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FNB launches free valuation and stronger pre-approval tool

google-mapHome buyers have been doing things backwards all along: First they start with the home search and once they have signed the offer to purchase, find out if a bank is willing to finance their loan. This is according to FNB chief imagineer and former eBucks CEO, Jolandé Duvenage, who says consumers need a financial GPS to show them the shortest or fastest routes regarding their home buying journey.

“We want to put the customer back in the driver’s seat when they buy a home,” she said yesterday at the launch of nav>>, a digital tool which the bank believes its customers can use to find smarter ways of using their money. “We would like to help point our customers in the right direction when it comes to making wise financial decisions.”

The first phase of nav>> focuses on the home buying and selling process where nav›› Home customers can search for new homes, get free instant value estimates, pre-approvals, calculators and access to a database of home service providers.

The preapproval alone is different from what many other service providers, including banks, have been able to achieve to date and that is to incorporate credit bureau information together with what customers declare; this will provide a far more accurate and credible pre-approval with which customers can negotiate.

nav>> Home is accessible via the latest FNB 5.0 app as well as FNB Property Leader.

“There will, however, initially be no applications for loans via the app,” said Marius Marais, head of home loans at FNB. “We wanted to keep version 1.0 light and give customers the opportunity to provide feedback on what they do and do not like. But all the other features are available, including instant value estimates on properties, calculators and pre-approvals.”

Property Leader offers free area and property reports that are pulled from a number of sources, including the deeds office and the bank’s own valuation database.

Duvenage does not anticipate backlash from estate agents who generally provide valuation services for their clients, but believes it will benefit the consumer and the estate agency industry for each side to be better informed.

“nav›› Home gives customers control throughout the home buying or selling process and points out direct routes and clever shortcuts to navigating the home journey,” she said.

nav›› Home features

  • Free instant value estimates of a home which will help customers know what the property is worth before they make any decisions.
  • Assists with buying and selling a home and ensures that customers are not paying too much or selling for too little.
  • Search for their perfect home with thousands of listed properties to look at (you are also able to search for homes “nearby” when you are in a specific area, making it easy when you want to search for properties close to work/schools or when you are driving around in an area you like).
  • Free area and property reports to help compare prices and neighbourhoods:

The Area Report offers inside information on a particular suburb from the average price of other homes in the selected neighbourhood, the average increase or decrease in property prices, the types of homes and profile of the buyers.

The Property Report provides a free estimated value of residential properties customers might be interested in. It includes the last bought and sold price as well as an estimated current value calculated. The report is very useful for both buyers and sellers for determining that final selling or offer price.

  • Instant home loan pre-approval for qualifying clients which includes the maximum home loan they qualify for and the deposit needed.
  • Calculators that work out the monthly instalment amount and also give an indication of all the other costs involved, including transfer fees and bond registration costs.
  • Access to a database of home services in their areas, such as moving companies, plumbing services, landscapers and more.


David A Steynberg, managing editor and director of HomeTimes, has more than 10 years of experience as both a journalist and editor, having headed up Business Day’s HomeFront supplement, SAPOA’s range of four printed titles, digimags Asset in Africa and the South African Planning Institute’s official title, Planning Africa, as well as B2B titles, Building Africa and Water, Sewage & Effluent magazines. He began his career at Farmer’s Weekly magazine before moving on to People Magazine where he was awarded two Excellence Awards for Best Real Life feature as well as Writer of the Year runner-up. He is also a past fellow of the International Women’s Media Foundation.

Review overview
  • w pieterse 12th June 2017

    Ek wil my huis laat waardeur ek wil dit vekoop is n Fnb klient. Kontak my asb

  • Murvin Pienaar 5th February 2018

    Good Day to you,
    I would Like to have a valuation done on my house situated at No.300 Heimwee Crescent, Gelukdsal,Brakpan as I want to sell it.I am a FNB Client and would appreciate if I can get a prompt response as soon as possible.
    Best Regards,
    Murvin Pienaar
    082 573 1928

  • Moss 28th February 2018

    Wow, I had the opportunity of using this app on the property we wanted to buy with my wife. The app showed us the last purchase price and the current estimated value of the property. Thanks FNB, we nearly overpaid for the property and the seller and agent were pressuring us to buy at a high price which we declined after they refused our offer…

  • Marthinus C van den Berg 28th March 2018

    To whom it may concern,

    Hi I want to know how can you hold a valuator accountable for a wrong valuation done and know you sit with a big problem home you bought that’s R450 000 and even less worth that you bought it for?

  • Saron 4th November 2018

    How on earth does FNB get to value properties for less than the City of Cape Town. Either FNB is wrong or the City is wrong. If its the City then i am paying way too much on my rates account because FNB has seen fit to value my property for 500 000 less than the City.

  • Phindi 28th February 2019

    Good Morning,
    I would like to have a valuation done on a house we want to buy in Doornkop,Soweto.I am a FNB Client and would appreciate if I can get a prompt response as soon as possible.
    Best Regards,

    Phindi Nkosi