By David Knott of Private Client Trust, the fiduciary services division of Private Client Holdings, and a member of the Fiduciary Institute of South Africa. When it comes to leaving fixed property to someone in your will, unless you have had...
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Want a pool? Read this before you take the plunge
Whether you are considering installing a swimming pool or want to buy a house that already has one, there are some things you need to know about the costs and responsibilities involved. Swimming pools are an integral part of South African culture....
Lessons learnt from building the “dream home”
As I am about to move into our newly built dream home, someone asked me if I would do it again. My first reaction was “never!” but then I thought about how much I had learnt and how much easier it would be the second time round, having learnt some...
Should you fix your interest rate?
With the 75 basis points increase in the prime lending rate since January this year, and analysts predicting further hikes in the interest rate, many people are asking whether they should fix the interest rate on their bond repayments. As with any...
No-deposit home loans
A recent survey in the UK found that young adults are increasingly relying on their parents to help them pay for a deposit for their first home. The survey conducted by mortgage lender Halifax found that the majority of parents believed they would...
Do you need to bank with the big four to get a home loan?
As banks become tighter about who they lend to, with preference going to their own client base, could banking with Capitec hurt your home loan application? This was a question posed by Akhona who has banked with Capitec for a long time. “I have...
How to save for a deposit
You can improve your chances of being granted a home loan or vehicle finance as well as the interest rate you are offered, if you have a deposit of 10 to 20%. With interest rates expected to increase over the next two years, banks are going to...
Starting a property portfolio
“I am 22 years of age and I work as a risk manager earning R18 000 a month. I am moving to Boksburg to be close to work and will be renting, however I see that Cosmopolitan is building affordable houses selling at R320 000. I am thinking about...
What determines your home loan rate?
“I bought a house 15 months ago and I have been paying about R500 extra. As a first-time buyer I received a +0.4 prime rate. Can I get the bank (Absa) to review and reduce my interest rate, if so what do I need to do and what will they be...
Investing in property as a club
Ewald Kellerman, Head of Sales at FNB Home Loans says that investing in property as a club brings with it certain challenges: Change in ownership/members of the rental club may be costly. The bank will hold the members liable for the loan, not the...
Previous Articles
Don’t rush into home ownership
Most young people have two main goals when they start working: to buy a car and to buy a home. Both of these are big commitments and if you have not done your homework properly, home ownership in particular could cost you more than you realise. Ewald Kellerman, Head...
Investing in residential property: is now the time?
Investing in residential property has fallen out of favour over the last few years. In 2003 around 25% of property purchases were for investment purposes; that figure has fallen to 8%, according to the FNB Property Barometer. These figures are hardly surprising when...
How to reduce your mortgage payments
“I would like to buy an R80 000 house and would like to know what my monthly mortgage payment would be,” writes Wilfred. Maya replies: How much you will need to pay each month to cover your mortgage will depend on your initial deposit and interest rate. By having a...
Township house price growth slightly ahead of suburbs
John Loos, property economist at FNB, analyses the trends in house price growth in South Africa, comparing the former "black townships" to those areas formerly known as "white suburbs". The areas formerly classified as "black areas" under Apartheid-era classifications...
Listed property’s bumpy road offers investment opportunity
By Ian Anderson, chief investment officer at Grindrod Asset Management South Africa’s listed property sector continued its slide during the week ending 31 May 2013, as the Rand breached R10/US$ and bond yields moved sharply higher. Having declined by 5.7% in the week...
Bankrupted by the body corporate
Sectional title is often the more affordable way to buy a home but it comes with its own challenges and you need to be a proactive resident to ensure your body corporate is run properly. A City Press reader was recently informed by her body corporate that she had to...
REIT legislation uplifts listed property sector
Ian Anderson, chief investment officer at Grindrod Asset Management, reviews the performance of the listed property sector over the past week. South Africa’s listed property sector soared more than 3% last week, as investors poured into sector heavyweights like...
What a first time homeowner needs to know
Buying a home is a financial plan not an emotional impulse. You need to have a strategy in place before taking on the commitment of homeownership Jana and her husband Bertie want to take the big step and buy their first home. This is a serious commitment for any...
Estate agents see weakening in property market
The latest FNB Estate Agent Survey found that after a much improved 2012 compared to 2011, the final quarter of last year showed a weakening in demand for property, possibly as a result of a weakening economy. A survey of estate agents is a good indicator of what is...
No home loans for non-FNB customers
Over the last ten years mortgage originators such as ooba and BetterBond have played a significant role in increasing the competitiveness of home loans. By assisting customers to shop around for the best rates bond originators forced the banks into a price war which...