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Standard Bank lends R31-billion for homes
Standard Bank financed almost half of all the new homes bought in the past year according to The Sowetan, which claims the bank has helped provide stability and liquidity to the local property market.
According to Funeka Ntombela, head of home loans at the bank, says that the number of mortgage applications processed last year increased by 71% last year. He says that low levels of lending by banks are depressing prices in the local property market.
Standard Bank says the outlook for the property market remains flat because the lack of lending is depressing property prices and placing additional risks on high value homes that are more difficult to sell.
Read the full article on www.sowetanlive.co.za.
