We have pleasure in advising that the Standard Bank Loan to Value (LTV) policy in respect of clients introduced by our external partners has been reviewed.  The new policy is as follows:

LTV's for all New Loans (based on the total loan amount) will be considered as follows :

Customer qualification criteria

Only Standard Bank customers will be considered for 100% loans.   A Standard Bank customer constitutes a customer that has an active transaction, savings or business account with Standard Bank.  The account must have been open for a minimum of six months.

Should a customer apply for a 100% loan and not quality a counter offer will be made.

Implementation dates

The abovementioned change become effective as from 22 July 2010 and is anticipated to have a positive impact on the level of business that is granted.

All applications received prior to 22 July 2010 will be processed according to the existing criteria. This includes amendments done on loans received prior to 22 July 2010 that were approved before or after this date.

We look forward to our continued relationship and trust that the change in policy will result in additional business for our respective organisations.