your guide to money

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Got a burning question about personal finance?
Why not get one of our panel of experts to help you find the answer!

Sbusiso Kumalo
Capitec Bank
Head of Channel Marketing

Gideon van der Westhuysen
Senior Business Manager
Nedbank Credit Cards
Debt
DebtBusters

Luke Hirst
Debtbusters MD
Registered Debt Counsellor

Rudi Visser
Bondbusters MD
Mortgage expert

Brendan Els &
Lawrence Blake
Blake & Els, Wealth & Risk

Gidon Alter
Ecommerce Sales Manager
SA Gold Coin Exchange

Stefan vd Linde
Finalyz.co.za
Tax Expert

Malcom Main &
Haroon Abdoolla
Principle health broker
DirectAxis Health
BANK ACCOUNTS
CREDIT CARDS

Luke Hirst
Debtbusters MD
Registered Debt Counsellor
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HOMELOANS
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Recent Homeloans questions:

- I am paying off a new ABSA home loan of about R150 000. I want to know if I should transfer all my money in my day-to-day savings account to the bond, as the bond has the higher interest rate? It is an access bond so would I still be able to draw as needed from that? From: Debbie

- I would like to apply for a loan of R300 000 and have property to the value of R1.2 million as well as two other businesses and a farm. How do I go about securing a loan? I only need the money for about 18 months until my pension is paid out to me. From: Andre

- We were behind with our bond and just discovered that it was sold on an auction. The bank didn't even inform us about this we just saw it being advertised in our local newspaper. Is this legal? An estate agent bought it and now they selling it for R239 000. From: Elin



Rudi Visser
Bondbusters MD
Mortgage expert
LIFE INSURANCE

Brendan Els
Lawrence Blake
Blake & Els, Wealth & Risk
Recent Life Insurance questions:

- I would like to know about insurance to cover my bond when my wife or I pass away. At the moment we have one insurance policy which we thought was with: Hollard which is the Administrator and Guard Right which is the Underwriter and OOBA. (I do not know what they are but they also get my money). When reading their combined policy under the article death cover it stated that only when the first life insured passes on that the policy will pay out although their service centre confirmed that both me and my wife are covered, this paragraph still tells me that only when she as the first life insured passes on then only will the policy pay out, not when I die that mean that she will still sit with the bond payment. Please help and advice what to do as we have this policy since 2004 and never received any documents with a long correspondence we only received documents of this policy in January 2010. From: Vernon

- Not sure if you gents cover this but I'm giving it a shot. I've just resigned and the company has terminated my Provident Funds (Alexander Forbes) now I would like to transfer the money to another Fund instead of getting the money and having to pay tax on it. Do you have any suggestions or advise on what I should do or who I can contact? From: Charmaine

- I just want to know if I can take life insurance for my mother. She is a low income earner (R1500 pm) and has no matric. Is this permissible by law? My concern is my sisters should she pass on. From: Thuli


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INVESTMENTS
MEDICAL AID
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