Yesterday, the South African Reserve bank announced that the REPO rate is to remain unchanged. That means that the prime interest rate on home loans also remains unchanged at 9%
Home loans interest rates at current levels are still the lowest in 30 years, therefore if you are a first time home buyer and want to purchase, now is the time to enter the property market. Currently it's a buyer's market as there's an over supply of properties.
Banks are strict on granting home loans but it's not impossible if you have a professional bond originator on your side.
If you need help or information about getting a home loan approved, don't hesitate to contact me.
