Capitec have partnered with SA Home Loans to launch its full home loan offering.
Based on simplicity and affordability, their digital product has one of the fastest application processes in the country – allowing consumers to initiate an application in under five minutes – alongside highly competitive linked interest rates from 6%.
This offering was developed in a response to strong demand for a simple and efficient, digitally led home loan option. “We have continually received requests from both clients and the public asking us to challenge the norms of home loans as we have done with banking” says Francois Viviers, Executive of Marketing and Communications at Capitec.
Previously, application processes have required a lot of paperwork as well as time. Capitec have simplified this by offering potential clients an easy four step online application that takes less than five minutes to complete. Applicants do not need to have any documents on hand and the questions are easily answered through multiple choice or simple entries such as name, surname, and income.
“Applicants can apply from anywhere, anytime on Capitec’s online home loan portal. We have made it easy for clients to track the progress of their application in real-time. We found most application tracking to be vague or use terms that are not easily understood by someone who is unfamiliar with the process. Our tracking comprises of six easy to follow steps with clear communication describing the details of each step and if anything is required from the client.”
Accessibility is key to everything that Capitec does and all South Africans eligible for a home loan can apply for their new offering: “Capitec is offering home loans of up to R5 million over thirty years and clients receive a discount of up to 50% on lawyers’ fees through SA Home Loans’ National Panel of Attorneys”.
“Government employees can also qualify for a discount on their interest rate granted, when agreeing to a salary stop order as part of the government employee housing scheme. This special home loan package offers a flexible term of up to twenty years on 100% of the purchase price depending on the applicant’s affordability”.
Alongside the portal, clients are also assigned a home loans consultant, should they require further assistance through personalised human interaction.
“We look forward to helping South Africans live better with our new home loans product. Buying a home is an exciting time in people’s lives and we believe the process should be as simple and efficient as possible” concludes Viviers.