COMPETITION FOR SA BANKS

On the 1st of October 2007 a new home loans provider entered the SA market with a bang!!!!

Large retail banks will soon be facing new competition with the launch of Integer, a company that will target clients with lower-cost home loans and transactional banking services in a banking industry described as “tired”, indifferent and a bit boring.

Integer is headed by Simon Stockley or MR SA HOME LOANS.
Simon pioneered securitized finance when he founded SA Home Loans in 1999.
To an extent Stockley will be replicating what he did eight years ago with SAHL ……
…but what’s different this time?

Integer will not only offer home loans, in addition Integer will offer its clients a credit facility
and free Internet banking. The Credit facility will be linked to a Visa debit card.
What makes this facility different to a credit card?
For one the interest, on the Integer facility you will be paying the reduced Integer interest rate as you pay on your home loan, not the normal high credit card fees.

Integer will also compete on interest rate, South Africans are drowning in interest payments
and they have committed to slashing costs.
In a home loans market characterised by poor service and high cost, Integer believes that the market is hungry for a fresh option. Integer is looking for SA home owners and new buyers
that are tired of poor service, high interest rates and costs.
Integer will strive to approve home loans in 48 hours, faster than the normal four to seven days.

As an Property owner you would agree the time has come for more competition in the home loans industry. We can no longer afford poor service and banks that “cherry pick” through your new applications.

The benefits are numerous but the most beneficial is that they allow you to deposit your salary into the bond account, making it possible to use your bond as a transaction account. The benefit lies in the fact that the additional cash in the bond reduces the interest payable and the term of the bond.
This is a unique product in SA this should make the commercial banks sit up and take notice