Tag: home loan

Astute property buyers are increasingly viewing pre-approval for home loans as the first step in the purchasing process. This step helps each buyer understand their budget. It also makes their offer more attractive to sellers.

For most people, purchasing a home represents the largest investment they will ever undertake, and carries emotional significance as a symbol of stability, security, and achievement. Property can offer much more than just a place to live – and it can also be a powerful investment vehicle capable of generating wealth, providing liquidity, enhancing cash flow, and diversifying one's portfolio.

It’s no secret that the Rand is incredibly volatile. Anyone who listens to the currency reports at the end of a news bulletin knows how big the swings (mostly in the wrong direction) any time there’s a major economic event at home and abroad.

As load shedding persists and solar gains popularity in South Africa, households are left with the decision of either buying or renting a solution. Solar solutions have taken centre stage in South African homes. The quest for an “always on” lifestyle has propelled consumers into a crucial crossroads: should you rent or buy your solar system?

Are you thinking of buying property? It is a big investment and needs careful consideration. Once the finance is approved on your dream home, you need to be able to keep it safe along with the belongings housed within it as well.

For those who have just won the Lotto – or in a more likely scenario – are exceptionally good at saving - choosing to buy a home in cash can have its advantages. However, this option also means forgoing tax benefits, and tying up a substantial amount of hard cash in a fixed asset for a long period of time.

It's not easy to get a mortgage on your dream home if you're not employed full time and earning a fixed salary. Freelancers, those working on commission or sourcing their income from gigs, and many other independent earners, often find themselves facing a brick wall when applying for a home loan from banks.

The COVID-19 pandemic has given rise to significant shifts in the residential property market. In the beginning, many were scaling back to clamber back on costs, however, as interest rates continued to dip between 2020 and 2021, many started to upgrade their homes and invest in bigger spaces.

As interest rates continue to rise, it is more important than ever to put down a deposit on your new home to keep your monthly bond repayments down. Inflation in South Africa rose to 5.9% in April 2022 and by the end of May, the Reserve Bank’s Monetary Policy Committee increased the repo rate by 100 base points to 4.75%.

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.