total replacement value of their home is equal to the sum insured , taking this additional installation into account .
Absa Home Loans customers can finance solar power systems by accessing unused equity in their mortgage , apply for a ReAdvance if the mortgage has been paid down , switch their home loan to Absa and apply for a higher loan amount if there is equity in the property , or apply for a personal loan or credit card .
FNB
Praven Subbramoney , CEO of FNB Home and Structured Lending Solutions , says the bank has partnered with suppliers such as LTM Energy , Averge Technologies ,
Erinite Energy and Ingwe Projects and Consulting to provide customers with residential solar systems at discounted rates of up to 20 %.
Customised packages are available with these partners on request , following a consultation that looks at the customer ’ s needs and an inspection of the property . An Eco-Home Solutions category has been created on the eBucks Shop where FNB showcases a few solar hybrid packages ( entry , small , medium and high ). A combination of cash , eBucks and finance can be used to fund these solutions , says Subbramoney .
This article originally appeared on Moneyweb . Please click here to view the orginal
About the Author
Ciaran Ryan is a Johannesburg based freelance writer who has a background in finance and mining , having previously headed up a gold mining operation in Ghana .
He currently writes for several SA and overseas journals on matters ranging from mining to investment .