Property Loans

About Property Loans

Co Founder of Mortgage Innovations

ABSA House Price Index [Apr 2012]

2012-04-23T10:13:01+02:00April 23rd, 2012|ABSA Home Loans, Home Loan News|

The value of property in South Africa have been declining since 2011, and this house price deflation has continued into March 2012, that's according to the April ABSA House Price Index. According to ABSA's senior property analyst, Jacques du Toit, the average prices of: Small Houses (80 - 141 sqm) declined by 19.1% to R620 700 Medium-sized Homes (141 - 220 sqm) declined by 0.6% to R961 600 Large Homes (221 - 400 sqm) declined by 0.4% to R1 476 00 "The latest trends in house prices are believed to be a reflection of macroeconomic developments and property-related factors such as running costs, impacting household finances. These factors may affect the demand for housing and cause changes in property

Foreigns Applying For Home Loans In SA Face Many Challenges

2012-04-05T11:11:32+02:00April 5th, 2012|Home Loan News|

image via flickr At first glance, it could seem as though securing home loans for foreigners is an almost impossible task, but equipped with the correct information your chances of getting the required property finance can increase ten fold. The tight lending criteria of our local banks, coupled with the additional requirements of the National Credit Act (NCA), has made securing a home loan in South Africa tougher even for South African citizens. As a foreigner, you are faced with the added trouble of dealing with the Home Affairs office, and the further restrictions imposed by the South African Reserve Bank. The banks are particularly weary of lending to foreigners, and therefor often require extra official documents to assess

Home Loans For Low Income Earners

2019-07-23T10:20:09+02:00March 15th, 2012|Home Loan Tips|

All the majors banks in South Africa now offer home loans for low income earners. These bonds are available to families who are unable to qualify for RDP houses, housing subsidies, or who were previously unable to meet the minimum requirements to secure a home loan from the bank. South Africa is currently experiencing a large emerging middle market that is driving demand for affordable housing. This trend has caused government to setup innovative products and initiatives between private developers and local banks to assist homeownership among lower income earners. These new affordable houses are typically priced around R300 000 and range between 50sqm and 80sqm in size. Below is a list of banks that offer home loans to

Benefits Of An Access Bond

2012-08-08T10:07:22+02:00March 12th, 2012|Home Loan Tips|

The benefits of an access bond has become so clear that most new home loan accounts are now access bonds too. The range of types of home loans available these days has grown tremendously, and all the major banks now offer Access Bonds. Basically, an access bond is a home loan that allows you to save extra monies into your home loan account, to help reduce the outstanding loan amount and the interest charged. The brilliance is that you still have access to all those extra funds. That means, if you paid an extra R200 into your bond every month, you would not only be charged less interest but all those funds would still be available to you. Unlike

The Best Home Loan Deal Won’t Always Come From Your Own Bank

2012-04-23T15:14:19+02:00March 8th, 2012|Home Loan News, Standard Bank Home Loans|

When it comes to home loans, there is a common misconception that your own bank is going to give you the best deal. While it would makes sense for the major banks to offer their own clients better services and products, in reality this rarely occurs for new home loan applications. Each bank has its own lending criteria and different methods of calculating risk. Although you may already have an existing profile with your bank, that bank might be reserving their best deals for a particular type of client, or for properties that meet a particular type of profile. There are a wide range of factors that could affect the banks' view of your application. Read More Here About:

How the banks’ internal client rating affects your home loan application

2012-03-07T11:00:41+02:00March 7th, 2012|Home Loan Tips|

Each bank has a system set in place which grades individuals on how well their accounts are managed as a whole. The best grading is normally reserved for those clients who have obtained a healthy balance between having a few credit accounts, as opposed to those individuals servicing too many accounts. It is advisable to limit the amount of credit profiles you have open, to approximately 4 or 5 accounts, before purchasing your first property. Although, the opposite of having too many account, is also not an option. You will need to have at least 2 accounts registered in your name to help create and build a repayment profile before applying for a home loan. Not only does the

More 100% Home Loans Being Approved

2014-09-22T21:29:40+02:00February 27th, 2012|Home Loan News|

While the banks have done very little to relax their overall lending criteria, there has actual been an increase in the number of 100% bonds being granted by the banks. Two of the most common questions we are asked is: How much home loan can I qualify for? and, How can I secure a 100% bond? For More Information: Read this Guide to 100% Home Loans The good news is that the banks are granting an increasing number of full 100% bonds, although the majority of applicants are still required to have at least a 10% deposit. Below are some instances where banks will consider offering your a 100% bond: Affordable Housing Buyers who earn less then R15 000