FNB Realtors Club rewards estate agents

Thomas Slabbert, Head of Home Loans at FNB Namibia, said at a meeting of FNB Namibia’s Realtors Club on 11 April 2014 that “Apart from the mainstream home loan offering, FNB Namibia also tries to promote the affordable housing segment. Although we realise that a lot still has to be done to assist this segment of the market, we have noted strong growth numbers in this segment. FNB has entered into an agreement with the National Housing Enterprise (NHE), in which the bank has agreed to provide end-user finance on their behalf and allow them in turn to develop more houses. The bank has also engaged with several other developers of affordable housing projects in order to try and stimulate this segment.”
At a glittering event held for the first time ever in a big tent entirely made up of glass, Slabbert acknowledged all the achievers in the real estate industry while at the same time highlighting the importance of it.

Winners received certificates, cash prizes and the top ones also a variety of trips in and around Namibia, South Africa, top prize being a trip to Hong Kong and Singapore. The bank rewarded all estate agents with business exceeding N$5, N$10 and N$20 million and also crowned Lona van Wyk as Estate Agent of the Year, Stefan Lofty-Eaton Properties as Estate Agency of the Year, and Jimmey Construction as Developer of the Year.
At the event Thomas Slabbert also shared some FNB milestones with the audience and said: “The total mortgage book in Namibia has reached a level of almost N$24 billion, of which FNB has the largest market share of 38.4%. The FNB mortgage book on its own amounts to N$9.1 billion. FNB has maintained its prudent credit criteria throughout the past twelve months. “We would like to believe that our superior service standards and products contributed to the growth of our book by N$1.2 billion over the past year. Despite this excellent growth, our non-performing loans declined and have reached an all-time low of 1.10%, compared to the industry ratio of 1.50%. Hence we still have a focus on the sustainability of our business.”
Slabbert went on to say that the overall national property market has grown by 13.4%, pointing out that FNB Namibia had done even better by growing at 16%. He ascribed this to a number of factors such as the prevailing low interest making home ownership affordable, in conjunction with the constant supply of new sectional title developments, and with new houses being built at Omeya, Elisenheim, Kleine Kuppe and other smaller developments, with an increase in house prices on a year-to-year basis as reflected in the FNB property index. FNB Namibia had increased the number of FNB home loans consultants and the distribution of the sales consultants to more convenient locations across Windhoek, ensuring an improved service delivery to customer and home buyers.
“In addition, FNB is very committed to assist with the government initiative for development of mass housing. The Bank continues to engage roll players and is actively involved with assistance in this market. This includes the use of alternative building methods,” he concluded.