Capitec has started dipping its toes into the home loans market by launching the Capitec Home Loans offering. Even though the bank is playing the role of a bond originator for its partner, SA Home Loans for now, Francois Viviers the bank's executive of marketing and communications says this is a start to having the one-stop shop bank that Capitec ultimately wants to become.
Capitec announced on Tuesday that it has partnered with SA Home Loans to launch its branded "digitally-led" home loans. But while the product is branded Capitec Home Loans, SA Home Loans is the lender that will be financing these loans from its balance sheet.
For Capitec whose role will essentially be a bond originator, much like Ooba does for other banks, Viviers said this partnership will afford Capitec the opportunity to learn more about this space while it wrestles with the decision whether it should venture into secured lending.
