SA Home Loans

The name SA home loans is certainly a well known name throughout South Africa. Their popularity comes from the fact that they provide the South African home loan applicants with cheap rates and excellent mortgage options.

They were the first non-bank home loan provider and still are the 5th largest mortgage company in South Africa. In 2004 and 2005 SA home loans won the Daily News Readers’ choice award for the best mortgage lender. The company consist of more than 700 staff members and 17 offices country wide. Their shareholders are Consumer Holding Inc.., Standard Bank Group limited and Management.

How did they start?

SA home loans started in February 1999 when interest rates were still at an enormous height at 23.5%. This was the perfect time as the SA public needed a way to save money on their bonds. At that time SAhome loans offered interest rates at 19.6% which was much cheaper than the banks.

In 2002 SA home loans’ rates was still cheaper than the banks and they made their costumers save huge on mortgage rates.

In 2003 the interest rates decreased and SA home loans took the banks’ rates form 17% to 11.5%. SA home loans ended their year off at a low 9.5% interest rate. They were the first mortgage provider to offer rates below 10% in over 22 years.

In 2005 SAhome loans were the first pioneers in the home loan market to offer a 20 year fixed rate bond. They were the first in the world to offer such an option. The VariFix is unique as the rate can go up but it can not go down.

In 2006 SA home loans also introduced its new “Super Lo” which offers clients a further rate concession in the form of a loyalty bonus.