Home loans | Namibia Mobile Site
Namibia
Namibia
Go
Home loans

Home loan

As a leading home loan provider, we can help tailor a home loan that's right for you. Apply online or call 294 2436 (08:00 – 16:30) or visit your nearest branch.

What does it offer me?

  • Home loan mortgage bond 
  • Home loan group scheme 
  • Access bond 
  • Re-advance/ further bond 
  • Building loan 

Ordinary Home loan

An ordinary home loan is used for purchase of immovable property and is subject to a mortgage bond being registered over the property

  • N$150 000 minimum loan amount
  • 100% loan can be provided subject to the valuation of the property
  • Non-Namibian residents to give 50% deposit

 

Vacant Land/Erf

Serviced Land: 30% minimum deposit of the vacant land purchase price & all costs are payable by all clients for example: maximum loan to value(LTV) of 70%.

Un-serviced Land: A minimum of 40% of the property purchase price & all costs are payable by Namibian (CMA) residents for example: maximum loan to value (LTV) of 80%.

 

Further bond

This product allows you to register a further bond over the property to obtain additional funds.

 

Building loan

A building loan is used to fund the construction of buildings on an immovable property, or to make improvements on the property.

The building loan is covered by a bond. It enables you to make payments to the builder as the building progresses. 

 

Instalment to income ratio (ITI)/ Repayment period

The monthly Home loan instalment benchmark is not to exceed 30% of gross salary/joint income.

Complete, in detail, an income and expenditure home loan application. It will be scrutinised by the Home loans credit evaluation managers against your bank account statements.

Qualifying criteria

  • 3 months statement - Standard Bank Namibia clients
  • 6 months statement - Non-Standard Bank Namibia clients
  • Income and expenditure statement should reflect a surplus of not less than 20% of the monthly home loan instalment, after the deduction of all expenses, including the full home loan instalment

Features and benefits

Access bond facility

  • Allows the deposit and withdrawal of surplus funds from your home loan to your Standard Bank transactional account
  • Access bond withdrawals are only allowed up to 80% Loan to Value (LTV). This means the value of the property should be 20% higher than the balance outstanding, and which status can be achieved, because of the following;
  • You made additional capital deposit (s)
  • You repaid capital over a period of time
  • Value of the property has escalated over a period of time or due to improvements 
  • Only available to customers with a transactional account with Standard Bank Namibia

Take over Bonds as Access Bonds (Bond Cost and Home loan fees)

  • Bond cost and Home loans admin and assessment fees can be accommodated on home loan account, prior to the registration of bond.
  • Such cost and fees will then be deducted from pay-out to client on date of registration. Home loan limit to remain in line with credit approval limit (never to be increased / exceeded)

Further Bonds as access bonds (Bond cost and Home loan fees)

  • Bond cost and home loans admin and assessment fees can be accommodated on a home loan account, prior to the registration of bond. 
  • Such costs and fees will then be deducted from pay-out to client on date of registration. Home loan limit to remain in line with credit approval limit (never to be increased /exceeded)
  • Insurance options
  • Assurance options

Home loan protection plan

  • A Home loan protection plan (HLPP) is an insurance policy designed to cover your home loan in the event of death and/or disability. The policy kicks in straight away and your estate won’t have to use other policies to keep the roof over the heads of our loved ones

How do I apply

Visit your nearest Standard Bank branch or Home loan sales office, 1st Floor, Town Square Building, Windhoek with the following documentation:

  • Proof of your income & spouse’s income – if married
  • Certified copy of your identity document & spouse’s identity document – if married 
  • Marriage certificate, if you are married
  • Ante nuptial contract, if you are married out of community of property
  • Proof of residence

Contact us

Contact us on 061 294 2436 or 294 2360.