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

A 100% loan to buy your property up to R1 500 000.

Family assistance

Ask a family member or a friend to provide security through an Absa Fixed Deposit to the value of 10% of the property’s purchase price.

30% off attorney bond costs

Absa covers 30% of the attorney bond costs of up to R4 200.

50% of NCA Initiation Fees

Benefit from a 50% reduction on home loan National Credit Act (NCA) initiation fees.

Manage my debt
Manage my debt

Let us help you during these tough economic times, and make buying a home a dream come true.

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How to get it and what you can expect

  • What you get

    • A 100% home loan
    • 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 then you will have to pay the difference)
    • Your assistance from your family or friend's fixed deposit replaces the actual cash deposit required as collateral
    • 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
    • Absa provides a free financial planning consultation with a qualified adviser, to consider the following for you: a Will (free to Absa Home Loan holders), a life policy, retirement planning, and other options.  

    Send an email to virtualadviser@absa.co.za  and an adviser will call you back.

  • 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 to 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
      • 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

Need more help?

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

Call us on:

0860 111 007

Email us at:

home@absa.co.za

Visit your nearest branch