Although the process of securing building finance differs slightly from a traditional home loan, it is still governed by the National Credit Act and the same banking policies and lending criteria still apply.
Category - Property
Make sure you understand how your access bond works.
A lack of retirement savings has seen a significant demand from pensioners to use their homes to access capital, especially for medical costs.
If you have a R1m home loan, payable over 20 years at the current prime interest rate of 10%, you are set to pay more than R1,3m in interest by the time you’ve paid off that bond and the home is finally yours.
Your joint mortgage may form part of your partner’s debt review without your consent.
Many consumers who are eager to finalise the house-buying process often rush into taking out and ceding life insurance without first doing their homework.
Many of us have either been the victim of an unscrupulous builder or know someone who has been. What steps can we take to protect ourselves when building that dream home?
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.
If you can't afford to buy a home on your own, you can apply for a joint home loan, but be aware of some of the issues that could arise.
Considering a move to the coast? Here’s how to lose less in an expensive transition.