Guiding consumers since 2009

Fixed rate mortgages all the rage

By Staff Writer

Concerned home buyers flock to fixed-rate loans
From
Busrep.co.za
By Ethel Hazelhurst

Johannesburg - Ahead of an expected interest rate hike on Thursday - and probably more to come later in the year - more home buyers are opting for fixed-rate mortgages. Unlike variable-rate mortgages that go up and down with the Reserve Bank's official repo rate, fixed-rate loans remain in place for a period.

Justmoney.co.za says:

The credit crunch is here, rather than let it chew you up for breakfast, consider the type of home loan that you have. It is a good time now to switch to or take out a fixed rate mortgage. It is not expected that the interest rate will begin to fall for at least another 18 months. While you are considering this, take the time to calculate if you can consolidate your debts, and to check your home insurance.

Recent Articles

Featured What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Can your retirement annuity be used as collateral for a loan?

If you have a retirement annuity, you may have wondered whether you can use this as collateral when you take out a loan. We decided to do the leg work and find out whether this is possible or not.

Best travel cards offered by top South African banks

Planning a trip abroad involves a lot of administration. You need to consider travelling arrangements, reasonable accommodation, and a daily itinerary. But have you considered how you’re going to pay your bills once you arrive? Besides considering bank costs, you also need to consider exchange rates.

Best ways to save your money short-term

For many, it seems close to impossible to save when spending on holiday getaways, Christmas gifts, while also trying to ensure there’s money left to survive January. Justmoney takes a look at the best ways you can save during the short term.

Deals

Marble Gift Card Special

Price: From R1000
When: Until 25 December 2019
Where: Johannesburg

Trennerys Hotel and Camping Januworry Special

Price: R950
When: From 10 to 31 January 2020
Where: Centane (Eastern Cape)

Bakwena Standard Packages Special

Price: From R999
When: Until 31 December 2019
Where: Nationwide