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Ooba Statistics December 2016

Category Newsletter: HeadOffice

 ooba maintains the best quality applications in the industry, along with the best processing systems and methodologies, ensuring that ooba delivers the highest quality approval rate with the least delays.

For access to multiple lenders and experts who know how to position the bond for optimal success, partner with ooba. ooba understands how important the deal is to you, and we have the capability to motivate and escalate your deals with our banking partners, ensuring that the bond has the highest probability of being granted.

Some relevant statistics for the month of December 16 follows. These statistics are being shared with you, our business partners, to give you insight into the current lending environment so your buyers’ expectations can be effectively managed and you can feel confident of results.

1. Successful bond approval rate by one bank:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

54.4%

57.3%

-2.9%

52.5%

1.9%

The most favourable approval rate was 55.5% and the least favourable was 49.8%. Approval rates are trending lower year-on-year primarily due to homebuyers facing affordability constraints in a rising interest rate environment, compounded by inflationary pressures. Applications with deposits continue to have a higher rate of approval than 100% bond applications, which banks are currently extremely cautious on.

2. Additional successful bond approval rate by multiple banks:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

29.6%

33.8%

-4.2%

30.9%

-1.3%

This signifies the opportunity to secure an approval from another bank on applications initially declined by one bank. These statistics illustrate the benefit of ooba’s value proposition to real estate by having access to 10 banks to acquire an approval.

3. Total bond approval rate across all banks:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

71.9%

75.1%

-3.2%

71.8%

0.1%

With one of the highest approval rates in the market, ooba continues to secure approval for more than seven out of ten applications that we process, which is a compelling reason for real estate to use ooba’s origination services, particularly under the current tougher economic conditions.

4. Bank Turn-Around Times: (Percentage of Loans Granted with 5 Days)

Dec 2016

Nov 2016

Oct 2016

Sep 2016

Aug 2016

84.7%

76.7%

77.7%

85.7%

87.6%

The fastest service delivery by an individual bank was a 5 day grant ratio of 92.4%. The slowest service delivery by a bank was a 5 day grant ratio of 59.7%

5. Average Weighted Rate Concession:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

0.32%

0.31%

0.01%

0.41%

-0.09%

6. Average Rate Concession in the Top 10th Percentile:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

-0.75%

-0.90%

0.15%

-0.74%

-0.01%

7. Average Deposit:

Dec 2016

Dec 2015

Change

year-on-year

Nov 2016

Change

month-on-month

17.1%

18.3%

-6.6%

17.5%

-2.3%

Author: Century 21 South Africa

Submitted 24 Jan 17 / Views 1008

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