Young Professionals
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Young Professional Home Loans
Young Professionals Home Loan is for First Time Homebuyers 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. (honours).
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% cashback on MyTelnet home connectivity products and services 10% cashback on Fidelity ADT’s monthly subscriptions 1% cashback at Hirsch’s.
- Need consultation or analysis on Savings and Investments o Insurance and Risk protection o Retirement Planning Wills and Trusts.
Qualifying Criteria:
- Less than and equal to 35 years of age.
- NQF 8 and Higher i.e., Honours Degree – a copy of the customer’s 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.
- Flex Reserve 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.
- The 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.
Compulsory Requirements
- Internal and External Sources to indicate Campaign Code: CAMPAIG013 – Young Professional.
- Flex Reserve 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.
- The 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.
