No mercy for mortgage holders

In a bid to curb consumer spending and household debt the South African reserve bank announced on 0.5% hike in interest rates. This is the fourth interest rate hike for 2006 bringing the current prime rate up to 12.5% HOW DOES THIS AFFECT YOUR HOME LOAN? Repayments on a bond of R750 000 would have been about R7 487 before June 2006 when the first rate hike occurred in four years. Based on the current prime interest rate of 12.5% …

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4 Things you should know about buying a new Home

Talking Home Loans – Mortgage Tips:

thinking.jpgA part from being a good financial investment, property ownership is also about raising families and building a future for your family. Your home is often the biggest financial commitment we’ll have to make and it’s for these reasons that you need to be sure that you’re getting the best possible Mortgage Deal for your new property.

Here are 4 things you need to know about applying for finance for your new home:

1. Property Price
Before deciding to purchase a new home you need to consider its location relative to schools, transport, shopping centers. With this mind you then need to consider if the selling price is competitive. The local property market can be described as a Buyers market which means you currently have a lot of bargaining power.

2. What can you afford?
It’s very seldom that buyers are able to purchase a home without having to secure Home Loan finance. It’s therefore good to first find out how much you qualify for before you begin shopping around for you new home.
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Read more4 Things you should know about buying a new Home