For most people, buying a house is going to be their biggest financial investment, and despite this we often give little serious thought to the fact we’ll be committed to paying a bond for the next 20 or 30 years. Another reason for this common oversight is that the large commitment is often looked at […]
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 […]
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 […]
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 […]
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% […]
The South African Reserve Bank cut interest rates by 0.5% last month (sept) to bring the prime rate down to 9.5%.
The cut was welcomed by many consumers and homeowners. A drop of 0.5% could translate to a huge saving over the full term of your bond. While, in the short term, it means more consumers are now better able to manage their monthly debt commitments.
Here's how the most recent rate cut will affect your pocket...
Interest Rates were kept unchanged yesterday (22 July 2010), leaving the prime interest rate at 10%. The South African Reserve Bank has put the breaks on rate cutting in recent months. The last interest rate cut took place in March this year. In total interest rates have been slashed by 5.5% since December 2008. But, […]