The home loans are sought after by people who need to buy a home but lacks the required money. These loans enable a person to buy his dream house and repay the amount in installments. The people of South Africa can count on the Standard Bank Home Loans, which offers affordable and beneficial home loan plans.

The Standard Bank is among the leading mortgage and finance lender entities of South Africa. As a matter of fact, it is the holder of 30% market share and is the second biggest Mortgage lender of the republic. In the financial year 2007, the bank reported a 20 percent increase in its home loan business. When one considers the economic slump property industry went through the year, the credibility of Standard Bank becomes obvious.

Standard Bank has 4 different types of mortgage packages for the customers. Among them the important ones are JumpStart, DreamStart, and AccessBond etc. The plan named DreamStart has been developed for catering to the needs of the consumers with a limited income and budget. These people can give shape to their dream of buying a home with the help of this Standard Bank Home Loan policy.

The usual repayment period for DreamStart is 20 years. The financing is generally provided for 80% of the buying cost. If a person does not possess the 20% deposit needed, the bank will require him to give collateral. Even if a person does not have anything to provide as collateral, the bank will ask him to arrange for a guarantor. A person gets the option of repaying the loan amount in both varying and fixed interest rates. The period for fixed interest rates can last up to 2 years.

A person can make Mortgage repayments by means of debit orders. If one does not possess an account he is usually given the chance of opening E-Plan account. It is also possible to make additional deposits. If one makes additional deposits he makes savings on his interest. AccessBond is a facility which enables one to access the extra deposits he makes in his Standard Bank Home Loan account.

If a person wants to apply for DreamStart he requires earning around R 6,000 every month. He also needs to meet the credit requirements of Standard Bank. The applicant also needs to have an identification document of South Africa. However, one needs to keep in mind that he can apply for DreamStart only if he desires to buy or develop a home in South Africa.

The Standard Bank Home Loan DreamStart offers the consumers a reward program. If a person who has taken the loan makes his payments in time, after two years he earns the qualification for getting rewards. A significant factor is that people applying for home loans more than 100% of the purchase cost get Disability, Retrenchment and life cover. For further information on the home loans offered by Standard Bank one can log on the site homeloans-southafrica.co.za.