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ooba May results points to continued first time

ooba May results points to continued first time
23-06-14 / Staff Writer

ooba May results points to continued first time

The Average Approved Bond Size, at R818 955, showed a year-on-year growth of 8% and a month-on-month growth of 1.9%. This increase in average bond size was driven by a sharp decrease in the average deposit - being R128,131- which is 13.5% of the Average Purchase Price, down 20.6% year-on-year and 10.6% month- on-month.

"The reduction in the average deposit requirement is a positive sign of lender confidence in the market," says Rhys Dyer, ooba CEO.
";ooba's approval rate in May remained high at 72.1%, indicating that ooba continues to secure approval for more than seven out of ten home loans that it processes. With average approval rates from banks only slightly above 50%, the importance of ensuring that you approach multiple lenders to ensure you access the best terms for credit are very apparent" says Dyer.

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