributor

We’re proud to announce that we’ve made it easier for first-time buyers to enter the property market by easing our lending criteria for home loans. We’ve also increased our risk acceptance for credit cards.

(Please note that this only applies to the South African market.)

Although economic recovery is slow, we see medium-term improvement for South African households as affordability improves on the back of lower interest rates. While we remain focused on prudent risk, capital and liquidity management, we’re also committed to providing access to finance and financial services to the low income market.

The following adjustments have been made to lending criteria:

• Jump Start Bonds: First-time home owners who are using the house as their primary residence can now qualify for a cost-inclusive 104% Loan to Value (LTV) loan.
• Affordable Housing: LTVs of 100% (up from 90 – 95%).
• Customers using internal Standard Bank channels with home loans of under R1.5m can qualify for LTVs of 100% (up from 90 – 95%). Loans of R1.5m – R2.5m will still require a 10% deposit and home loans over R2.5m will still require a 20% deposit.
• We will now also accept low-risk non-cheque Standard Bank customers and low-risk non-Standard Bank customers for home loans.
• For credit cards, we have raised the ‘acceptable’ bad debt ratio by 3% on new business written in a select entry-level segment of the portfolio.

We've also accepted the tender proposals for origination business from BetterBond, Bond Choice and Multinet. All three have already been submitting home loan applications since 24 August 2009.
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Does this affect car finance as well?
Standard Bank Team
Super Contributor
It's our number one priority to provide home loans for the South African people, but we will be looking into options for car finance.
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Well done to Standard Bank for finally seeing the light. However, it's two months too late for me. After being a loyal Standard Bank customer for 20 years, I was convinced to move to FNB private banking. Only to then have to plead with FNB for a 90% bond despite having a PhD and stable employment. After being forced to take out a personal loan and credit card to cover the 10% deposit and other costs, my repayment is now far higher than what it would have been with a 100% bond. This in turn of course affects my credit rating. Should I now want to switch bonds, I will no doubt be penalized and have to pay bond registration costs again.
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I'm a first time buyer, non Standard Bank account holder, but I am low risk, great record and have been able to save. I have minimal expenses so my affordability is great and that's why I have been able to save. I am certain I have a fab ITC score as I have never in my life defaulted on a payment. I want to purchase a home that is valued at over R1.5mil but I have an accepted OTP for R1.15 which is obviously a great deal and this property is currently bonded to a Standard Bank client. I will put in a deposit of R100k and so I need a bond of between R1.05 and R1.1 depending on costs. My gross is R30000 plus I will have additional income, I have a written lease agreement for R5200 per month that will come into effect at the start of the loan period. What are my chances with Standard Bank? Have these relaxation sentiments filtered down to staff at the branches?
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What does the above mean exactly? For example, i earn over R10,000 with stable employment but i have a default with a retail store, the store will not remove the default listing until the 2 year data retention period is up, HOWEVER this account was settled in full with a letter confirming same from the store, how is this viewed by Standard Bank?
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I recently applied for a homeloan through Standard Bank and had an experience of a lifetime. The property is situated in one of the small towns in the country and the property is a bargain at the price. The Standard Bank assessor scheduled to go and assess the property and I assisted him to ensure that he meet someone at the property, however the same day the assessor called me back saying that he did not find anyone at the property and he will postpone the assessment. Guess what I heard next, the application had been declined on the basis of the property not being a good security? Minutes before this I was contacted by someone who is being sent by Standard bank to arrange assessment of the property. I assisted her with the relevant person to ensure that this process was completed. The question at the back of my mind is: who is applying for a homeloan on this house other than me because my application had been declined four days ago? Why is Standard Bank still arranging for the assessment to be done on this property.

I had faith in the bank and have been with the bank for a very long time, there have been some mistakes by the bank but I overlooked them but this one really affects my life and future and is hard to overlook.
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Good Day,

Please confirm if Standard Bank can help with financing a car while I have a default against my name?
Standard Bank Team
Super Contributor
Hi there,

The best thing for you to do is visit your branch and explain your situation.

To learn more about our vehicle financing, visit

Good luck!
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My credit score is not that great and I've been doing anything I can to raise it. I read on that getting an installment loan ( usually helps because it diversifies your credit report. Naturally, I don't qualify for such a loan because of my credit score, but I did hear about the existence of secured installment loans which are given based on money you have in a savings or money market account. Do you offer anything like that?
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Hi, I want to transfer my existing bond to Standard bank. I presently have my cheque account with Standard bank. How do I go about getting the bond transferred. - Thanks
Standard Bank Team
Super Contributor
Hi there,

The best thing to do is visit your nearest Standard Bank branch so they can look into it for you. :)
Terrance Naidoo
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I am a first time buyer and have put through a OTP through Standard Bank who i have been granted a 90% bond.I have been banking with Standard Bank from 16 years of age which makes me a 27 year LOYAL client.I have never defaulted on any payements and have a good credit rating , reason this is not great is that i am old school and DO NOT LIKE to build up credit with

accounts hence paying cash for almost all of my needs.I do have a good credit rating however.I ONLY want to take my Bond with STANDARD BANK as i have had excellent service from them and will NEVER want to change banks.I do need the 100% bond as the once off costs of R70000 + takes away my savings hence needing the 100% bond.My affordability is excellent

for the property i want to purchase , my expenses are minimal , i have applid for a bond with my spouse and together our gross income is 40k and we are eligible for the home loan.


Our consultant from Standard Bank Bluff is EXCELLENT and is currently motiavting for the 100%.Keep in mind i do haev extra savings over and above the once off costs however 

this is required for attending to the house we want to purchase(needs a bit of work).


So in finality we have great affordability  , my credit is GOOD and my wifes is EXCELLENT , we are both SB clients for many years , we have stable careers and we will be

growing in our organisations.


i see no reason why we should be refused a 100% bond.


please advise steps we can take if we do not get the 100% bond after motivation from our Banker and consultant from SB Bluff.


Thank you