Dear Client
Debt Consolidation - Minimum Criteria
The details below outline the minimum criteria our bankers apply when assessing applications. We are essentially looking for two things:
- Equity in a property to use to settle debt
- Affordability to service the new restructured loan
Minimum criteria that are applied for these loans:
- Equity to exceed R60 000.00
- Maximum loan period is 20 years
- Loan must be repaid by the age of 65
- Minimum age is 18 years
- Must be SA citizen
- No default on bond repayments over past 6 months
- No clients under Administration Order
- Client must not be under debt review or counselling
- Natural person only (no CCs, Companies or Trusts)
- Minimum bond amount R100 000
- Residential property only. Minimum value R154 000
Loan to not exceed 65% of value of property. Eg Value R1 million. Maximum loan R650 000.
Yours faithfully
New Heights Finance
New Heights 510 (Pty) Ltd t/a New Heights Finance
Reg No 2008/176089/023 VAT No 4490210012
Preferred Communication Method - Email: info@nhfinance.co.za
Fax: 0866 033 843 - Address : PO Box 1583, Wandsbeck, 3631