ooba rebrands insurance offering

ooba rebrands insurance offering

ooba (formerly MortgageSA) has rebranded its insurance offerings ooba Buildings Protector and ooba Bond Protector in keeping with the company's name change earlier this year.

"We have renamed the insurance offering as a whole the 'ooba Protector Range' " said Craig Young, Insurance Managing Executive at ooba.

ooba Buildings Protector, previously known as Buildings Insurance (BI) and ooba Bond Protector, previously Mortgage Protection Plan (MPP) are the two insurance products offered within the ooba Protector Range.

"We felt that it is important to align our products with the rebranding of the company from MortgageSA to ooba," says Young. "The name ooba is a differentiator in an industry that has become cluttered with generic names."

The bond originator rebranded in February this year. As well as being the biggest bond origination company in South Africa ooba also offers insurance, an online property search engine and have recently introduced a credit card.

"ooba Protector Range offers both building and bond protection to cover key home owner insurance needs," says Young.

"Due to changes in legislation, you now have freedom of choice to obtain Buildings Insurance cover from any accredited insurer," Young points out. "The ooba Buildings Protector protects your home from costly damage that could be caused by unforeseen circumstances and gives you comprehensive cover at highly competitive rates."

The ooba Bond Protector, previously known as the MPP, is designed to provide bondholders with comprehensive cover in the event of death, disability, a dread disease or retrenchment.

Hello ooba news

ooba (formerly MortgageSA) welcomed the 0.5% interest rate cut announced yesterday by the South African Reserve Bank which will save South African home owners an estimated R259m in home loan repayments each month, but says more cuts are needed.

According to a new poll by South Africa's leading property listings website, nearly a third of home hunters decide that a property is right for them before they even enter the house - and a kitchen is overwhelmingly the most important room when it comes to the buying decision.

Propertygenie.co.za has entered into a partnership with fractionalownership.co.za to provide access to the latest fractional ownership listings which will be available from the 12 December, 2008.

South Africans spent over R10 billion during the festive season last year. This year ooba suggests carefully planning your holiday season spending to avoid a financial hangover in January 2009. "Festive season debt can take months to pay off in the new year," says Jenny Rushin, Provincial Sales Manager for ooba (formerly MortgageSA).

Weak economic conditions, higher interest rates and the global credit crisis have forced banks to be far more picky about who they will lend money and less generous with their lending rates. But Mary Jane Lefevre, Regional Sales Manager of ooba, said that before you apply for a home loan, there are steps you can take to improve your credit status and encourage lenders to look more favourably on your application.