Unlocking Relief Within Your Bond: South Africa, 11 August 2020 – Your bond may hold the answer to easing cash flow in these uncertain times but think carefully before you make that decision. “The current economic climate is challenging for all of us. Many have lost their jobs, have had salary reductions, or are unable to trade as they could in the past,” says Paul Stevens, CEO of Just Property. While Stevens advises against dipping into your bond to cover something that could be put … [Read more...] about Unlocking Relief Within Your Bond – MyPR.co.za
bond
Bond Investors Alarmed Over U.K. Economy Turn to BOE for Answers – Lockdown News
Bond Investors Alarmed Over U.K. Economy Turn to BOE for Answers: The U.K. bond market is flashing warning signals to Bank of England Governor Andrew Bailey ahead of the central bank’s meeting next week.While traders don’t expect the BOE to alter monetary policy ... Source: "Coronavirus Lockdown" - BingNews. Boris Johnson postpones further coronavirus lockdown lifting as infections rise across England: Prime minister says he needs to ‘squeeze the brake pedal’ on relaxations for wedding … [Read more...] about Bond Investors Alarmed Over U.K. Economy Turn to BOE for Answers – Lockdown News
Best Bond, Best Approach – MyPR.co.za
Best Bond, Best Approach: South Africa, February 2020 – Buying a new home is exciting but daunting for anyone, especially first-time home buyers. Finding a dream home is the fun part. Getting property finance is an entirely different story. So, what is the best approach to home-loan applications? Paul Stevens, CEO of Just Property, helps to demystify the home loan application process. “One certainly feels a sense of confidence in dealing with the bank you have a history with, but new … [Read more...] about Best Bond, Best Approach – MyPR.co.za
What to do when you can’t afford to cover your bond repayments?
It’s every homeowner’s worst nightmare – realising that no matter how much you scrape and save, you just don’t have enough money to cover your bond repayments. With the cost of living escalating every day, it’s a situation that has become all too common in South Africa. Thankfully, experts say it doesn’t have to be the beginning of the end for your home. Leonard Kondowe, National Admin Hub Manager for Rawson Property Finance, shares his advice on what to do if you find yourself in this scary … [Read more...] about What to do when you can’t afford to cover your bond repayments?
How to buy property as an unmarried couple
More and more couples today are choosing to delay a trip down the aisle in favour of getting a foot on the property ladder. Of course, buying a home as unmarried partners has a few complications, but it’s not as difficult as you might think – particularly if you’re smart about it! “These days, it’s incredibly common for people to co-own property with friends, family or romantic partners,” says Bill Rawson, Chairman of the Rawson Property Group. “It’s a great way to maximise your buying … [Read more...] about How to buy property as an unmarried couple
What banks consider when assessing a home loan application
Most often, consumers rely on real estate agents or third parties to assist them with home loan applications. This results in them not fully understanding what banks consider when approving or declining an application. Mpho Ramatong, FNB Home Loans Division Channel Head, says first time home buyers can significantly improve their chances of qualifying by familiarising themselves with the common pitfalls that often lead to home loan applications being unsuccessful: Low credit score – this … [Read more...] about What banks consider when assessing a home loan application
Use your home loan account to save money
There are different ways to save money, but the most unconventional or perhaps least considered is saving through your home loan account. Kathu Ramoliko, Head of the Gold Sub-Segment at FNB, says “A home loan is a long-term financial commitment which takes years to repay, however, it can also be used as a savings tool over the life of the loan. In other words, as a homebuyer, the loan provider can structure your home loan in way that allows you to pay extra towards the loan. The benefit is … [Read more...] about Use your home loan account to save money
Don’t go into debt to raise a deposit
First time home buyers often get caught by surprise when banks ask for a deposit in order to secure a home loan. “When applying for a home loan, banks will access your credit status to establish whether you will be able to meet the bond payments. Depending on the outcome, you are either given a 100% bond or required to put down a deposit of between 5 and 20% of the loan amount,” says Lee Mhlongo, FNB Housing Finance CEO. To assist lower income first-time home buyers, most banks and FNB … [Read more...] about Don’t go into debt to raise a deposit
How to change R1000 into R6000
As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit! Of course, splurging all that extra cash on impulse buys is probably not the smartest move with costs rising. Wouldn’t it be great if there was a way to make our year-end bonuses work as hard for us as we did for them? Tony Clarke, Managing Director of the Rawson Property Group, says this … [Read more...] about How to change R1000 into R6000
Pros and Cons of a joint home loan
At some stage in life everyone aspires to have a home of their own, but circumstances such as not earning enough income to qualify for a bond can often come in the way. Fortunately, banks do allow individuals to apply for home loans jointly to be able to realise their dreams. Dr Simphiwe Madikizela, Head of Special Projects at FNB Housing Finance says a joint application can help increase your chances of qualifying as both parties’ incomes and expenses are taken into account to assess the … [Read more...] about Pros and Cons of a joint home loan
Should you fix your home loan interest rate?
Following the South African Reserve Bank’s move to keep interest rates at the same level, coupled with the notion that the bank may have reached the peak of its hiking cycle; home owners will probably be reluctant to fix their home loan interest rates. “Although there’s a good chance that interest rates may have peaked; consumers still need to tread with caution due to possible risks of further downgrades to our sovereign credit ratings. Therefore, home owners may find current fixed interest … [Read more...] about Should you fix your home loan interest rate?
Factors to consider when buying a second house
Whether you are planning to buy a second house to generate passive income or looking for bigger space for your growing family, there are a few factors to consider to avoid turning your good intentions into a costly setback. Tommy Nel, Head of Credit at FNB Home Loans, says owning a property or two could be a good step to start building wealth for households; however consumers who are taking this important financial decision should place emphasis on doing proper research to ensure they know … [Read more...] about Factors to consider when buying a second house
Approximately 80% of December bond defaulters will also miss January payments
Missed home loan repayments rise on average by more than 10% in the December period, according to FNB Home Loans. "We find that customers don't intentionally use their bond money, however early salary payments and overspending quickly puts consumers into a position where they aren't able to meet their debt responsibilities at the end of the month," says Calvin Ndlovu, head of operations at FNB Home Loans. Around 30% of FNB Home Loan customers are paid early in December. In order to help … [Read more...] about Approximately 80% of December bond defaulters will also miss January payments
5 Tips if you are struggling with your bond repayments
Your home loan is arguably your most important debt and asset. Staying on top of home loans repayments should be a priority, as normally one of your biggest monthly contributions; it is difficult to get back on top if you fall behind. "Everyone finds themselves stretched financially at some stage. With holiday debt still around, school fees just paid and interest rates up you may find yourself with no breathing room and your biggest and most important debt, your home loan, is suddenly a big … [Read more...] about 5 Tips if you are struggling with your bond repayments
The 2 noticeable Mortgage Market Share gainers
Mortgage Credit to Households continued to accelerate mildly, contributing to further acceleration in total Household Sector Credit growth Growth in Household Sector Mortgage Credit Outstanding continued to accelerate moderately in October, in lagged response to some mild strengthening in the housing market around 2013 and 2014. This has contributing to further slight increase in overall Household Sector Credit growth. Although the cumulative growth acceleration of recent months has … [Read more...] about The 2 noticeable Mortgage Market Share gainers
