Home Loans

Here’s why you shouldn’t wait to buy your next house

Now is the time to get into the property market, or to invest further into residential property if you already own a home. Besides being a basic need, property values are growing fast and the pace is expected to increase even further!

ABSA predicts property prices will increase by 6% in 2010

ABSA Home Loans' senior property analyst, Jacques du Toit, believes that your property is set to grow in value by 6% in 2010. His prediction is backed by data from the ABSA Mortgage Advances Report published on March 30, 2010. The report focuses mainly on the the size and number of home loans granted by the banks on a monthly basis.

Prime Interest Rate Cut to 10% in March 2010

On March 25th, 2010 the South African Reserve Bank (SARB) cut interest rates by 0.5%.The prime rate moved from 10.5% to 10%. The Prime Interest Rate is used by the major banks on their home loan products. How Does This Interest Rate Cut Affect Your Pocket?

ABSA extends their 110% bond offer

Six months after they reintroduced the 110% home loan, ABSA have announced that they are updating the requirements for their 110 percent bonds to include clients who earn a maximum income of R15 142 per month. The previous limit was R11000 pm.

Property prices are increasing. Is it time to buy?

The ABSA House Price Index for Feb 2010 shows that property values have increased in every major category. And Jacques du Toit of ABSA Home Loans, predicts that your property will grow by 6% in 2010. Here's why buyers are facing near perfect property conditions...

The value of your home is growing by 6%

Property prices and property values are continuing to increase. That's according to the FNB House Price Index for February 2010. In his report, John Loos of FNB Home Loans, highlights that the value your home has grown by 5.8% from Feb 2009 to Feb 2008. This growth rate is much better than January's figures of 3.6% year-on-year growth. But they're still lower than inflation, which is currently above 6%.

How to secure a 100% Home Loan

Which banks are offering are currently offering full 100% bonds? The four major mortgage providers in South Africa are regularly changing their lending criteria.