Tag: credit score
The pros and cons of subletting a property
Property subletting is becoming popular in South Africa, largely because of aggressive interest rate increases and the high cost of living. Many people look for subtenants to help them pay their rent, while others seek to sublet if they’re moving elsewhere and can’t get out of their current lease.
Ways to achieve preferential interest rates on a home loan
Despite economic turbulence in South Africa, the repo rate has remained two basis points lower than it was before the pandemic’s onset in March 2020. This, combined with high approval rates amongst the banks, has created favourable home loan lending conditions for buyers.
The FLISP subsidy and you – what you need to know
We have partnered with the National Housing Finance Corporation (NHFC) to make the dream of home ownership a reality for first-time homebuyers who may not have been able to attain a home loan in the past. This has been made possible through the government introduced Finance Linked Individual Subsidy Programme (FLISP) that looks to close the ‘gap’ in the homebuying market.
Ways to improve your chances of getting funding
For most Small and Medium Enterprise (SME), funding and loans are vital to their ability to purchase equipment, expand the business and maintain cash flow through challenging times. But to maximise their chances of getting the loan, it’s vital that that they do their homework before approaching a funder.
How to rehabilitate your credit record as a tenant
In the wake of the pandemic, many face the reality of their meticulous credit records being negatively affected by the whirlwind of last year’s economic instability. Landlords and tenants alike have been affected due to income loss, leading to missed bond payments, downsizing and, unfortunate, if unavoidable evictions.
Applying for a home loan? Here’s what the banks are looking...
Applying for a home loan is the most important step on the home buying journey, but many first-time applicants are in the dark about what the banks – the institutions with the power to approve these home loans are looking for. The process is relatively straightforward, provided you have all your financial affairs in order.
Employee financial wellness key to improve productivity
Given the dire economic circumstances, coupled with ongoing challenges facing businesses, it has never been more important for employees to be prepared both from a financial and personal perspective to deal with unprecedented changes, while still maintaining focus at work.
Manage your credit before it manages you
The COVID-19 crisis is having a profound impact on South Africa’s economy with the GDP forecast to contract by as much as 7.1% in 2020, to an all-time low of roughly -8.5%. A wide range of industries came to an abrupt halt during the national lockdown, with businesses across the board struggling to stay afloat – mass job cuts, and for many others, pay cuts, loom.
Understanding debt consolidation: benefits and pitfalls
With the lockdown period having significant ramifications on personal finances, many consumers are asking about available options to assist in better managing their money. One option is debt consolidation, which in the right circumstances can improve current cash flows and save costs.
Relentless in the fight against fraud, 2020 and beyond
Bank hackers, email phishing scams and identity theft are synonymous with fraud in the financial sector. According to a statement by the South African Banking Risk Information Centre (SABRIC), more than R 800 million were lost over the last couple of years in South Africa due to fraud.
