TEBA has partnered with Lendcor to provide access to housing finance for our customer and communities. Lendcor loans are only paid out as building materials through a hardware store selected by the customer. Customers can realise or improve their housing over a period of time without the trap of getting large debt associated with a traditional home loan.
Lendcor products are also available to the public at large and not just to our mining industry linked customers. Close to R70 000 in building loans were processed during March, April and May, and this was while TEBA staff was still undergoing their training. An excellent start!
TEBA is also presenting the Lendcor model to the mines to encourage their support of a home ownership programme for mineworkers and feedback has been positive.
The initiative is another example of our repositioning campaign where we are venturing into other markets, broadening our horizons. The Lendcor product gives us the opportunity to do this and to help make a difference in people’s lives.