HomeVision offer
Terms and conditions
1. The promoter
Nedbank Limited, registration number 1951/000009/06 (we, us, our), runs this promotion. We reserve the right to make it available to qualifying clients only.
2. Promotion period
The promotion will start on 01 March 2024 and run indefinitely.
3. Who can and cannot participate in the promotion
3.1 A participant (you, your) must:
3.1.1 be a natural person;
3.1.2 have a valid South African ID; and
3.1.3 be 18 or older.
3.2 You may not participate in this promotion if you are:
3.2.1 a juristic entity, including a partnership, trust, company, or close corporation;
3.2.2 a Nedbank Commercial Banking client;
3.2.3 applying for a building loan, a readvance loan, further loan, endorsement or switch loan (switching your existing home loan from another financial institution);
3.2.4 buying in a new development where all costs are included in the purchase price;
3.2.5 looking to finance structural improvements of your home, vacant land or an unbonded property (property for which the loan has already been paid in full); or
3.2.6 a participant in our first-time-homebuyer promotion.
4. The offer
4.1 Our HomeVision offer allows you to register a bond for an amount higher than the required loan amount. This allows you to access either a portion of the surplus amount registered or the full amount registered in the future.
4.2 If you take up our HomeVision offer and you meet the qualifying criteria and all the terms and conditions, you could get up to 50% off on the bond registration cost from a Nedbank-nominated panel attorney.
5. How the offer is given out
5.1 If you qualify for the offer, the following applies:
5.1.1 If you take up the HomeVision offer at the beginning of your home loan application, you can apply for a readvance later to access the surplus amount registered. The readvance application will be subject to our internal credit lending criteria, lending policies and practices (as amended from time to time) as well as a property valuation at the time of your request.
5.1.2 The amount you qualify for will be based on both your affordability and the property value.
5.1.3 Your monthly loan repayments will be based on your home loan amount and not the registered amount.
5.1.4 Your repayments will increase only if you are approved and receive part, or all, of the surplus amount registered.
5.1.5 You will not have to apply for a further loan and incur the bond registration cost associated with it. Simply ask for a readvance, which is a much quicker process and costs you less.
6. General
6.1 All information about this promotion, including information that is published on any promotion material, is part of these terms and conditions.
6.2 By participating in the promotion, you agree to be bound by these terms and conditions.
6.3 These terms and conditions are available on our website at nedbank.co.za throughout the promotion period.
6.4 We may ask you to consent in writing to endorsing, promoting and advertising any of our services, without payment. If you decline our request, you will still receive the offer.
6.5 By entering and participating in this promotion, you acknowledge that your personal information needed for the promotion will be shared with us and our agents, but only to the extent necessary for this promotion. Your personal information will be used in line with South African consumer and data protection laws.
6.6 We may amend, extend, shorten or cancel the promotion immediately and without notifying you if it is permitted by law, if we must do so by law, or for reasons beyond our control. If this happens, you will give up any rights that you may have in terms of this promotion and you will have no recourse against us or our agents, contractors, or sponsors as a result of the extension, shortening or cancellation.
6.7 We or our directors, employees, agents, or suppliers will not be responsible for any direct or indirect loss or damage resulting from your participation in the promotion, or for any accident, injury, harm, costs, or death that you or any other person who participates in the offer sustains at any point during the fulfilment of the offer.
7. More information
For more information about the promotion call us on 0800 555 111.