More home loans approved

File: Banks are relaxing their lending criteria and approving financing at levels last seen 12 years ago.

File: Banks are relaxing their lending criteria and approving financing at levels last seen 12 years ago.

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JOHANNESBURG - Banks are starting to dish out more home loans.

They're relaxing their lending criteria and approving financing at levels last seen 12 years ago.

That's according to the latest data from home loan comparison service, OOBA.

It shows the approval rate increased by 4.3 percent compared to the same time last year, with over 83 percent of OOBA home buyers successfully securing a bond.

It boils down to the negative real property price growth we've seen recently, making property more affordable for buyers.

With required deposit amounts also decreasing, it appears to be a buyers' market.

Source
eNCA