Self-employed applicants are considered 'high risk" by banks because they tend to have unstable incomes. So proving you can afford to pay off a home loan can be an exercise in frustration. Of course, if you are employed by a self-employed person,...
Why ‘semigrants’ are following the money
South African "semigrants" – those people relocating to different parts of the country, rather than emigrating – are mainly moving for economic reasons, according to a survey undertaken by First National Bank. Relocation for work, or better...
Why hasn’t my property transfer gone through?
If you're buying or selling a property, here's something you may not have thought of: are your taxes up to date? If they're not, you can delay the transaction and even lose the sale – and on top of that, be liable for the agent's commission....
The pros and cons of coastal retirement
Coastal retirement seems like everyone's idea of paradise: beach walks, dips in the ocean and, of course, the view. But is your plan to buy a property that will appreciate in value so you can sell it later on? Or are you thinking of staying put for...
A revolutionary home ownership concept
First-time home buyers and self-employed potential buyers struggle to enter the property market. Nearly 50% of employed bond applicants are declined every month and about 58% of self-employed applicants can't secure home loans, which is not good...
An alternative to losing your home
What do you do if you can't keep up with your bond repayments and you're facing having your home repossessed? You could sell, but what if you owe the bank R1Â 000Â 000 but you can't get your asking price and the best you can get is R800Â 000? Selling...
