Home Owner's Tips

• Buying property is a big commitment; make sure you get the best deal for your needs.
• Remember, pay your first instalment on day of registration and reduce the term of your Home Loan for about eight months.
• If possible, increase your instalment by even R 100 monthly. This extra money into your Home Loan account saves you interest as it is calculated on your daily balance. The term of your Home Loan will be reduced as well.
• By increasing the instalment on a new bond by 35% can halve the term of the Home Loan.
• The real truth about interest rates! Do not be fooled, the rate you will receive depend on your creditworthiness. Your biggest asset is creditworthiness, guard it - pay your instalments before or on due date.
• Only with a good credit profile, we will be able to negotiate a top interest rate for you with the bank.
• Notify your bank in writing in case of bond cancellation, three months prior to that to prevent penalty interest.
• Don’t get caught up in debt, consolidate your debt into your Home Loan and pay it off with a lower rate. People who don’t pay bills end up being blacklisted and restrict their financial freedom.
• Should you receive additional money in the form of a bonus or a lump sum payment, you might consider depositing the full amount or a portion of it into your Home Loan account.