Re-Advance is a convenient loan facility. All you need is a home loan you've had for at least two years and met all your monthly payments!
The Re-Advance facility provides an alternative if you do not qualify for a FlexiBond or Prepaid Finance. Please note that if you fail to keep up with your monthly home loan repayments, this option could be cancelled.
With the Re-Advance option you get a loan without registering for an additional bond; quick access to cash when you need it (such as for holidays or renovations) and when you withdraw funds, the monthly repayment is automatically adjusted.
Future Use enables you to register a bond greater than the home loan amount you require, creating a surplus amount that you can access at a later stage
Future Use takes into consideration the hectic pace of life today and the fact that your needs change from one moment to the next. By planning ahead, you can use the available value in your home to your best advantage.
You only pay legal fees on the registered bond amount once and, as a result, save money in the future - but for this special offer we will cover your legal fees
You save time with a once off home loan registration allowing greater flexibility with future access to additional cash.
Monthly repayments are based on the funds that have been paid and not on the registered bond amount, making it more affordable.
You have long term security and accessibility to your funds.
If your property has increased in value, you may apply to use the additional finance on anything you choose, from home improvements to holidays abroad.
If your home has not yet increased in value, the Future Use amount can only be used for home improvements that will build additional value in your home.
You have to apply for access, with each application being subject to the bank's normal credit criteria.
If you are completing a new home loan application for Further Loan application, you will be given the opportunity to apply for the Future Use option.
First National Bank of Namibia Limited, Reg. No. 2002/0180.
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