Ah South Africans! Blinded by politics, multicultural in every way, revered by the world... But man, do we suck when it comes to money?
We're a country of proud people. We've survived some of the most severe political turbulences the world has ever seen. We beat it all. Despite all the challenges our country still faces, we have a proud heritage.
Maybe that's why so many of us refuse to adm... ››› more
What if I told you there's a simple way to knock six years off your bond repayments and save R302,084.63. in the process?
Would you believe me if I told you that you can pay your bond off faster, without increasing the amount you pay each month?
In fact, you won't have to make any drastic changes to your lifestyle at all. I've found a special solution to help you do just that. Just wait un... ››› more
Perhaps even before you start looking to buy a property, you should consider the financial side.
When you apply for a bond, the bank will take three things into consideration.
So what are these factors?
Let's take a closer look…
Getting a bond to buy your property
Banks look at three main aspects when assessing an applicant for a bond to buy a property. It’s worthwhile you’... ››› more
Buying a new house is an exciting venture, but there are so many things to do.
One thing that the majority of homeowners need is a bond. Once the seller of the property you want to buy accepts your offer to purchase, you need to sort out a bond.
So should you look for a bond yourself or make use of a bond originator?
Here's why you should opt for the latter…
Why do all the leg wor... ››› more
Buying a property is likely to be the largest financial purchase you'll ever make. So it pays to make the right decision when it comes to getting a bond for your property.
One of the things you'll need to decide before deciding on your bond is the term to take it over. Do you opt for 20-years, 25-years or 30-years?
Don't let the idea that you're saving money on monthly repayments by opting f... ››› more
This year, after several years of holding interest rates at historic rates, the South African Reserve Bank hiked rates 0.75%.
If you're a homeowner, unless you have a fixed-rate bond, this means your monthly repayments have gone up.
Nedbank says it's already seeing homeowners struggling with the interest rate hikes so far. So how much more can you expect to pay if rates go up in the future?
... ››› more
If you've tried getting a home loan from one of our big four banks in the past year you would've noticed it's not easy to do…
And if you're a property investor the banks are even more difficult to convince to lend you money.
In fact, for every ten home loan applications the banks receive they decline between four or five.
So what do you do if you want a better than 50% chance of getting ... ››› more
If you've got some cash to spare each month, have you considered putting it into your house bond? There are numerous benefits, not to mention that these overpayments are tax free. And you will reduce the term of your bond. Read on to uncover the advantages of overpaying your bond…
The great thing about overpaying your bond (as with any debt repayment) is that the savings compound for as long a... ››› more
Investing is all about trading off risk and return. To get high returns, you usually have to risk losing money. Playing it safe means accepting lower returns. And with interest rates at historic lows, life has become a lot tougher for conservative investors in recent years. Read on to find out why your house beats the bank…
Hold your money in a savings account and you’ll be lucky even to mat... ››› more
The rand has been in a downward spiral for a few weeks now. And it's set to stay muted ahead of today's interest rate decision. If interest rates stay low, you can breathe a sigh of relief because you'll be able to pay off your home loan sooner with less interest to worry about. But what if interest rates rise…
Today’s expected consumer inflation data and the central bank's interest rat... ››› more
Times are tough. That's why, despite the economy doing an uptick, more than half of all home loan applications are either denied outright or are accepted ofr amounts far below the value required. Luckily, you can use this three-point checklist to find out if a bank will accept your request and grant you a home loan before you even apply...
“Just how do banks decide who gets a loan and who doe... ››› more
“To fix or not to fix; that is the question”. With interest rates at their lowest in 30 years and fears growing about future increases this year, you may be asking yourself whether now is the right time to fix the interest rate on your home loan? Here's what you need to know before you do…
Predicting what interest rates are going to do is a popular sport. A quick dig around turns up a wid... ››› more
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