SA Financial Information hub


Buying a house and then financing it are two major life decisions – the bond you choose is a long term relationship. Estate agents and originators will want to make that decision for you. At SA Home Loans we believe you have the right to control, and to amazing service – no matter how your circumstances change.
The benefits of buying through SA Home Loans
Deal direct – stay in control
Why let an estate agent or originator choose your home loan provider? Are you sure they’re acting in your best interests – or are they chasing the easiest commission? Why stick with a Bank? Shop around – it’s easier than you think.
You get a specialist
Home Loans is ALL we do. We’ll remove the hassle and stress of getting a mortgage. You stay in control whilst getting expert guidance.
You get low fees
We negotiate discounts on your conveyancing fees with attorneys on our panel. You’ll be surprised at the difference it makes.
You get flexible product options
SA Home Loans has shaken up the mortgage industry with our groundbreaking home loan products that can change according to your needs.
You get our best rate
We give you the very best rate you can qualify for. We’re competitive, transparent and fair, and we don’t discriminate against first time buyers.
You get individualised service
Choose how you’d like to deal with us – phone, web, face-to-face.We’ll come to you to discuss your needs, and follow through with amazing service, making sure your home loan is giving you maximum utility and meeting your lifestyle needs.
Buying a home – choose the mortgage you feel “at home” with
Why not deal directly with SA Home Loans – the mortgage specialists? When you buy a new home it is likely that the estate agent will put you into contact with their preferred mortgage originator (in return for a handsome commission).
Mortgage originators are not finance providers, but broker a home loan from one of the financial institutions. But ultimately you are still in control – you can cut out the middleman and shop around to choose whichever mortgage lender you prefer to assist you to buy a house.
Buying a house – mortgages are ALL we do
We are ideally positioned to ensure that buying a home is as painless as possible. First of all we are not a bank with all the restrictions, bureaucracy and red tape associated with such cumbersome institutions.
SA Home Loans offers a fresh alternative to home financing. We provide convenient, hassle-free home loans. Our culture is innovative and energetic. Our point of differentiation is the amazing service we offer, which is the core of our existence.For example, we understand the worries and the needs facing first time home buyers. First-time home buyers can get a great deal when they select SA Home Loans for their home financing, because we don’t penalise you for being a new home buyer.
Why deal with the middleman when home buying?
Mortgage originators get home loan offers from various financial institutions on your behalf – for a commission. SA Home Loans provides you direct funding without passing on those fees. Mortgage originators hand you over to a bank – SA Home Loans will continue to service you as a valued client throughout the life of your home loan. As our funding comes in directly from large investors and we do not pay commissions to brokers and estate agents, we are able to pass the savings straight to the homeowner. The margin on the bond rate that SA Home Loans charges is consistent and transparent. Nothing is hidden, and you will always know how we arrive at your total interest rate.
Our home owner clients enjoy peace of mind – in the eight short years since our establishment, we have become the fifth-largest home loans provider in South Africa! Since your home is registered in your name at the Deeds Office, you enjoy complete security. SA Home Loans itself is a securely-established business, and our blue-chip shareholders are Standard Bank and JP Morgan.
Moreover, because our business is totally dedicated to providing mortgages, we are acknowledged as the specialist in the field of mortgage loans. To maintain this high ground, we constantly search for innovative ways of doing business. For better ways to amaze you with our excellent service and help you manage your mortgage. For ways to improve all the benefits our clients currently enjoy.
Complementary services
To give you a fully-rounded ‘package’, SA Home Loans also offers you these options:
A convenient, paperless, home owner’s insurance plan managed off your home loan account.
A bond protection plan which covers your bond in the event of disability and settles it in the event of death. There’s no ‘medical’ required and it’s also conveniently managed off your home loan account.
How does SA Home Loans rate on rates?
No matter what the market is doing in terms of fluctuating rates, our interest rates, initiation fees and service fees always remain highly competitive, transparent and fair. We also give you as much control as possible through our range of mortgage bond options.
There are no hidden costs or fees. We don’t give you a discounted rate then take it back in fees or through fine print. But we do negotiate discounts on your conveyancing fees with the attorneys on our panel. You’ll be surprised at the savings you can achieve.
We’ll give you the time of day
Part of our policy is that we’ll come to you – we don’t expect you to chase us! While we are happy to discuss your needs face-to-face, if your time is limited, there’s always the phone or our website. However you choose to do business with us, you can rest assured that our service will never flag. We will keep in constant touch, advising you of new developments, new opportunities, making sure you’re reaping the maximum benefits from your home loan.
Needing to buy a home now?
To see what you can afford or to find out whether you qualify for a bond with us, simply make use of our online home loan calculator. Once you’ve established the approximate loan size you qualify for, apply now – or call 0860 2 4 6 8 10 and talk to a consultant who’ll assist you with the best options for you.



Buying Your second home

Budging by the steady activity in the country’s coastal areas, notably KwaZulu-Natal, the demand for holiday homes continues unabated. People still take the view that there’s only so much beachfront. But is a house or apartment at the coast a worthwhile investment, or is it a foolish indulgence, a bottomless pit, a black hole?

Over the past two years house price growth has been particularly strong along both our coastlines, west as well as east, so gearing, made attractive through low interest rates and freely available from financial institutions eager to lend became the order of the day.
If you spotted the property take-off early enough you didn’t have to be a rocket scientist to deduce that buying a second home with money borrowed at two per cent below prime, the value of which was doubling every three years, made sound business sense – as long as your cash flow could handle it.

Even the dark cloud of Capital Gains Tax on any future sale was an issue to be shrugged aside. The benefits of owning a holiday home are both real and imagined. The downside is real enough. Maintenance costs can get out of hand. How do you take care of a sea-facing free-standing house and garden in Margate when you live in Johannesburg and take the family there maybe twice a year? The answer is usually to employ someone on a maintenance contract, who’ll keep an eye on the place and perhaps supply a housemaid once a week. You’ll also probably need a gardener or (easier) a garden service; if there’s a swimming pool then you’ll require a pool service. And – absolutely essential – you’d better sign up a security company. Now the costs are building up.

If the property is in a complex, perhaps an apartment block, the external costs will be handled by the body corporate. Of course, you’ll pay a levy – and hope that it doesn’t get out of control. You’ll still need someone to clean and dust regularly – and you’ll still need a security service.
As the costs mount the HHO (holiday home owner), turns his thoughts to improving his cash flow, ie. ‘Let’s rent the place when we’re not there!’. Trouble is, all the other HHOs are doing the same thing. And there’s just one further tiny snag. The seasonal holiday high spots when you get the most money for renting out your beach paradise are when you and the family want to be there; that was the motivation in the first place!

Nevertheless you decide to holiday in the rainy season and employ a local letting agent. The agent finds the tenants, checks the inventory (and let’s you know what is missing, broken, or needs to be replaced) while collecting the rent. Bear in mind, however, that the charge to the bucket-and-spade brigade is your gross rental income. Deduct the agent’s commission, cost of cleaning, replacing, fixing and, don’t forget, your other ongoing costs such as, if your in a gated complex for instance, that portion of the monthly levy!
As you may now have noticed, owning a holiday home can become a fulltime occupation. To handle it properly, you need to know the ropes. In other words, how tax efficient can you make the whole operation?

As a general rule you can claim expenses incurred in production of income as long as you are carrying on a trade. Standard principles apply with regard to capital and revenue – you can claim for repairs, but not for improvements. However, costs which are not deductible can be added to the base cost (for CGT purposes), so you have to keep the paperwork.
Presuming that over a tax year your rental income adds up to woefully less than the costs of your holiday haven you can claim the shortfall against your total income – with certain caveats. You can claim bond interest, levies, insurance, letting costs and maintenance. Additional assets such as furniture and fittings you can depreciate. You have to be careful that the shortfall is not ringfenced. But note, you and any relatives cannot use the accommodation for more than 20 per cent of a year.

The Receiver, however, has ring-fenced the practice in that you can’t claim losses
Ring fencing works quite simply by stating that under certain circumstances, losses for more than three years in any five-year period.
Another issue you have to watch for is if you decide to sell the property you have been renting. If the Receiver decides that you have made a speculative investment, any profit could be deemed revenue and not capital and taxed at your marginal rate (maximum 40 per cent). For example, if you buy that apartment in Margate and then sell it a year later, SARS would probably deem the profit as revenue – unless you can put up a case, ie you’re going broke and need the cash.

Ceding your Life cover policy for a mortgage bond

When you take out a mortgage loan, the bank will often stipulate in its contract that you take out a life insurance policy – or cede one you already have – to cover the loan should you die.

But can a bank force you take out life insurance cover? If so, must the policy be bought from a broker of the bank’s choice and, if you are already covered, are you required to cede your policy to the bank?

Dave Crawford of Rigel Planning Systems says Section 23C of the Insurance Act rules that banks are within their rights to request a borrower to have sufficient life cover to cover a mortgage bond should the borrower die.

But, says Crawford, this matter is negotiable by the borrower and the lender.

Banks are required to take into consideration the debtor’s creditworthiness and any security offered by the client before insisting on life cover.

Should the debtor need a life policy, the creditor is allowed to request that it be ceded to the bank.

Crawford explains that this is because the only way a bank can ensure the client reserves the life insurance for the purpose of covering the mortgage bond in the event of death is by asking the client to cede the policy to the bank.

Banks are, however, not allowed to insist that life insurance policies are bought from one of their brokers.

This is often not made clear to the client, says Crawford. “Many borrowers feel the implied threat that if they don’t buy the policy through the lender’s broker they may not get the bond,” he says.

According to the Act, the lender must inform the borrower that, although a policy is required as a condition of the loan, there is absolute freedom as to which life company is chosen, or which broker or agent is used.

Many potential home owners wonder if it is really necessary to buy life insurance cover when they apply for a mortgage bond.

Crawford says it is: any bond taken out in your name carries a certain amount of risk.

If, for example, your estate is illiquid when you die, a forced sale of your property may be required to pay back the bond – to the possible detriment of both your estate and the bank.

Life insurance will cover this, as well as any downturn in property and rental values from

Lease Terminology made easy

The transfer of lease in its entirety from assignor to assignee

The party disposing of their existing lease.

The party taking over the lease.

Bank Guarantee
Documents supplied by lessees bank to guarantee an agreed amount of money in the event of the lessee forfeits the lease.

Building Insurance
The landlords insurance policy against damage/destruction of the property

Business rates
Local taxes charged to the occupier by central government.

Break Clause
Date at which a lease can be terminated having given prior written notice. This is agreed prior to completion and usually can be exercised by either landlord or tenant.

Building survey
Report carried out by qualified Chartered Surveyor advising on he structure and repair of the property.

Conclusion of legal formalities and legal transfer of ownership to the lessee/purchaser.

A legally binding document incorporating all the relevant terms of the negotiation

The terms within the lease under which the lessee is legally bound

A sum of money paid by the buyer on exchange of contracts.

Repairing obligations to which the lessee must comply with at the end of the lease.

Exchange of contracts
The point at which the parties are legally committed to conclude the transaction with an agreed timescale.

Ground rent
The annual rent(normally nominal)charge levied by the freeholder to the long leaseholder.

Agreement entered into by landlord and tenant setting out the terms and obligations under which the tenant occupies the premises.

Legal Costs
Costs and fees paid to solicitors for dealing with legal documentation.

The party offering a lease

The party agreeing to take the lease

Listed building
A building that has been designated as being of special architectural or historic interest. Alteration to listed building are heavily censored.

Local authority search
Search undertaken by a solicitor to local council regarding any outstanding enforcement.

Peppercorn ground rent
A nominal rent paid to the freeholder.

Premium lease
Sum of money paid upon assignment for the benefit of the lease..

A person who is buying a property.

A sum of money paid by the tenant to landlord for beneficial occupation of the property. Normally charged quarterly in advance.

Rent Deposit
A sum lodged with the landlord which can be used in the event that lessee forfeits the lease.

Rent Review
A date at which the rent will be review. Normally this review is on an upward only basis at the anniversary of the third or fifth year.

Service charge
Charge levied by landlord to cover costs of all management services in relation to the running of the property.

Serviced Offices
Short term occupational solution where accommodation is let on a monthly renewable licence on a fully inclusive basis.

Sinking Fund
Collection of service charge money in advance. Normally created in anticipation of future major works to the building.

Stamp duty
A tax paid to the government by the purchaser. Amount paid on a sliding scale of between 1% and 4% depending on value of the property..

Subject to Contract
Words to indicate that the document does not form part of the legally binding contract.

An occupier that is taking a lease from the landlord.

A person who has temporary possession of a property.

Definition of type of property either leasehold or freehold.

Title deeds
Documents showing the legal ownership of a property.

Under offer
The stage at which outline terms have been agreed prior to exchange of contracts.

Restrictions on how the property can be used. I.e. retail, business or industrial.

The party selling a property.

Rental Lease Agreement Template

The lease or residential tenancy agreement is an agreement between you (the tenant) and the landlord. It is made up of two parts. The first part sets out both the tenant’s and the landlord’s rights and responsibilities. If you sign the lease it means that you agree to abide by its terms and conditions. It is a legal document and you should read it before you sign it. The second part of the lease is the condition report.

Download CreditPress’ Version of a lease agreement below. You are free to edit according to your terms


Understanding transfer duty

Whenever someone buys property, the title deed (official documentation that proves you own the house or land) has to be transferred into the buyer’s name. The government charges tax on these property transactions, which is called transfer duty. When you buy only land, you will pay transfer duty only on the land itself. If you buy an existing house, the transfer duty will be for both the land and the home.

The transfer duty of a specific transaction is based on the price of the property itself. A sliding scale determines how much you will have to pay. The higher the price of the property you are buying, the more the transfer duty you’ll have to cough up. If you’re a registered property developer, you pay VAT (value added tax) on property purchases rather than transfer duty (if you buy from a developer, you’ll also pay VAT rather than transfer fees).

From February 2011, transfer fees were as follows (always get the latest information from your bank or estate agent):

Value of property: R0 – R600 000
Duty: 0%

Value of property: R600 0001 – R1 000 000
Duty: 3% on the value above R600 000

Value of property: R1 000 0001 – R1 500 000
Duty: R12 000 plus 5% on the value above R1 000 000

Value of property: R1 500 001 and above
Duty: R37 000 plus 8% on the value above R1 500 000

If you are part of a trust, company or close corporation, you’ll be charged 10 percent transfer duty on the selling price.

When getting a bond and looking for a house to buy, remember to factor in your transfer fees.

New House or Old house, Which one is better to buy

It’s important to consider the pros and cons of both before scanning the hundreds of homes for sale in order to find your “perfect house.”

Old Houses: Generally speaking, older homes have more charm.  By older I mean 50-100 years old.  It’s in these homes that you usually find detailed crown molding, solid building materials, and intricate woodwork.  Older homes also often have a more distinctive look than new homes – as newer homes generally look like cookie cutter homes if the neighborhood isn’t mature yet.

However, with these great features comes the sacrifice of open floor plans, spacious closets, and newer windows/electrical wiring.

Assuming the home is still in its original floor plan, the closets are usually much smaller (goodbye walk-in closets).  And if the kitchen has not been updated, there probably isn’t a dishwasher installed or even room for one in between the cabinets.  Lastly, depending on how old your home is, each room may seem smaller because of a closed floor plan.

So if you prefer the character and construction of older homes, keep in mind that there may be more hidden expenses such as necessary electrical updates or a new roof to budget for.

New Houses:
If you have the option to pick from newer homes of say 0-10 years old, then you definitely have some benefits older homes cannot provide. The most obvious perks are – you won’t have to worry about the heating and cooling system, condition of the roof, safety of the electrical system (many older homes don’t have grounded wiring on all the outlets), or the age of the plumbing.

Beyond those basics, newer homes are also usually more energy efficient with better insulation, windows, and heating and cooling system. The closets and rooms are generally bigger, and the floor plan is much more open to create a more spacious feel.

However, newer homes often cannot provide the distinctive charm older homes have. In fact, many newer subdivisions have homes almost identical to one another. Many homeowners also value the historical component of their homes, as many older homes represent a certain style of an era.

So now you can decide which type of home suits your needs and desires better, and begin eliminating listings that don’t fit the bill. Shopping for a home can be an overwhelming process, but very rewarding once you have considered all the pieces and chosen the perfect home.

Buying Property when you are a foreigner

There is nothing to prohibit a non resident from buying property in SA personally or through an entity subject to certain requirements.
A non-resident is a person whose normal place of residence, domicile or registration is outside the Common Monetary Area. These individuals enter South Africa purely for visiting or business purposes and would not be the holders of a valid work or study permit in their foreign passport.
There are formalities beyond signing a formal sale agreement which must be observed by non residents buying property in SA.

If a non-resident individual is purchasing a residential property in his/her personal capacity in SA then funds to do so would be remitted from an overseas source into a designated bank account (usually the trust account of the conveyancer or estate agent) with a registered SA Bank.
The deposit of the international transfer of funds would be proof of the introduction of funds from a foreign source to pay the purchase price. The record of the deposit of the funds received from a foreign source is referred to as a “deal receipt”. A copy thereof should be given by the conveyancer/estate agent to the purchaser. This record is important and is required for repatriation of funds. If the non resident requires a bond the maximum amount permissible would be 50% of the purchase price and approval required by the Exchange Control Authorities which will include being able to prove the introduction to South Africa of an amount equivalent to the bond amount sought. To qualify for a bond the non resident will have to satisfy the lending bank’s usual requirements acting as agent for the Exchange Control Authorities like proof of earnings, furnish copy of the sale agreement, proof that the price is fair and market related, and of course satisfy the FICA requirements. On approval of the bond the non resident is required to open a non resident account at the registered commercial bank in order to facilitate bond repayments. This account would be funded from abroad and/or from rent if the property is leased. A copy of the lease agreement must be lodged with the bank holding the account together with an estate agents confirmation that the rent is fair and market related. The practice was that upon registration of transfer the title deed would be submitted to the Bank (which received the foreign funds) to be endorsed “non-resident”. This is no longer a requirement as in 2009 the South African Reserve Bank referred the matter to the Department of Land Affairs whose response was that no title deed can be endorsed by anyone other than by a Registrar of Deeds. Therefore it is essential to retain your “deal Receipt”.
Upon the non resident selling the property and desiring repatriation of funds the Bank would require:

Negotiating a Payment Arrangement with a Debtor

Elements in the Negotiation Process

“… negotiations commonly follow a four-step path: preparation, information exchange, explicit bargaining, and commitment. … Negotiation is, in short, a kind of universal dance with four stages or steps. And it works best when both parties are experienced dancers.”
Richard Shell

Negotiations with delinquent customers can be stressful and difficult. The customer may feel they are on the defensive. The collector may be under pressure to produce certain collection results.

The negotiation process can be divided into three stages or phases:


The pre-negotiation stage entails preparing for your negotiation with the debtor to get his/her repayment as soon as possible. It involves getting all the information you need with regards to the debtor and the account that is overdue and analysing the situation thoroughly.

This stage also entails evaluating your leverage in other words how much influence or control you have over the situation as well as the control or influence of the debtor in the situation. You need to determine what you will do to enhance or increase your level of influence on the debtor. For example the threat of handing the account over for legal collections or blacklisting a person on a credit bureau may give you more leverage to get what you want.

You also need to build rapport with the debtor to determine early on if the debtor will cooperate with you or will be difficult to move to action.

Identify and set goals for your negotiation with your debtor. It gives you a clear guideline of what you want to achieve with your negotiations e.g. “I want to get full payment of the outstanding amount within 7 days.”

Set out a clear negotiation plan i.e. how are you going to ensure that you realise the goals you have identified for the negotiation process with the debtor.


The second stage of the negotiation entails deciding on the logistics of the negotiation process i.e. when are you going to make the call to the debtor to negotiate repayments. You also need to be clear on the offer you are willing to make and accept.

You also need to decide on the tactic you will use. I.e. will you state your case, clearly and completely to get the debtor to understand the severity of the matter or use threats to get the debtor to pay his outstanding debt. Will you set a time limitation on making payment? Will you use requests to get payment? What tactic would you use?

Remember: Intimidation tactics are often ineffective. One should rather make use of persuasion to reach an agreement.


In the closure stage you need to determine how you are going to get a “Promise to Pay (PTP)” from the debtor. You also need to confirm the agreement for payment with the debtor by rephrasing and recording the promise from the debtor.

Negotiating to Get a Promise to Pay

A collector’s main goal should always be to secure a promise to pay (PTP) from the debtor. However, finding out the reason why the debtor has defaulted may be just as important. The debtor should always be made aware of the consequences of his/her late payment. The collector’s attempts to secure a PTP should be arranged in the following order:

First Attempt

The collector’s first attempt should be to secure a PTP within the next seven days. Should you find that the debtor is only able to pay within the next ten to twenty days, it might be advisable to request a post dated cheque if possible. Should the debtor not be a cheque account holder, then simply arrange with the debtor for an additional debit order to be requested on the specified date. The collector should advise the debtor of the fees involved, should the debit order reject. This may act as a deterrent from defaulting.

Second Attempt

The second attempt should be to get the debtor to pay 50% of the overdue amount immediately and the rest over the remaining period of days until the next instalment is due.

Third Attempt

If both the first and the second attempt have failed, the collector may have to settle for payment to be made within thirty days. This should be seen as a last option to negotiate.

Constant monitoring is required on an account which has fallen into arrears. It is clear that the debtor cannot be relied upon to make timely payments. Regular reminders are therefore necessary to encourage and enforce regular payments. Should a debtor not stick to the arrangement made, it may become necessary to consider more drastic measures to secure regular payments. The National Credit Act makes provision for legal action to commence in as little as twenty days of the amount being in arrears.

It cannot be stressed enough, that the sooner a collector acts on recovering an overdue amount, the better the chance of total recovery. The collector needs to remind the debtor of the amount and date of the next payment due. Debtors often find it difficult to pay a double instalment, it should therefore be expected that the debtor will only be able to afford a lesser amount. Once the amount has been confirmed, it should be recorded on a collections management system along with the reason for the default.

Some Guidelines for Negotiating with a Debtor

These are some steps that should be taken in negotiations with delinquent debtors:

  • Ask what caused the delay in payment.
  • Ask how serious the problem is and what the customer is doing to resolve the problem.
  • Always ask for immediate payment in full.
  • Know what is the least you will accept from the debtor/customer or business entity that owes money before making the collection call.
  • Ask the debtor to acknowledge the debt in writing.
  • Request a substantial, immediate payment as an indication of the customer’s good faith.
  • Propose an aggressive repayment plan, and then ask for the debtor’s comments about your proposal.
  • If the customer agrees to your proposal, arrange for them to confirm it to you in writing – even if it only an e-mail.
  • If the customer rejects your payment plan, insist that they make a counter offer.
  • Do not accept any counter offer immediately. Think it over carefully.
  • If the customer’s proposal is below your minimum acceptable level, reject it immediately. Doing so sends a message that you are serious about the negotiation. and are not about to be “taken for a ride” by the debtor.
  • Remember that a delinquent customer’s first offer is a “sucker” deal intended for inexperienced or unprepared trade creditors.
  • Consider asking the debtor to return inventory to clear part of the debt if the inventory has kept its value, and assuming you believe there is little or no chance that the debtor will file bankruptcy within 90 days of returning the product.
  • Ask your customer to provide security or collateral in exchange for extended time to pay the debt.
  • Approach negotiations as equals. If you do not act and speak as an equal, you will be at a serious disadvantage.
  • Ask the customer for additional information that would help you to understand the scope and extent of their financial problems.

How Much Mortgage Loan Do You Qualify For?

Its always a good idea to find out how much mortgage loan you qualify for before making an offer on an home , banks typically base this on your income and your current monthly expenditure which includes living expenses and debt repayments.

Before the implementation of the National Credit Act (NCA) in June 2007 banks and other mortgage lenders typically would calculate a bond based on payments of not more that 30% of your gross monthly income. In the case of a joint purchase they would look at 30% of the combined gross incomes.

This methodology wasn’t overly concerned with your other debts as the banks were comfortable that they had a first claim on any income and the debt was secured by a mortgage over immovable property.

Since the introduction of the NCA , banks and other mortgage lenders need to evaluate the prospective borrower’s ability to repay the proposed bond. They need to take into account all of your expenses and all your other debts before determining how much disposable income you have to service a bond. The result of this is that since the NCA was introduced people typically are qualifying for much lower mortgage amounts resulting in fewer home loans being granted sine June 2007.

Here are a few tips to maximise the amount you qualify for:

  • Prepare a budget and evaluate your monthly expenditure, eliminate all non-essential and luxury items
  • Always try and pay your debts on time , if you have a problem making a particular payment speak to your creditors
  • Make a list of all you debt and rank your debt by interest rate starting with the highest to the lowest. Pay off the highest cost debt first by making additional payments, once it is settled move on to the next highest and so on.
  • Because of the stricter mortgage lending requirements it is important that you have a substantial deposit when applying for a bond. If you don’t have any savings available consider setting up a savings/investment plan after settling any debts.
  • Find ways to increase your income , ask your boss for a raise , work overtime or consider getting a second job – the more you earn the more bond you will qualify for
  • Find out whether your employer offers a housing subsidy to employees
  • Before applying for a home loan check your credit score to make sure that there are no negative items recorded against your profile. You don’t want the bank/mortgage lender to be the one to tell you about it. If there are any adverse comments take the necessary steps to correct it
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