Demand for home loans increasing

Home loan applications from younger buyers have increased over the past year, according to recent studies. This is believed to be partly due to low interest rates and increased awareness among South African youths.

Investing in property and homes has not only become a lifestyle choice but it is seen as investment opportunity as well.

About 53% of all south african home loan applications have come from buyers aged between 22 and 28. And the average size of home loans for people in this age group tends to range between R300 000 and R400 000.

And according to reports by one mortgage originator, the country’s most affluent young purchasers are currently to be found in the north of Gauteng , Centurion, Pretoria and the Cape Peninsula .

The lowest interest rates in 30 years and fantastic investment returns are driving phenomenal growth in the property market. At the same time astute home buyers are demanding the best deal in home loans. IBO Home Loans fits the bill with low rates, the best advice and great cash-back commissions.