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?
Friday, August 20, 2010
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/
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