Wendy Beaumont, Executive for Unsecured Lending at Nedbank, looks at the pros and cons of taking out a personal loan versus refinancing your existing home loan in order to pay for renovations. Property is one of the most valuable assets you can...
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Money Bootcamp: The hidden costs of homeownership
Homeownership represents a significant milestone for many South Africans, but the true cost extends far beyond the purchase price. In our latest Money Bootcamp discussion, Mapalo Makhu and I unpack the unexpected expenses that can catch first-time...
What happens to your home loan if you separate?
Marriage and homeownership are two significant life milestones, and they’re often closely linked. But as relationships evolve, circumstances can change and when two people who co-own a property decide to go their separate ways, it raises various...
How to avoid rental scams
Growing demand for rental properties – combined with limited availability – has made South Africa’s housing market a fertile hunting ground for fraudsters. Rental scams are on the rise, as prospective tenants scramble for accommodation. Rising...
Short-term letting: know your complex’s rules
With short-term letting – and more specifically, letting through Airbnb – ramping up in South Africa, disgruntled owners and tenants are voicing their concerns when it comes to short-term letting properties contained in complexes, estates and...
Use the rate cut to pay off your mortgage
The recent rate cut provides a great opportunity for you to make a dent in your mortgage. When the Monetary Policy Committee recently voted to cut interest rates by 25 basis points, many households – especially those with mortgages and car finance...
Listen: Navigating the financial maze of buying a home or car
Buying a home or a car is one of the most significant financial decisions you'll ever make. It can be an exciting journey, filled with dreams of new beginnings and the thrill of ownership. But, as our latest podcast episode reveals, it’s also...
Is the Discovery home loan a good deal?
The Discovery home loan is the latest product from the financial giant, offering an interest-rate discount to qualifying clients. But is it worth switching? Discovery Bank recently launched its home loan offering, which is a joint venture with SA...
SA elections and property: buy now, sell later
This year, almost half of the world's inhabitants will head to the polls to elect their new governments, including eight of the world’s 10 most populous countries. “In South Africa, we can expect our own election to put the property market into a...
How the interest rate affects the property market
The prevailing interest rate is one of many factors that influence the decisions being made by home buyers and sellers. With interest rates currently high, prospective buyers and sellers must carefully evaluate the implications of their decisions....
Previous Articles
Is a pension-backed home loan a good idea?
A pension-backed home loan is an alternative form of housing finance where a person uses their pension savings as security for a home loan. When you apply for a home loan, the bank will consider the property as security for the loan but will also look at your risk...
Why investing in property is not low-risk or passive
Investing in property can be a great investment, but be sure that you understand the risks. I recently ran a survey on social media to understand what asset classes people invest in. The majority of women prefer property over investments such as unit trusts or...
Tab still running on paid-up home loans
Hundreds of thousands of South Africans have paid-up home loans which may still be costing them money. Homeowners may not be aware that in some cases, their paid-up mortgage will continue to attract fees unless they have canceled the bond over the property and have...
What you need to know about evicting a tenant
For most landlords, evicting a tenant is a last resort. It is a complex, expensive process that takes a long time and is emotionally taxing. However, with the Q2 2023 PayProp Rental Index revealing that the number of tenants in arrears has risen to an alarming 18.4% –...
Planning to own a home
For most young people buying a home is a financial priority, but a home is a significant purchase and it’s important to get your finances in order first. Two of the Absa/City Press Money Makeover contestants are preparing for this big step. Molefi has no short-term...
Fixed installments ‒ but at what cost?
An offer from your bank of fixed installments on your home loan might seem like great news, but be aware of the costs further down the road. Standard Bank announced that it is providing some breathing space for more than 20 000 home loan clients by fixing their...
Should you extend your home loan to make ends meet?
If you're a homeowner under financial pressure, one way of reducing your monthly expenses is to extend your home loan. Homeowners in South Africa are under immense financial pressure these days due to the high interest rate coupled with the increasing cost of living....
Building vs buying a home
When it comes to finding a new home, the building vs buying question is ever-present, and deciding between buying an existing property or building from scratch can be daunting. “There are numerous factors to consider including location, customisation options, and...
Is a R51k salary enough to comfortably afford bond repayments?
Viral Twitter thread sparks property industry debate Recently, a hypothetical question was posed around what South Africans could afford on a R51 000 net salary. This became a trending topic on Twitter, sparking debates over whether these earnings would be enough to...
How banks assess affordability for a home loan
With interest rates at their highest levels in 14 years, many would-be homeowners are finding it difficult to meet the affordability requirements for a home loan. According to the latest statistics from ooba Home Loans, while the country’s average purchase price for a...