How will the recent Interest Rate hike affect you?

Property and Mortgage News: Interest Rates On Thursday, August 16 the South African Reserve Bank announced another hike in interest rates, taking the prime lending rate from 13.0% to 13.5% This means, someone with a home loan of R500 000 taken out in June 2006 at the prime-lending rate of 10.5% now pays R1 045 a month more than in June 2006 to service that debt, following the Thursday’s rate hike – the sixth consecutive one in this cycle. Although, …

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Find out what you need to do, to secure your homeloan finance

Home Loan Advice: everything you ask for, you will receive Previously I explained that the first step to getting a homeloan and owning a new property is to: Find out what it is you really want. Make sure you have a clear picture in your mind of that new house you want to live in. Once you know what type of house you want and what area that you want to live in, the next step is to calculate what …

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