AN
ANDREW N
1 reviews | Active since Oct 2024
01 Oct 2024, 11:24
Inrest Rate
Good Morning I been with SA Homeloans for 11years my intrest rate is on 12% on the 1/10/24 after they dropped the 25basis points. After a few attems and speaking to Mr Surren indicated that the intrest rate went higher than the banks during the last 4 years..hes ****y attitude is i can due what i neef to do he dont care.
I then went on the sight to reapply for a new bond and was calcullated at 10.70% with the help from Duran Kiskoon saying if i have a good clean record they can give me a lower intrest rate He also recommented that they arr and always been lower intrest rade than the banks. According to MR Surren they increased the intrest rate higher than the banks.
Is it fair to say do business with SA homeloans .....no the overide there business as the wish ...as Mr Surren said do what you want i dont care ..after 11 years plus my previous house bond i am loyal more than 15 years this is whst they have to say.
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Replies (3)
SA Home Loans's replyOfficial
01 Oct 2024, 11:51Hi Andrew. SA Home Loans Interest Rates are determined at origination and is linked to a variable Base Rate, the 3-month JIBAR. We do not use the Prime Lending Rate as our Base Rate. Our rates are disclosed to our clients following a credit assessment.
The interest rate on your home loan reduced by 0.3% from December 2023 to September 2024 despite the Prime Lending Rate only reducing by 0.25% in September 2024.The Banks use the Prime Lending Rate as their Base Rate which is always calculated as the REPO Rate + 3.5%, whereas SA Home Loans uses the 3-month JIBAR as a Base Rate which is a close approximation of the Repo Rate.
While we acknowledge that there are timing differences between adjustments to the REPO Rate and your Interest Rate at the predefined Quarterly Reset dates, when the REPO Rate increases SAHL does not increase your home loan rate immediately i.e. your home loan rate remains unchanged from one quarter to the next regardless of adjustments to the REPO Rate in that time.
Regards
The SA Home Loans Team
The interest rate on your home loan reduced by 0.3% from December 2023 to September 2024 despite the Prime Lending Rate only reducing by 0.25% in September 2024.The Banks use the Prime Lending Rate as their Base Rate which is always calculated as the REPO Rate + 3.5%, whereas SA Home Loans uses the 3-month JIBAR as a Base Rate which is a close approximation of the Repo Rate.
While we acknowledge that there are timing differences between adjustments to the REPO Rate and your Interest Rate at the predefined Quarterly Reset dates, when the REPO Rate increases SAHL does not increase your home loan rate immediately i.e. your home loan rate remains unchanged from one quarter to the next regardless of adjustments to the REPO Rate in that time.
Regards
The SA Home Loans Team
SA Home Loans's reply01 Oct 2024, 11:51
Official
Hi Andrew. SA Home Loans Interest Rates are determined at origination and is linked to a variable Base Rate, the 3-month JIBAR. We do not use the Prime Lending Rate as our Base Rate. Our rates are disclosed to our clients following a credit assessment.
The interest rate on your home loan reduced by 0.3% from December 2023 to September 2024 despite the Prime Lending Rate only reducing by 0.25% in September 2024.The Banks use the Prime Lending Rate as their Base Rate which is always calculated as the REPO Rate + 3.5%, whereas SA Home Loans uses the 3-month JIBAR as a Base Rate which is a close approximation of the Repo Rate.
While we acknowledge that there are timing differences between adjustments to the REPO Rate and your Interest Rate at the predefined Quarterly Reset dates, when the REPO Rate increases SAHL does not increase your home loan rate immediately i.e. your home loan rate remains unchanged from one quarter to the next regardless of adjustments to the REPO Rate in that time.
Regards
The SA Home Loans Team
The interest rate on your home loan reduced by 0.3% from December 2023 to September 2024 despite the Prime Lending Rate only reducing by 0.25% in September 2024.The Banks use the Prime Lending Rate as their Base Rate which is always calculated as the REPO Rate + 3.5%, whereas SA Home Loans uses the 3-month JIBAR as a Base Rate which is a close approximation of the Repo Rate.
While we acknowledge that there are timing differences between adjustments to the REPO Rate and your Interest Rate at the predefined Quarterly Reset dates, when the REPO Rate increases SAHL does not increase your home loan rate immediately i.e. your home loan rate remains unchanged from one quarter to the next regardless of adjustments to the REPO Rate in that time.
Regards
The SA Home Loans Team
AN
ANDREW N's updateReviewer Update
01 Oct 2024, 12:01I disagree what you trying to justify yourselfs.
I can go and buy a brand new home for R1400 million at an intrest rate at 10.50% and my current intrest rate on a bond that is more than 10 years with no arrears payment is on 12% and you always say jion SA Homeloan we cheaper than the banks..dont try and justify the senario that you are cheaper than the banks intrest rates and this morning you consultant offered me a 10.70 % intrest rate on a R1400 million property....why must i pay 12% intrest rate on your property?
Dont try and justyfied your mistake on 12% intrest rate...fix my issues as this is been a on going thing that has been raised ...as your ****y attutute said go ahead do what you want we do care...i am raising my vioce to the rest of South Africa home owners not to be trapped in the same senario i am finding myself with SA homeloans that you can change the intrest rate as you like.
I can go and buy a brand new home for R1400 million at an intrest rate at 10.50% and my current intrest rate on a bond that is more than 10 years with no arrears payment is on 12% and you always say jion SA Homeloan we cheaper than the banks..dont try and justify the senario that you are cheaper than the banks intrest rates and this morning you consultant offered me a 10.70 % intrest rate on a R1400 million property....why must i pay 12% intrest rate on your property?
Dont try and justyfied your mistake on 12% intrest rate...fix my issues as this is been a on going thing that has been raised ...as your ****y attutute said go ahead do what you want we do care...i am raising my vioce to the rest of South Africa home owners not to be trapped in the same senario i am finding myself with SA homeloans that you can change the intrest rate as you like.
AN
ANDREW N's update01 Oct 2024, 12:01
Reviewer Update
I disagree what you trying to justify yourselfs.
I can go and buy a brand new home for R1400 million at an intrest rate at 10.50% and my current intrest rate on a bond that is more than 10 years with no arrears payment is on 12% and you always say jion SA Homeloan we cheaper than the banks..dont try and justify the senario that you are cheaper than the banks intrest rates and this morning you consultant offered me a 10.70 % intrest rate on a R1400 million property....why must i pay 12% intrest rate on your property?
Dont try and justyfied your mistake on 12% intrest rate...fix my issues as this is been a on going thing that has been raised ...as your ****y attutute said go ahead do what you want we do care...i am raising my vioce to the rest of South Africa home owners not to be trapped in the same senario i am finding myself with SA homeloans that you can change the intrest rate as you like.
I can go and buy a brand new home for R1400 million at an intrest rate at 10.50% and my current intrest rate on a bond that is more than 10 years with no arrears payment is on 12% and you always say jion SA Homeloan we cheaper than the banks..dont try and justify the senario that you are cheaper than the banks intrest rates and this morning you consultant offered me a 10.70 % intrest rate on a R1400 million property....why must i pay 12% intrest rate on your property?
Dont try and justyfied your mistake on 12% intrest rate...fix my issues as this is been a on going thing that has been raised ...as your ****y attutute said go ahead do what you want we do care...i am raising my vioce to the rest of South Africa home owners not to be trapped in the same senario i am finding myself with SA homeloans that you can change the intrest rate as you like.
AN
ANDREW N's updateReviewer Update
01 Oct 2024, 16:46Hi
How can SA homeloans not solve my issues
You get a helpdesk operator to send me an e mail to send an email to say my issue has been resolve.again i try to reaply for a bond with SA homeloans and was approved for 10.70 % intrst but my 11 year old bond with SA homeloan was increased to 12%
How do you calculate that.
You say you nod a bank and your intrst rate is cheaper than the banks but it certainly not indicate that on my house bond .
How can SA homeloans not solve my issues
You get a helpdesk operator to send me an e mail to send an email to say my issue has been resolve.again i try to reaply for a bond with SA homeloans and was approved for 10.70 % intrst but my 11 year old bond with SA homeloan was increased to 12%
How do you calculate that.
You say you nod a bank and your intrst rate is cheaper than the banks but it certainly not indicate that on my house bond .
AN
ANDREW N's update01 Oct 2024, 16:46
Reviewer Update
Hi
How can SA homeloans not solve my issues
You get a helpdesk operator to send me an e mail to send an email to say my issue has been resolve.again i try to reaply for a bond with SA homeloans and was approved for 10.70 % intrst but my 11 year old bond with SA homeloan was increased to 12%
How do you calculate that.
You say you nod a bank and your intrst rate is cheaper than the banks but it certainly not indicate that on my house bond .
How can SA homeloans not solve my issues
You get a helpdesk operator to send me an e mail to send an email to say my issue has been resolve.again i try to reaply for a bond with SA homeloans and was approved for 10.70 % intrst but my 11 year old bond with SA homeloan was increased to 12%
How do you calculate that.
You say you nod a bank and your intrst rate is cheaper than the banks but it certainly not indicate that on my house bond .