Absa
ONLY 84% bond approval

I used a bondbroker to obtain a homeloan of at least 90% on an insolvent estate. The purchase price is 1320000. The value of the house is more then 1.6m. We are paying the deposit, transfer fees and duties all cash upfront. We have worked out we need at least 90% bond to proceed. Absa says because we are non-absa, we can only get 84%. I do not see the risk for Absa? Why not 90%? We have a personal loan at Absa currently as well. Outstanding amount is -55k, I will also be willing to settle this straight away if we can get at least 90%. I read Absa is losing ground in the homeloan race, now I know why. Please help me with this, and show you are still interested in new business. I might just well decide to change banks too.

Company: Absa
Country: South Africa
City: Home loans

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