Showing posts with label home loans. Show all posts
Showing posts with label home loans. Show all posts
Monday, January 16, 2012
Wednesday, October 26, 2011
Sabric says Beware of home loan scams
Source: www.news24.com
Johannesburg - Beware of scamsters offering to bail out debt-ridden home owners, the SA Banking Risk Information Centre (Sabric) said on Monday.
"The banks are concerned about the relentless offers doing the rounds," said Sabric CEO Kalyani Pillay.
"These offers are, in actual fact, calculated scams that may result in homeowners losing their properties."
Distressed home owners should discuss repayment options with their banks rather than taking up offers promising bail-outs.
There were numerous variations of the property rescue scam and they often appeared to involve a legitimate consultant with a listed telephone number and website.
"They advertise their services through newspapers and outdoor signage, and they also use court foreclosure notices in newspapers to source details of their victims," Pillay said.
Consumers taking up their offers often ended up in worse debt or even losing their homes, she said.
In one variation of the scam, fraudsters offer to bail out the home owner who unknowingly signs documents handing over his property for sale.
Home owners may be told if they surrendered the property title and stayed on as renters, they could buy back the property once the matter has been "fixed".
Instead, they end up losing the property.
Sabric advised home owners not to do business with companies or individuals saying they could stop a foreclosure process or telling them not to contact their bank.
Consumers should not ignore letters from their bank.
If you're concerned about your situation and want some home loans advise, don't hesitate to contact me on www.gpfmortgage.co.za
Tuesday, September 27, 2011
Mortgage reducing program
Mortgage pertains to the loan or lien on the asset or house that need to be paid on a particular period of your time.
Mortgage loans are the necessary liabilities within the world these days. Mortgage or home loans procedures in widespread differ from twenty to thirty years. There are huge numbers of ways in which of lowering the mortgage loans.
Refinancing mortgage is one kind however even now it's advantage in a position when the mortgage interest is huge than the present cost of interest.
You'll be able to be in a position to refinance the mortgage loan and use the benefits of reduced interest price. This lower the monthly payments and thus you'll be able to create the payments very easily even before the date promptly.
You have to avoid unwanted insurance coverage rates. Both are same type of mortgage loan and cope with borrower payment as little funds as down payment. The fees are charged on month-to-month basis and men and women are unknown of these fees last until 78 p.c of the balance principal quantity.
Thus apply now these fees can be posted on the mortgage by lowering the term. You'll additionally bust the month-to-month payment in to weekly terms. The calculation of interest is finished on the day after day.
Recently people today prefer to avail the road of credit as the everyday account of usage. Because of everyday calculation of interest, the larger you lower the principal the more you gain. The methodology is to from monthly huger installments to mortgage that is line of credit and draw quantity from when required.
This largely lowers the term and you can be in a position to avoid wasting huge quantity on the interest. Considering of these techniques, you've got to work out which is suitable for you to use.
Whilst selecting a mortgage dealer, you have to be very careful. You have to check varied aspects of them before picking for your purposes.
Mortgage loans are the necessary liabilities within the world these days. Mortgage or home loans procedures in widespread differ from twenty to thirty years. There are huge numbers of ways in which of lowering the mortgage loans.
Refinancing mortgage is one kind however even now it's advantage in a position when the mortgage interest is huge than the present cost of interest.
You'll be able to be in a position to refinance the mortgage loan and use the benefits of reduced interest price. This lower the monthly payments and thus you'll be able to create the payments very easily even before the date promptly.
You have to avoid unwanted insurance coverage rates. Both are same type of mortgage loan and cope with borrower payment as little funds as down payment. The fees are charged on month-to-month basis and men and women are unknown of these fees last until 78 p.c of the balance principal quantity.
Thus apply now these fees can be posted on the mortgage by lowering the term. You'll additionally bust the month-to-month payment in to weekly terms. The calculation of interest is finished on the day after day.
Recently people today prefer to avail the road of credit as the everyday account of usage. Because of everyday calculation of interest, the larger you lower the principal the more you gain. The methodology is to from monthly huger installments to mortgage that is line of credit and draw quantity from when required.
This largely lowers the term and you can be in a position to avoid wasting huge quantity on the interest. Considering of these techniques, you've got to work out which is suitable for you to use.
Whilst selecting a mortgage dealer, you have to be very careful. You have to check varied aspects of them before picking for your purposes.
Friday, July 22, 2011
Home Loans Rates Remain Unchanged
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.
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.
Monday, May 9, 2011
Struggling to get a 100% home loan?
Have you been hearing horror stories about banks only approving 60% or 70% loans?
Well they are totally true. Many people have been applying for 100% loans but have only been granted 70% or 85% which still leaves them way out of pocked for the rest, and that’s not to mention the transfer and registration fees that must still be paid.
The good news however, is that it’s only a horror story if you are working with someone that is not experienced enough to determine where to place the bond and not.
Also, it’s best to give a client realistic expectations from the word go.
Therefore, work with an experienced mortgage broker who will be able to offer you sound advise and give you realistic expectation.
100% home loans are not that easy to get these days, but it can be done.
If your joint income is less thanR16 000 pm you shouldn’t have a problem because you should be able to get a cost included bond providing you meet the minimum criteria.
Contact us for more information on how to get no-deposit or low deposit home loans
.
Well they are totally true. Many people have been applying for 100% loans but have only been granted 70% or 85% which still leaves them way out of pocked for the rest, and that’s not to mention the transfer and registration fees that must still be paid.
The good news however, is that it’s only a horror story if you are working with someone that is not experienced enough to determine where to place the bond and not.
Also, it’s best to give a client realistic expectations from the word go.
Therefore, work with an experienced mortgage broker who will be able to offer you sound advise and give you realistic expectation.
100% home loans are not that easy to get these days, but it can be done.
If your joint income is less thanR16 000 pm you shouldn’t have a problem because you should be able to get a cost included bond providing you meet the minimum criteria.
Contact us for more information on how to get no-deposit or low deposit home loans
Thursday, March 24, 2011
Buying Jointly? Not Married? Think Ahead!
Here are a few points to keep in mind when unmarried parties buy a house together. Should the relationship not work out:
1) What are you going to do about the mortgage payments? Both parties are jointly and severally liable, so if the one can't afford it the other will be asked to pay and vice versa. Non payment will negatively affect both profiles.
2) If the parties are in a partnership and one wants to sell, but the other either does not want to or cannot buy out the other party, what then?
3) One of the parties wants to marry another, then that home loan repayment will affect the affordability of the new couple.
These are very important points to keep in mind before deciding to purchase a property with another person. The information mentioned here is not to put anyone off from buying, but so that you can enter into a contract with eyes open.
I also suggest that similar points are set out by an attorney should things not work out that there is a pre-agreed way to either buy out the other person or to dispose of the property in an amicable way.
If you have any questions relating to home loans or home loans financing, please do not hesitate to contact me.
1) What are you going to do about the mortgage payments? Both parties are jointly and severally liable, so if the one can't afford it the other will be asked to pay and vice versa. Non payment will negatively affect both profiles.
2) If the parties are in a partnership and one wants to sell, but the other either does not want to or cannot buy out the other party, what then?
3) One of the parties wants to marry another, then that home loan repayment will affect the affordability of the new couple.
These are very important points to keep in mind before deciding to purchase a property with another person. The information mentioned here is not to put anyone off from buying, but so that you can enter into a contract with eyes open.
I also suggest that similar points are set out by an attorney should things not work out that there is a pre-agreed way to either buy out the other person or to dispose of the property in an amicable way.
If you have any questions relating to home loans or home loans financing, please do not hesitate to contact me.
Friday, January 21, 2011
NEED A HOME LOAN?
I wanted to share with you a really touching appreciation letter I received from a client this morning:
Dear Zulika
Once again ,I would like to thank your for the exceptional service that you render.I would definitely recommend you to any first time buyer so that this smooth transition leaves them with no stone unturned and with peace of mind of being in safe hands and achieving the best deal possible.With your words of wisdom & insights of how the banks operate is the best security a person could ask for especially when the nitty gritty is concerned and a first time buyer could easily be mislead.You definitely have the highest of abilities to help people aquire a dream of owning a home of their own.
Regards
D.Chetty
So, if you need a home loan and you would like to use our service, please do not hesitate to contact us.
Dear Zulika
Once again ,I would like to thank your for the exceptional service that you render.I would definitely recommend you to any first time buyer so that this smooth transition leaves them with no stone unturned and with peace of mind of being in safe hands and achieving the best deal possible.With your words of wisdom & insights of how the banks operate is the best security a person could ask for especially when the nitty gritty is concerned and a first time buyer could easily be mislead.You definitely have the highest of abilities to help people aquire a dream of owning a home of their own.
Regards
D.Chetty
So, if you need a home loan and you would like to use our service, please do not hesitate to contact us.
Monday, January 3, 2011
How to Get a Home Loan Without Using a Bond Originator
In many circles bond originators are in the same popularity category as lawyers and accountants, therefore many people these days are seeking to rather go directly to the banks so that they have more "control" over the application.
Below are the tasks involved in obtaining home loans on your own:
1) You would need to complete at least 5 different application forms if you are hoping to get a fair chance at choosing a competitive package
1.1) This means that you would either physically need to drive or walk from one bank to the other, or, for those who are more Internet savvy, complete online applications.
2) If you have opted for the "going into each bank" route, you would also need to have originals or copies of originals of your bank statements, ID and latest payslip.
2.1) If you have opted for the online application you are going to have to send 5 different faxes and hope and pray they actually receive it. In most cases you are going to have to send your faxes.
3) Phone each bank each day and follow up on the application. It usually takes an average of 4-5 working days to process, so that means you're going to have to phone each bank each day for 4 days, that's 20 phone calls. You also better hope that the home loans department doesn't cut you off, ask you to call later because they're offline, or that they keep you holding so long you HAVE to call again.
4) Should there be complications, or if your application is declined, you have to deal with a call centre, so, because you don't speak to the same person every time you have to explain the story over and over again - hopefully that's not the case at all the banks.
The above is NOT an exaggeration.
The bottom line is, if you don't have a private banker looking after your needs, and in most cases that doesn't even help, it is better to deal with a reputable bond originator that is experienced and is committed to assisting you.
Their service is free and they go through the hassles explained above on your behalf.
If you want to apply for a hassle free home loan then don't hesitate to contact us today on: info[at]gpfmortgage.co.za (replace the [at] with @)
Below are the tasks involved in obtaining home loans on your own:
1) You would need to complete at least 5 different application forms if you are hoping to get a fair chance at choosing a competitive package
1.1) This means that you would either physically need to drive or walk from one bank to the other, or, for those who are more Internet savvy, complete online applications.
2) If you have opted for the "going into each bank" route, you would also need to have originals or copies of originals of your bank statements, ID and latest payslip.
2.1) If you have opted for the online application you are going to have to send 5 different faxes and hope and pray they actually receive it. In most cases you are going to have to send your faxes.
3) Phone each bank each day and follow up on the application. It usually takes an average of 4-5 working days to process, so that means you're going to have to phone each bank each day for 4 days, that's 20 phone calls. You also better hope that the home loans department doesn't cut you off, ask you to call later because they're offline, or that they keep you holding so long you HAVE to call again.
4) Should there be complications, or if your application is declined, you have to deal with a call centre, so, because you don't speak to the same person every time you have to explain the story over and over again - hopefully that's not the case at all the banks.
The above is NOT an exaggeration.
The bottom line is, if you don't have a private banker looking after your needs, and in most cases that doesn't even help, it is better to deal with a reputable bond originator that is experienced and is committed to assisting you.
Their service is free and they go through the hassles explained above on your behalf.
If you want to apply for a hassle free home loan then don't hesitate to contact us today on: info[at]gpfmortgage.co.za (replace the [at] with @)
Friday, November 19, 2010
Banks Drop Interest Rates
Interest rates are at a 15 year low after the reserve bank announced a drop in interest rate of 0.5% - bringing the prime lending rate to a low 9%
Now is the time to do your sa home loans application.
Monday, October 25, 2010
Are banks still giving 104% home loans?
Do you need a home loan and don't have a deposit?
Don't dispair, banks are still giving 104% home loans subject to certain conditions and requirements.
Check out my latest video post as to what is involved.
Don't dispair, banks are still giving 104% home loans subject to certain conditions and requirements.
Check out my latest video post as to what is involved.
Sunday, October 17, 2010
Can You Get A 100% Home Loan?
How can you get a 100% loan from the banks. Check out my latest video in the Q & A series.
Home Loans
Home Loans
Thursday, September 16, 2010
Home Loans and Divorce: How It Affects Your Home and your Mortgage
I don’t like writing about negative things, but the reality is that today divorce is common-place due to various factors including pressure and financial strain. When the decision is made to separate a marriage is normally a very hard and difficult time. An unfortunate aspect of a divorce is the splitting of your combined assets. This includes your home.
By getting impartial information on options about your home it will make vital decisions during this stressful time easier.
The first step is that you must to decide who, if anyone, wants to live in the house. Many times neither party wishes to stay in the home due unpleasant memories. Other times, there may not be any choice on which party will stay at the house.
I’ve written this article to help you understand what your decision will mean to you financially and where you will live.
Can you afford to move? Will you have to refinance? If you do move what can you afford?
Home Loans & Divorce: 4 CHOICES
Click to read the rest of this home loans article
By getting impartial information on options about your home it will make vital decisions during this stressful time easier.
The first step is that you must to decide who, if anyone, wants to live in the house. Many times neither party wishes to stay in the home due unpleasant memories. Other times, there may not be any choice on which party will stay at the house.
I’ve written this article to help you understand what your decision will mean to you financially and where you will live.
Can you afford to move? Will you have to refinance? If you do move what can you afford?
Home Loans & Divorce: 4 CHOICES
Click to read the rest of this home loans article
Saturday, September 4, 2010
Saturday, August 28, 2010
Home Loans Made Easy
To view all my Home Loans related articles, click the link or ask my any related question on http://gpfmortgage.co.za/contactus.html
http://ezinearticles.com/?expert=Zulika_Van_Heerden
http://ezinearticles.com/?expert=Zulika_Van_Heerden
Friday, August 20, 2010
Can You Trust Your Bond Originator?
I’m writing this article today because I had an interesting experience the other day. It’s happened many times before, but when it happened again I thought: "I must write about this".
Somebody phoned me and asked me if we were able to apply to banks where she had already applied.
I replied that we couldn’t because then it would be a duplicate application, but I asked why?
She explained that she had worked through the estate agent’s bond originator and that she was getting no feedback.
I got a grin on my face….
Click Here to Read the rest of : Can You Trust Your Bond Originator?
Somebody phoned me and asked me if we were able to apply to banks where she had already applied.
I replied that we couldn’t because then it would be a duplicate application, but I asked why?
She explained that she had worked through the estate agent’s bond originator and that she was getting no feedback.
I got a grin on my face….
Click Here to Read the rest of : Can You Trust Your Bond Originator?
Tuesday, August 17, 2010
Interest Rate Hike Warning!!!!
In the latest Property Barometer newsletter, Johan Loost, property strategist at FNB has warned of possible interest rate hikes in the future.
What does that mean to you? So where to from here?
Well, he suggests that now is a time to tread with caution for a few reasons:
• Firstly, at 10% prime, history suggests that we may be at or near to the bottom of the interest rate cycle.
Interest rates will go up at some point. History also tells us that recent rate hiking cycles have been by 4 to 5 percentage points.
It is essential to be pro-active and make financial provision for the possibility of a 4-5 percentage point interest rate increase at some point in future, and if you cannot fund such an increase, rethink expenditure commitments.
• Secondly, there is the important issue of massive future hikes in Eskom tariffs in the next 2 years, and similar increases in municipal rates and other utilities’ tariff cannot be ruled out, given the need for big infrastructure upgrades in the coming years.
I would suggest that significant provision be made for such household-related
cost increases in the coming years too.
These are the comments of Johan Loos, if you require advice on your home loan or how to consolidate your debt into a current bond, don't hesitate to contact me:
http://gpfmortgage.co.za/contactus.html
What does that mean to you? So where to from here?
Well, he suggests that now is a time to tread with caution for a few reasons:
• Firstly, at 10% prime, history suggests that we may be at or near to the bottom of the interest rate cycle.
Interest rates will go up at some point. History also tells us that recent rate hiking cycles have been by 4 to 5 percentage points.
It is essential to be pro-active and make financial provision for the possibility of a 4-5 percentage point interest rate increase at some point in future, and if you cannot fund such an increase, rethink expenditure commitments.
• Secondly, there is the important issue of massive future hikes in Eskom tariffs in the next 2 years, and similar increases in municipal rates and other utilities’ tariff cannot be ruled out, given the need for big infrastructure upgrades in the coming years.
I would suggest that significant provision be made for such household-related
cost increases in the coming years too.
These are the comments of Johan Loos, if you require advice on your home loan or how to consolidate your debt into a current bond, don't hesitate to contact me:
http://gpfmortgage.co.za/contactus.html
Thursday, August 5, 2010
Wednesday, July 28, 2010
Is a Home Loan Rate Cut On The Cards?
Cees Bruggemans, economist at FNB seems to think there might be a possible future interest rate cut.
In his latest newsletter he referred to the: Dollar's strapless bra starting to slide
I thought that was hillarious, but ultimately it makes sense, because he said that the rand is strengthening against the Dollar and other major currencies are following the same trend. This means we'll pay less for imports, but also earn less income on exports - nonetheless, it could mean a home loan interest rate cut.
He ends off by saying: The Dollar's strapless bra hasn't yet fallen off, possible still supported only by a thread....
So let's see what Gill Marcus and her team decides at the next monetary policy committe meeting on October 14.
If you'd like any information on SA Home Loans please don't hesitate to contact me by following the links.
In his latest newsletter he referred to the: Dollar's strapless bra starting to slide
I thought that was hillarious, but ultimately it makes sense, because he said that the rand is strengthening against the Dollar and other major currencies are following the same trend. This means we'll pay less for imports, but also earn less income on exports - nonetheless, it could mean a home loan interest rate cut.
He ends off by saying: The Dollar's strapless bra hasn't yet fallen off, possible still supported only by a thread....
So let's see what Gill Marcus and her team decides at the next monetary policy committe meeting on October 14.
If you'd like any information on SA Home Loans please don't hesitate to contact me by following the links.
Monday, July 26, 2010
Standard Bank Has Joined the 100% Party
Yes, at last, Standard bank has added it's vote to relaxing lending back to 100% for qualified buyers.
This now brings to the full all four banks' 100% home loans offering.
That being said, they have taken the same route as ABSA, and are only offering 100% loans to Standard Bank transactional account holders.
Also, this only pertains to purchases, not 2nd bonds.
So, if you are a Standard Bank client, looking for a 100% home loan, look no further, GPF Mortgage will help you secure the best home loan for your needs.
Should you need any further assistance or need more information, read some of my other articles on: http://www.gpfmortgage.co.za/
This now brings to the full all four banks' 100% home loans offering.
That being said, they have taken the same route as ABSA, and are only offering 100% loans to Standard Bank transactional account holders.
Also, this only pertains to purchases, not 2nd bonds.
So, if you are a Standard Bank client, looking for a 100% home loan, look no further, GPF Mortgage will help you secure the best home loan for your needs.
Should you need any further assistance or need more information, read some of my other articles on: http://www.gpfmortgage.co.za/
Monday, June 21, 2010
Bumpy Ride for 100% Home Loans!
If you thought you could arrive at a show house, sign the deal and all is finalized, think again. These days getting a home loan is not easy and certainly not for the faint hearted.
I'm not saying that getting a home loan is impossible, but you really have to know your stuff, or even better still, have someone who knows their onions do the deal for you.
Currently there are only 3 banks/lenders that give 100% home loans and it's not easy to get.
One late payment or arrears account on your credit profile and you're declined. You have to have a squeaky clean record to get 100%.
Fact is, while some 78% of home loan applications were successful in the 2005 and 2006 boom times, only around 45% of home loan applications are currently successful.
The amount of debt you have in relation to your income is something the banks take very very seriously. Your affordability is crucial and will make or break the approval of your home loan.
If you are thinking of buying a home in the future, call us first so that we can work out your affordability in line with the banks rules and regulations. You'll get a pretty good idea of what type of home and home loan you will be able to afford.
I'm not saying that getting a home loan is impossible, but you really have to know your stuff, or even better still, have someone who knows their onions do the deal for you.
Currently there are only 3 banks/lenders that give 100% home loans and it's not easy to get.
One late payment or arrears account on your credit profile and you're declined. You have to have a squeaky clean record to get 100%.
Fact is, while some 78% of home loan applications were successful in the 2005 and 2006 boom times, only around 45% of home loan applications are currently successful.
The amount of debt you have in relation to your income is something the banks take very very seriously. Your affordability is crucial and will make or break the approval of your home loan.
If you are thinking of buying a home in the future, call us first so that we can work out your affordability in line with the banks rules and regulations. You'll get a pretty good idea of what type of home and home loan you will be able to afford.
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