ooba Case Studies

In this market, it is critical that you use the services of an expert originator who knows how to position your bond for optimal success. The case studies that follow demonstrate how ooba’s expert advice and service ensured success for these happy homebuyers:

The ooba team had 2 challenges to overcome with this deal; the purchasers were non-SA residents and self-employed. Due to the clients’ poor credit profile, the application was declined by 2 banks.

The purchasers needed a substantial bond of R 3 300 000 and decided to approach several banks directly. After failing to secure a loan at any of the banks they turned to ooba for help.

This application had its first hiccup when all the banks declined the loan within days of submission.

The purchase price for this deal was R940 000 and the buyer wanted a 100% loan.

Hello ooba news

When applying for a home loan, one of your most important considerations should be securing the lowest interest rate possible. And when the home loan is granted, you should do everything you can to reduce the term and the interest that you pay.

In a recent survey conducted on PropertyGenie.co.za, an overwhelming majority of respondents said that potential partners are more attractive to them if they already own a home.

"Many of South Africa's consumers with bad credit records are unable to secure home loan finance to enable them to buy property, according to ooba.

Although 100% home loans are being approved by banks in select cases, potential property owners are advised to save for mortgage deposits, due to the numerous economic benefits for prospective home owners in the long-term.

According to the Credit Bureau Monitor's 2010 4th quarter report only 53.3% (9.90 million) of the 18.51 million credit-active consumers in South Africa were classified as in good standing.