If your household income is between R3 501 and R15 000 per month, you could benefit from a government programme that could help you put a foot on the property ladder. As a first-time home buyer in South Africa, it’s not easy getting your foot onto...
With the average house price for a first-time buyer nearly reaching the R1 million mark, few people can afford to buy a home on their own. A R900 000 home loan will require a monthly repayment of R8 800 – this is before you have even started paying...
When you apply for a home loan, lenders will look at many factors before deciding whether to approve your application or not – and if you don’t “pass the test” for any one of these, they are quite likely to turn you down. “This is why it is so...
Making the move to the coast? Here’s how to lose less in an expensive transition. Many Gautengers dream of leaving their busy life in the big smoke and setting up a new, slower life in beautiful Cape Town. Unfortunately a lot of these dreams never...
If you want to draw down on the equity built up in your property, you may be in for a nasty surprise. Paragon Lending Solutions recently issued a press release warning investors and small business owners that if they try and access additional...
According to a 2016 Fin24 interview with Nicola D’Elia, managing director for Airbnb Africa and Middle East, South African Airbnb hosts earn on average R28 000 a month by making their property available for short-term let via the popular sharing...
When buying an investment property, you need to do your homework carefully to avoid your property becoming a financial ball and chain. While astute investors can make money, property has significant holding costs and is not as liquid as other...
If you are a Liberty customer you may want to take advantage of discounted shares in the new Liberty property listing. Towards the end of this year Liberty will be listing its premium property portfolio which includes the iconic Sandton City. The...
Applying for a home loan is stressful for most people, but this simple financial process can become disproportionately complex for entrepreneurs or freelancers ‒ people who have uncertain or unpredictable income flows. The rigorous affordability...
Should you throw all your spare cash into paying off your mortgage before even thinking about investing? As most mortgage repayments are set over a 20-year period, we looked at three possible scenarios in terms of accelerating mortgage repayments...
With interest rates rising and the economy slowing, is now the time to make the biggest investment of your life? There is one thing most economists agree on: our economy will continue to slow and we will see further interest rate hikes. Against this backdrop, property...
Morake writes: A friend of mine’s home loan is nearly paid off and she wants to know if she should close the home loan or keep it open. What is the procedure to closing a mortgage? Do you have to pay transfer duties to get the title deed? Maya replies: A mortgage...
Rebecca writes: I am a 36-year-old professional and single mother of two. I had planned that this would be the year that I would buy my own modest home. I have been listening to financial experts on TV saying that first-time home buyers must delay buying due to the...
In Episode 10 of the Change in your Pocket series, we give you practical tips on how to go about saving for a deposit on your first home. https://youtu.be/mTmjtAoE-Tw – Video supplied by BrightRock Welcome to The Change Exchange where we are discussing the ins, outs,...
If you have taken out a mortgage recently you would have noticed on your statement that the interest charged each month is nearly equal to your monthly repayments. In the first few years of your mortgage repayment, interest makes up a very large part of the payment....
Episode 9 of the Change in your Pocket series focuses on the running costs associated with home-ownership. https://www.youtube.com/watch?v=Hx_jjJ5SutM – Video supplied by BrightRock Welcome to The Change Exchange where we are discussing the ins, outs, trials and...
In episode 8 of the Change in your Pocket series, we continue the discussion around financing your own home by unpacking the transaction costs involved. https://www.youtube.com/watch?v=zqixEBSgOxA – Video supplied by BrightRock Welcome to The Change Exchange where we...
In a volatile interest-rate environment, it's important to keep your mortgage repayments stable. Episode 7 of our Change in your Pocket series looks at the financing of your home. https://youtu.be/QVhtGI_Zhcw – Video supplied by BrightRock Welcome to The Change...
As interest rates increase, many homeowners are starting to feel the squeeze on their monthly mortgage repayments and are understandably wondering whether or not to fix their mortgage repayments to provide more certainty around what their repayments will be in the...
A pension fund is usually the largest asset owned by an individual and it makes sense that it could be used to provide collateral for a home loan, especially for a first-time home owner. This benefit also encourages individuals not to cash in their retirement funds...