Step onto the property ladder with a Family Springboard Home Loan. Get your family members to provide a fixed deposit to the value of 10% of the property’s purchase price as surety. It’s an easy way to grow your investment

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Get up to 100% home loan

Enjoy a 100% loan when buying a property of up to R1 500 000. 

Step onto the property ladder

Get a family member or friend to provide security through an Absa Fixed Deposit.

30% off attorney bond costs

Absa covers 30% of the attorney bond costs (up to a maximum of R4 200).

50% of NCA Initiation Fees

Get 50% reduction on your National Credit Act (NCA) initiation fees.

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Manage my debt

If your debt is taking control of your life, speak to us first. We will help you.

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How it works

What you get
  • A 100% loan to purchase your new home (the fixed deposit takes the place of a cash deposit).
  • 50% reduction on your NCA initiation fees
  • 30% of the attorney bond costs up to a maximum of R4 200 covered by Absa (If the bond costs are more than this, you’ll have to pay the difference.).
  • Your helper’s fixed deposit replaces the actual cash deposit required as collateral.
  • Everybody wins – your property investment grows, while your helper’s fixed deposit investment grows.
  • Apply to have collateral released and the Absa Fixed Deposit returned, with interest, once the home loan reaches the original loan-to-value level of 90% (subject to a credit assessment and property valuation).
  • A choice of a variable or fixed interest rate.
  • The home loan period can be structured up to a maximum term of 20-years.
  • Absa Homeowner’s Comprehensive Insurance to protect your home.
  • Free eStatements.
  • We will provide a financial planning consultation with a qualified adviser, to consider the following for you: a Will, a life policy, retirement planning, and other options. Send an email to virtualadviser@absa.co.za and an adviser will call you.
What you need to know
  • A single or joint gross monthly household income of less than R20 000
  • Pay a deposit upfront, reduce your home loan and reduce your monthly repayments
  • Pay extra into your home loan every month and reduce the interest cost
  • Once you have released your helper’s fixed deposit, you can apply for ReAdvance or Further Advance, together with a Multiplan to access available equity in your home
  • Register for Absa Rewards
  • Get electronic access to your home loan with Absa Online and telephone banking (if you have an Absa transactional account)
  • Absa Home Loan Protector Policy that pays off your home loan in the event of your death
  • The ability to track your application online, from submission to registration.
What you bring when you apply

Full time employed:

  • A fully completed offer to purchase with the following details:
  • Seller details
  • Purchaser details
  • Correct property description
  • Purchase price
  • Signature of the seller, the purchaser and relevant witness
  • Contact details of the seller 

Residents

  •  Copy for each participant:
    • A bar-coded South African ID and Smartcard (both sides)
    •  A passport
    • Copy of marriage or divorce certificate if surname in identity document differs from surname on application
    • Proof of residence
    • Latest payslip (only one required for salaried individuals)
    • 3 months’ bank statements, where latest 3 salaries were deposited

Non-residents

  • Copy for each participant:
    • A passport or permit
    • A refugee or maroon ID
    • Copy of marriage or divorce certificate if surname in identity document differs from surname on application
    • Proof of residence
    • Latest payslip (only one required for salaried individuals)
    • 3 months’ bank statements, where latest 3 salaries were deposited

If you’ve earned any of the following, 6 months’ consecutive payslips should be provided:

  • Commission or overtime earned
  • Subsistence allowance
  • Shift allowance or travel claims 

Self-employed:

A fully completed offer to purchase with the following details:

  • Seller details
  • Purchaser details
  • Correct property description
  • Purchase price
  • Signature of the seller, the purchaser and relevant witness
  • Contact details of the seller 

Residents

  • Copy for each participant:
    • A bar-coded South African ID and Smartcard (both sides)
    • A passport
    • Copy of marriage or divorce certificate if surname in identity document differs from surname on application
    • Proof of residence
    • Latest payslip (only one required for salaried individuals)
    • 3 months’ bank statements, where latest 3 salaries were deposited

Non-residents

  • Copy for each participant:
    • A passport or permit
    • A refugee or maroon ID
    • Copy of marriage or divorce certificate if surname in identity document differs from surname on application
    • Proof of residence
    • Latest payslip (only one required for salaried individuals)
  • 3 months’ bank statements, where latest 3 salaries were deposited 
  • 2 consecutive years’ financial statements signed and verified by auditor (no draft copies and not older than 6 months)
  • For financial statements older than 6 months, signed up-to-date management accounts (not older than 2 months)
  • An unqualified letter from the registered accountant or bookkeeper
  • 2 years’ original consecutive financial statements, no older than 6 months (signed and verified by auditor)
  • If financial statements are older than 6 months, then signed up-to-date management accounts (not older than 2 months)
  • An unqualified letter from the registered accountant or bookkeeper
  • In exceptional circumstances where the income declared is not supported by financial statements, legible, original or certified copy of the IT34 of the past 3 years for the individual
  • Latest 3 business account bank statements
  • Latest 3 personal transactional account(s) bank statements - reflecting declared income
contact

Need more help?

Let one of our consultants help you get the best home loan for your needs.

Call us on:

0860 111 007

E-mail us at:

home@absa.co.za

Visit your nearest branch