# Tennant Group – Home Loan Options for Diversified Umbrella Fund Members
In this informative video, Steve Tennant, Managing Director of Tennant Group, and a sponsored trustee of the Diversified Umbrella Funds, shares the exciting news of the approval granted by the National Credit Regulator for in-fund home loans available to the members of the diversified umbrella fund.
The Diversified Umbrella Fund has taken proactive steps to offer competitive and favorable home loan options directly within the fund, ensuring that members do not face the drawbacks associated with outsourced credit providers. By allowing members to take a home loan directly from their share of the fund, Tennant Group has ensured that the loans are not affected by investment drawdowns and do not require sureties, reducing potential mismatches and costs for the members.
### Home Loan Criteria and Process
Members interested in applying for a home loan from the Diversified Umbrella Funds must meet specific criteria, such as fund membership, monthly contributions, and property ownership. The loans can be used for various purposes, including property acquisition, maintenance, and improvements.
To determine the available share of fund benefit and apply for a home loan, members can utilize the Tenant app or contact the administrators directly. Additionally, a credit check is required to ensure affordability of repayments. Once approved, the loan amount will be paid into the member’s bank account, and monthly repayments will be deducted from their salaries, streamlining the repayment process.
### Transparency and Legal Compliance
Tennant Group emphasizes the importance of legal compliance and transparency in the home loan process. Members are provided with detailed information, including the terms and conditions outlined in the home loan agreement. This ensures that members are fully informed and aware of the implications of borrowing from their retirement fund.
Overall, the initiative benefits both the fund members and employers, providing a convenient and affordable mechanism for enhancing homes and creating better living environments. To learn more about the home loan options available through the Diversified Umbrella Funds, feel free to contact Melanie Neman or Marie Hutton at the Tenant offices.
*For more information on the Diversified Umbrella Funds, visit the official [Tenant Group](https://www.tennantgroup.co.za/) website.*
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