SA Home Loans

Home Loans South Africa

You deserve the best deal and interest rate for your Home Loan to ensure that your bond repayments are kept as low as possible.

You could be saving thousands of Rands on your bond just by taking the time & making the effort to ensure that you get the best deal for yourself by investigating all the available SA home loans & bond providers.

If you accept the first home loan you are approved for, you could unnecessarily be paying a massive extra amount in interest over the term of the bond.

How to Ensure You Get the Best Home Loan Deal?

How can you be sure that you get the best & lowest interest rate for your home loan?

Despite it being far more difficult to secure a home loan these days as banks & bond providers are now required to perform more due diligence on borrowers than in the past in terms of the new credit act.

However that doesn’t mean you have to accept the first offer that comes up & accept the given interest rate.

To ensure that you can negotiate a favourable interest rate for your bond, these points may apply;

• First of all make sure that your credit record is up to date, correct & without any problems.
• With a good credit history you will have a good chance of getting a bond approved and if you disposable income is sufficient you will be in a good position to negotiate a low interest rate for your new bond.
• If you have a good payment history for vehicle lease or hire purchase agreements this will stand you in good stead.
• Also if you have an existing bond that is in good standing you will have the upper hand in negotiating a low interest rate which will save you loads of money in interest payments in the long term.
• Another thing to bear in mind when signing for your home loan is to ensure that you choose the correct option for you when opting for either a linked or fixed interest rate.
• With a linked rate, the interest amount you are paying will be affected by hikes or decreases in the repo-rate so if the reserve bank announces a decrease in the repo-rate your minimum monthly payment will be reduced.

Finally, if you are blacklisted or have a judgement & you are listed on ITC it is unlikely that you will be successful in getting a home loan at all.