SA Mortgage: Home Loans South Africa News
SA HomeLoans (SAHL) have launched an innovative Mortgage Option which allows homeowners the opportunity to pay only the interest portion on their monthly bond repayments.
South Africa’s largest non-bank Mortgage provider is taking home loans one step further into the future by giving homeowners even more flexibility when it comes to paying off their bonds.
With its latest Mortgage Product SA Homeloans is offering you the option of paying only the interest portion of your monthly bond repayments.
This mortgage option is expected to be welcomed by many homeowners as it allows you the opportunity to reduce your expenses during tough times while leaving you the option to continue paying the full installment and lower the outstanding bond amount.
“We are seeing a change in the mix of salaried versus self-employed people in this country, with an increasing number of people who are commission earners or who receive lump sum payments during the year rather than just a fixed monthly income. This product provides them with the flexibility and peace of mind during months when they might have lower cash flows,” the company said.
“They can pay the minimum installment every month, and pay lump sums when they get extra cash to ensure they still continue to pay off their home loan – something we encourage our clients to do,” said SAHL CEO Kevin Penwarden.