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Future Use example
If the purchase price of your home is N$800 000 and you register a bond of N$1 000 000, the additional N$200 000 is your Future Use amount.
| Payout amount | Future Use amount |
|---|---|
| N$800 000 | N$200 000 |
What amount do I qualify for?
Depending on an individual's application; there is no limit to the amount you may qualify for.
Can I apply for Future Use even though I have a normal Home Loan?
Yes, you can hence this offer.
Do I need a new valuation on my property?
FNB Home Loans will conduct a new valuation on the property only if the last valuation is more than six months old.
When can I apply for the Future Use amount?
When you require access to the Future Use amount you will have to apply for Future Use Withdrawal, with each application being subject to the bank's credit approval policy. The amount approved will be dependent on the value in your home coupled with your ability to afford the higher monthly repayments.
As a new customer, do I have to repay on the registered home loan amount?
No, your repayments will be calculated on the payout amount and not the registered bond amount.
Require more finance or access to cash? When the need arises for renovations, further properties or a big expense, these options can offer the funds you require.
With Pre-Paid Finance you can withdraw any additional money that you have paid into your home loan account.
With the pre-paid finance option you can:
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.
The FNB FlexiBond is a financial management facility on your home loan that gives you easy access to your surplus funds - 24 hours a day!
With a Flexibond you can
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.
