Guiding consumers since 2009

Homeloans coming back into fashion

By Staff Writer

The recession. The Global crisis. The difficulty of getting a homeloan. Times have been tough for a young person trying to get into the housing market. Not long ago the banks would not give a homeloan without a large deposit. This is now changing. Both ABSA and Standard Bank are offering full 100% homeloans and even 100% plus homeloans. This is great news for anyone who wants to purchase a home. So how can you go about it?

 

 

If you want to buy yourself a house but have been waiting for the market to improve the lending criteria is getting better. This could signal that the banks are feeling more confident about the economic situation, as they are lowering the onerous requirements that were in place only a few months ago. Over the last eight years the housing market was booming and there was an abstraction of book value to real value. Meaning that the housing market went up faster than was realistic, leading to the market crashing out.

The market crashed, this was originally brought on by the subprime mortgage crisis in the US. The knock on effects crashed housing out across the world but a large correction was in order anyway. The banks want the homeloan market to take off again but what no-one knows is if the market has reached the bottom yet before it can start the cycle of growth again. This is where a homeloan specialist can help you get the best value homeloan you can afford and advise you on when and where the homeloan market is going.

Recent Articles

Featured Travel ban – how to claim for the loss incurred

As with the recent Covid-19 pandemic, governments sometimes issue travel bans to prevent people from travelling to other countries. This becomes even more complicated if you’ve already planned and paid for your trip. Your flights will be cancelled, and you may lose money from cancelled accommodation arrangements. How do you claim for the financial losses incurred due to a travel ban?

How to finance and insure a second-hand vehicle

Buying a second-hand vehicle may suit your budget better than acquiring a new one. But what impact does an older model have on vehicle finance and car insurance? We reached out to specialists in the field to explain what the financial implications are of pursuing a second-hand vehicle.

Reading your loan agreement: look out for this

Many people don’t read their loan agreements. They just sign on the dotted line without realising that they could be signing their lives away. But it’s important to review your loan agreement before and after taking your loan to avoid future setbacks.

 

Part 1: The difference between good and bad debt

In the first part of our Debt-ucate series we explore the difference between good and bad debt and why debt is, in fact, necessary.

Deals

Udemy online course for R180

Price: R180
When: Until 27 March 2020
Where: Online

Educate your kids for free with Skills Share

Price: Free
When: Daily
Where: Online

Take advantage of payment holidays from Standard Bank and Nedbank

Price: Free
When: From 1 April to 30 June 2020
Where: Nationwide