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 Fuel rewards programme – how to fill up on petrol and points

South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.

Are you entitled to your spouse’s pension after divorce?

Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.

Retrenched – which payments are you entitled to?

In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.

Do you want to settle your debt?

You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus. 

Deals

Builders Black Friday Special

Price: R5000
When: Until 29 November 2019
Where: Online

Café Rousse Monday Special

Price: Available on request
When: Mondays
Where: Nationwide

Skye Bar Mojito Special

Price: R55
When: Until 31 December 2019
Where: Johannesburg