SA Home Loans started granting bonds to South Africans since 1999 and since then has grown it's client base rapidly due to their innovative way of looking at home loans.
Some of the advantages of using SA Home Loans to get a bond approval are:
1. Criteria
They differ from normal commercial banks in that they will still consider you for a loan if you've had credit problems before, however, they need to be paid up and you must have the proof.
They have taken the stance that they will simply price the loan according to the client's criteria, but won't just give a NO if there is merit in the application.
Pricing the home loan would involve approving it at a higher interest rate or granting a lower amount or both, because of the risk involved.
Therefore, the applicant may only get a 80% bond.
2. Flexible Packages
Read the rest of this article about SA Home Loans <- here.
Friday, November 12, 2010
Thursday, November 11, 2010
Review on SA Home Loans Options
Interesting post about SA Home Loans and what products they offer:
http://knol.google.com/k/knol/Search?q=review-on-various-sa-home-loans-options
http://knol.google.com/k/knol/Search?q=review-on-various-sa-home-loans-options
Monday, October 25, 2010
Beware When consolidating debt
Always ask as many questions as possible, and if you can, get the advice of an independent person.
One of the pitfalls of debt consolidators is that they conceal Administration with debt consolidation.
If they put you under Administration it's a court order taken against you that for a certain period - minimum 5 years - you are not allowed to get any further credit anywhere.
They don't settle your debts!
These companies don't settle your debts, they simply make arrangements with the creditors to pay them off - unfortunately so much interest is charged that it's difficult to make a dent in the debt.
Make sure of your facts and always read everything before signing.
For more debt consolidation information visit our website on: www.globalproperty.co.za
One of the pitfalls of debt consolidators is that they conceal Administration with debt consolidation.
If they put you under Administration it's a court order taken against you that for a certain period - minimum 5 years - you are not allowed to get any further credit anywhere.
They don't settle your debts!
These companies don't settle your debts, they simply make arrangements with the creditors to pay them off - unfortunately so much interest is charged that it's difficult to make a dent in the debt.
Make sure of your facts and always read everything before signing.
For more debt consolidation information visit our website on: www.globalproperty.co.za
Sunday, September 26, 2010
How To Create A Debt Consolidation Plan
Debt Consolidation - Many people are in debt struggling to pay their monthly bills. Most people are looking for help in creating a debt consolidation plan in hopes to be able to afford their payments and still be able to live. Some people will go to a consumer credit counseling agency, but many people are learning how to do it on their own.
Having a debt consolidation plan, individuals can determine the best way to get out of debt. There are so many different methods to getting out of debt, but all of them require you plan it out and budget it correctly. This will also help the individual to stay out of further debt.
Click here to read the rest of this debt consolidation article...
Having a debt consolidation plan, individuals can determine the best way to get out of debt. There are so many different methods to getting out of debt, but all of them require you plan it out and budget it correctly. This will also help the individual to stay out of further debt.
Click here to read the rest of this debt consolidation article...
Thursday, September 16, 2010
Drop in Interest Rates
The banks have dropped their prime lending rate to 9.5%. What does that mean for you? Well, your R500 000 home loan will no longer cost you R4785pm but R4624pm
R750 000 home loan will no longer cost you R7177pm but R6936 pm
R1 000 000 home loan will no longer cost you R9570pm but only R9248pm.
This also means that if you want to refinance or take out a 2nd bond you'll qualify for a little bit more - now is the time, contact us today: http://globalproperty.co.za/contactus.html
R750 000 home loan will no longer cost you R7177pm but R6936 pm
R1 000 000 home loan will no longer cost you R9570pm but only R9248pm.
This also means that if you want to refinance or take out a 2nd bond you'll qualify for a little bit more - now is the time, contact us today: http://globalproperty.co.za/contactus.html
Saturday, August 28, 2010
Monday, June 21, 2010
Want A 2nd or 3rd Bond? Be Careful!
If you are considering taking our a 2nd or 3rd bond to consolidate your debt, make sure you work with a professional home loans consultant.
There a quite a few pitfalls and traps one could walk into if you are not careful.
1) Debt Consolidation Pitfall 1 - Refinance
Many people wanting to consolidate debt want to take a 2nd bond, and unknowingly actually refinance. Now, that's not a bad thing if you are told upfront and you know what you're letting yourself in for, but if you didn't know, and now you start paying a bond all over at 20 years again, you'll be very angry.
Tip: If you don't want to refinance, tell your debt consolidation expert that you want the 2nd or 3rd bond to run along with the original bond.
2) Debt Consolidation Pitfall 2 - Fall Back into Debt
If you have taken a bond to pay off your debt, you already have an additional amount to pay. Don't fall into the trap of thinking that you now have all this credit available on those credit cards and that you can start spending again. If you do you'll have the same debt burged plus the additional payment of the 2nd bond.
Tip: If you have paid off your credit cards, cut up the cards and close the accounts. If you feel you absolutely must have one for emergencies or for your petrol expenditure, close all but one.
Remember, consolidating your debt into your bond is a good thing, if you take the wise route and avoid the pitfalls mentioned about.
For more tips or if you want to consider responsible debt consolidation loans, contact your debt consolidation expert today.
There a quite a few pitfalls and traps one could walk into if you are not careful.
1) Debt Consolidation Pitfall 1 - Refinance
Many people wanting to consolidate debt want to take a 2nd bond, and unknowingly actually refinance. Now, that's not a bad thing if you are told upfront and you know what you're letting yourself in for, but if you didn't know, and now you start paying a bond all over at 20 years again, you'll be very angry.
Tip: If you don't want to refinance, tell your debt consolidation expert that you want the 2nd or 3rd bond to run along with the original bond.
2) Debt Consolidation Pitfall 2 - Fall Back into Debt
If you have taken a bond to pay off your debt, you already have an additional amount to pay. Don't fall into the trap of thinking that you now have all this credit available on those credit cards and that you can start spending again. If you do you'll have the same debt burged plus the additional payment of the 2nd bond.
Tip: If you have paid off your credit cards, cut up the cards and close the accounts. If you feel you absolutely must have one for emergencies or for your petrol expenditure, close all but one.
Remember, consolidating your debt into your bond is a good thing, if you take the wise route and avoid the pitfalls mentioned about.
For more tips or if you want to consider responsible debt consolidation loans, contact your debt consolidation expert today.
Monday, March 22, 2010
Debt Consolidation Loan
Calling all home owners and non-home owners - if you want to consolidate your debt but you are blacklisted - contact us because we can still help you.
Of course, there are some rules, but we can help the majority of people (not debt review or administration unfortunately)
So why not contact us for a debt consolidation loan today.
Of course, there are some rules, but we can help the majority of people (not debt review or administration unfortunately)
So why not contact us for a debt consolidation loan today.
Friday, January 8, 2010
Home Loans: Pitfalls of Refinancing Too Often
SA Home Loans: There are times when it make sense to refinance you home loan like when you are lowering your interest rate enough to make a noteworthy difference in your mortgage payments or when you significantly decreases your loan term.
Another benefit is you need to consolidate your debt to improve cash flow. However, do not make the mistake of converting short term debt into long term debt. Rather keep the repayment short so that you can derive the maximum benefit from refinancing.
You have to carefully consider if refinancing your home loan will be beneficial to you not just in the short term, but over the long term too.
One mistake that a lot of people make is that instead of making refinancing a once off event , they apply for a refinance loan every time there is a little bit of equity available.
Some think that if they consolidate some of their high interest debt in the process that they’re basically debt free. However, except for decreasing your equity each time you refinance you are also increasing your home loan debt.
Instead of paying off your mortgage debt you have increased your loan term. If you refinance too often, although your monthly payments may go down it will cost you a lot of money over the long term.
Keep in mind that in the beginning of your home loan the largest part of your payment goes toward interest and not towards the reducing your capital. So, if you refinance too often you’ll end up paying the maximum interest for a very long time.
If you want to protect your equity use it as wisely as possible.
To find out more perks and pitfalls on SA Home Loans, visit our website through the links.
Another benefit is you need to consolidate your debt to improve cash flow. However, do not make the mistake of converting short term debt into long term debt. Rather keep the repayment short so that you can derive the maximum benefit from refinancing.
You have to carefully consider if refinancing your home loan will be beneficial to you not just in the short term, but over the long term too.
One mistake that a lot of people make is that instead of making refinancing a once off event , they apply for a refinance loan every time there is a little bit of equity available.
Some think that if they consolidate some of their high interest debt in the process that they’re basically debt free. However, except for decreasing your equity each time you refinance you are also increasing your home loan debt.
Instead of paying off your mortgage debt you have increased your loan term. If you refinance too often, although your monthly payments may go down it will cost you a lot of money over the long term.
Keep in mind that in the beginning of your home loan the largest part of your payment goes toward interest and not towards the reducing your capital. So, if you refinance too often you’ll end up paying the maximum interest for a very long time.
If you want to protect your equity use it as wisely as possible.
To find out more perks and pitfalls on SA Home Loans, visit our website through the links.
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