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South African Property - Home Loans for AfricaSouth African Property - Home Loans for AfricaProperty news and home loan related posts for South Africans. Good source of financial and business information. Articles
South African Property - June/July Market Summary
2007-07-13 10:42:00 BOOMIt's been chaotic and exciting to say the least...The last month in South Africa has been a shock to the home loans and property barons and I think it's definitely worth a nice little summary. For those of you who missed all the excitement, well, here's your chance to catchup!To summarise it all, I'd say the 3 major impacts and stories have been the following:The National Credit ActRudco Financial ServicesBank ChargesThe National Credit ActFirst was the property boom, prices rising, interest rates dropping then, WAM BAM, thank you MAM, here comes the National Credit Act. All of sudden, investors who were purchasing homes by the dozen every month, found out that they could no longer afford (REALLY AFFORD) anymore property. Banks started declining bonds left right and centre because people were hiding money from them and claiming they were earning R60 000 a month when there statements were only showing R20 000 worth of income.To top it off, the interest rates went up! WHAT THE... More About: Market , Property , June , South African
Rudco - Home Loans @ 6% - WATCH OUT!
2007-07-10 04:15:00 Happy Friday to all you readers out there. It's been a long a busy week for home loan and mortgage originators with all the HOOHAA of the National Credit Act. It does however look like the banks are slowly starting to get things under control again. Just to let you all know. Bank Submissions are now taking 10 - 14 days. It's no longer the 5 day turn around time we've all become accustomed to.Anyway back to the topic of the day. RUDCO Finance Company.Let me tell you these RUDCO boys are causing quite a stir at the moment. Take a look at the article on MoneyWeb's site: Home Loans Fixed @ 6%.Apparently you can get your home loan now @ 6% interest. Be careful people, when a company (Rudco) claims to have financing from a external source and they're not backed by the banks or registered as a registered financial institution, those blinkers should start flapping.Firstly: Who does Rudco get their financing from, and why are they not disclosing it.Secondly: Rudco claim to be using the ... More About: Watch , Home Loan
Wizard Home Loans sponsor White Lions!
2007-07-09 12:43:00 Wizard home loans - White Lions Sponsor sI'm pleased to say that Wizard Home Loans are now PROUD PROUD SPONSORS of the White Lions Re-introduction program. Currently there a handful of White Lions living in the Timbavati Game Park. This is the only White Lion wildlife reserve on the planet and is where the first White Lion was born in the wild...Wizard Midrand having actively been involved with helping re-introduce the White Lions back into the wild, have now taken a new turn in the sponsorship of this amazing achievement in the world of African Wildlife programs.Every month 10 people whose home loans have been registered through Wizard Home Loans will automatically become proud members of the White Lions Africa Project. This is of no extra cost to the clients but Wizard will take a percentage of the profits made from those 10 bonds and donate this to the White Lions of Timbavati.Those 10 lucky people will also receive the following:1. An opportunity to visit the White Lions and ...
Are banks charging you more than they need to with bank charges?
2007-07-03 11:15:00 DID YOU KNOW?Bank charges make up 40 % or more of the banks revenues!Where else in the world does an entry level employee pay more in bank charges than he does in tax?An average person earning R2800.00 per month will pay 4 % of his income in bank charges per month. Can banks even explain what we are paying for. No explanation? Nobody I've have spoken to knows exactly what they're paying for in bank transactions because of the way banks reflect their charges and the way they structure their packages. Over and above this, are there hidden costs that we are not aware of?In the US, it is so easy to open a bank account, and even better there are no charges involved. You receive FREE atm withdrawals, limited number of cheques, electronic funds-transfer payments, and Internet banking. Amazing!In South Africa the average individual pays +/- R1800 on charges per annum on a normal current account. Take penalty fees for example, why are these so high? If you have an unpaid on your account du... More About: Banks , Charging , Char
Buy To Let - Rentals Going Up!
2007-06-30 00:12:00 Well it's a sad state of affairs when I finally realised this morning that the first thing I wanted to do was look at my BLOG. Gone are the days where I used to drink till 4:00am, party all night and sleep all day! I have become an online nerd! AND I LOVE IT!So good morning to you all!After writing my article this week about Buy To Let Mortgages I realised that I'd left out the part about:"Now that Buy To Let has become the BIG THING for property investors in South Africa, Rentals , well unfortunately, they're going up!"So this article is for those of you that are renting.South African tenants face major increases in rentals over the next couple of years. According to the Record newspaper, the massive movement of people from outskirts of South Africa to the city centres are forcing rental prices up. Along with this the demand for apartments and flats to be built cannot keep up with the demand for rentals themselves.With property prices booming in SA, more and more people are start... More About: Buy to let , Going , Goin
Buy To Let Mortgages - Top 10 Tips
2007-06-27 13:27:00 Top Ten Tips for Buy To Let!1. Choose the Right PropertyLocation, location, location...2. Choose the Right Mort gageCheck the amount you can afford. Remember that with the National Credit Act of South Africa it's no longer 30% of your income that's taken into account on your qualification but what you can afford after your expenses have been deducted at the end of the month.3. Work out Costs and IncomeWork out how much your monthly mortgage repayments will be and whether your rental income will exceed this.Remeber to look and see whether you can afford your mortgage repayments if the interest rate increases again (most likely to go up another 0.5% in the next 6 months). Another thing to consider is that should your tenant dissapear, can you afford to pay the mortgage costs for the next 3 months?4. Buy To Let 'Hidden Costs'Don't forget your bond costs. There's registration costs, transfer fees, attorney fees, Stamp Duty and posts and petties. Check out the Bond Costs tab at the ... More About: Mortgages , Buy to let , Ages
I WANNA BE A PROPERTY BARON!!!!!!
2007-06-22 01:10:00 I WANT TO GET INTO THE PROPERTY BUSINESS ON A PERSONAL LEVEL - I'M JUST NOT SURE WHERE TO START!!!!!!Thanks for the frank and open emails I have received lately and just to touch base here are some of the real deal answers. Yes, it gets quite daunting as everyone seems to worry more about themselves first and only then consider any form of straight and open answers to where to go and how to get involved. There are no 100% fixed rules except for death and taxes, but these are the guidelines we use and have done so successfully.I, and my whole family, Wife, son, sisters in law, brothers in law etc are in the property business and not only do we do financing (Mortgages) but we do a lot of what you want to do. We buy, invest, build, sell etc as this is a great business to be in and the risk lies with you 100%.Firstly let me answer some simple questions examples are R 20,000 income (Gross) and R 500,000 purchase price.1. You can buy as many properties as you want. The key is can you aff... More About: Property , Prop , Baron , Pert , Rope
CALM BEFORE THE STORM????
2007-06-20 09:22:00 Interesting times and interesting actions in the property market.Has everyone been sucked up in the PANIC by the National Credit Act (NCA)!Is the NCA a KILLER TORNADO....TA DA!!!!!!!Actually guys and girls this is a great thing for us and if we don not panic we will start seeing great results....AND HOPEFULLY THIS LEADS TO A RATE REDUCTION (DO YOU HEAR UNCLE TITO!!!)What was 5 days to getting a home loan granted, is now a bit longer, about 7 to 10 working days...Whats great about it all is that we see for the first time...1. Folks looking carefully and what they spend their money2. Folks saying..maybe I should manage my money better (Do some consolidation) - If you want help here call me.3. The banks getting to actually offer you something substantial that will NOT put you at risk when interest rates jump.4. Folks buying for themselves versus buying for investment - it looks like we will see a lot more fractional ownership deals happening - If you want info email me. Remember financ... More About: Storm , Fore , Calm
DEEDS OFFICE STRIKE - PAY PAY PAY PAY
2007-06-15 16:04:00 STRIKE at THE DEEDS OFFICES.SO does this mean we will not be able to buy andsell property - what with the striking and all that.Does this mean that our title deeds will not be putinto our names???Role players in the property sector reckons the impact of the strike are starting to take on proportions that could have astronomical financial implications for estate agents, home buyers and sellers, building contractors and attorneys. Well I know that this is a time to have a great look at what the NCA has done for us, get your ducks in a row, because believe me - Your property will be registered and you will start paying fees BUT MOST IMPORTANTIf you have paid deposits and fees etc and are being delayed MAKE SURE THAT YOUR MONEY is being kept in an INTEREST BEARING account for your benefit.May the striking force be with you!!!!!!Have a cool weekend folks - Go Bafana, Go Bokke, Go Mbeki!!!!! More About: Office , Strike , Deeds
FINBOND - Listing on ALT-X - Lets Print DA MONEY
2007-06-14 01:17:00 Well I just received this amazing call from one of my sources - who whispered into my ear that FINBOND are listing on the ALTX today or tommorrow - Its not on the board yet so it must be tommorrow. Well see.Well who the heck are these guys and why a listing - whose going to make BIG BUCKS here!!!!!!!Well from what we have been told - here they are listing as one of the main players in Mortgage Origination and guess what - No direct bank contracts and working as an aggregator through one the actual real big players Bondchoice.I also understand that they have bought three other players in the market Dimension Homeloans, Bond Master and IBO. Well how about that...where does that leave the other players in the cog? We dare ask.So now I think if you feel that you are a share market player...here is your chance?Go see the prospectus and make up your mind for yourself.http://www.finbond.co.za/prospec tus.pdfwell me........I like to know that there is a bank link and backup before I chuck my... More About: Money , Print , Listing
National Credit Act - Loopholes!
2007-06-11 04:23:00 There's been alot of hoohaa about the latest South African national credit act as you may have noticed if you read all the financial and property related BLOGS.About an hour ago I came across an article see Loop holes in National Credit Act. It's articles like this that really get my blood boiling because it makes originators look bad when they have to help clients...According to Fin24 and John Chapman director of Rabie Property Group, there's a GREAT loophole in the new national credit act system, whereby if you register the bond in a CC or a Trust you'll bypass all the NCA laws and regulations.1. As John mentioned, registering a bond through a CC just makes no sense due to the TAX benefits you would have to sacrifice.2. What he forgets to mention is the following:If you register a bond in a trust or cc i.e. ANY LEGAL ENTITY your bond costs are more than double.For example on a bond amount of R 1 000 000.00 your costs would be R39370.00. IF you register the bond in a CC or TRUST... More About: Holes
Wizard Hamper Winners!
2007-06-08 15:21:00 I'm pleased to announce the winners of the Wizard Hampers! What had me a little baffled was, how I was going to announce the winners by name when I don't know half their names and posting their email addresses up on my site, DUH! NO!Then I realised, hello WizardMan, wakey wakey, it's a BLOG, they want links! So I'm going to announce all 10 winners by advertising their sites.Well done to all and thanks to those who have participated in and helped promote the South African property BLOG.The Wizard hampers winners are:1. South Africa BLOG - http://www.southafricablog.co.za/2. RLDaly - http://rldaly.wordpress.com3. Cape Town Daily Photo - http://www.capetowndailyphoto.com4. CharlNet - http://charlvn.za.net5. Property Loan - http://www.propertyloans.co.za6. Live The Life - http://www.actionsport.tv/wordpress/7. Wildlife Property South Africa - http://wildlifepropertyinsa.blogspot.com/ 8. Webtrepreneur.co.za - http://www.webtrepreneur.co.za/Two more sites to be announced as soon as I h... More About: Winners
Buying Property Tip!
2007-06-08 14:42:00 When you spot a property which "potential" for big returns, be careful you don't just invest in an area where the property prices are stabilising. Look for the next area with potential growth. It may be a shot in the dark and it may be the incorrect choice, but the fact of the matter is that in South Africa right now, you cannot go wrong. You'll always make a good return on investment "provided you don't over capitalise".If it means you need to rent out the property or live in an area that you've been avoiding for years, hey it's a sacrifice you should be willing to make for good returns. In the end it is your future you're looking after.The question is where do I start? Do your research, make sure you drive around on Sunday's and look at those show houses. Call the agents, tell them what you're looking for. Give them a selection of choices in terms of area's and try not limit their choices too much.If you don't have enough time to check things out , use your online resour... More About: Buying , Property , Prop , Pert , Rope
ABSA Home Loans Winter Special [Digg]
2007-05-25 08:59:00 Winter in South Africa has kicked into gear and by the looks of things so has ABSA. Looks like banks are taking advantage of winter so people can take further loans to WARM THEMSELVES UP? By yourself that $20 000.00 sofa and use your mortgage to finance it... OR not! More About: Home Loans , Winter , Loans , Home , Digg
FREE "Wizard Hamper" - First 10 Signups! [Digg]
2007-05-10 16:54:00 I'm not sure if it's only for South Africans but it's worth a try! More About: Free , Digg , Wizard
99 year leases. Are they a thing of the past? [Digg]
2007-05-07 16:48:00 99 year property leases in Africa. Do they still exist? I didn't think so but apparently they do More About: Digg , Past , Thing , Year
SA Homeloans - Goods, Bads and Pitfalls [Digg]
2007-04-17 09:11:00 Great article on SA Homeloans. Was wondering how they made their money. One of the top SA homeloan companies in South Africa. More About: Goods , Digg , Falls
Nedbank Home Loans - Tips and Financial Advice [Digg]
2007-04-06 16:35:00 Hey, these bond originators are actually sharing their little tips and tricks. Neat! More About: Advice , Home Loans , Loans , Tips , Financial
Bob Woolmer's Murder Most Foul [Digg]
2007-03-23 07:20:00 Seeing the news that Bob Woolmer 's been murdered feels like the day the Twin Towers got broadcast to the world. It's too much of a TV show to be real. More About: Murder , Digg
MyRoof.co.za - for sale by owner [Digg]
2007-03-22 14:07:00 This is a great private property website with FLOOR PLANS and wide angle photographs - gives you a great idea of how the property looks! More About: For Sale , Sale , Digg , Owner
Banks offer R1000000 [Digg]
2007-03-20 15:43:00 Banks finally get off their high horses and start offerring a little something back to the community. Or they're feeling the pressure of the individual companies taking away their business. You decide. More About: Banks , Digg , Offer
106 Content Ideas for the REALTOR [Digg]
2007-03-06 10:33:00 Awesome little article and some good ideas for content for realtors! More About: Ideas , Digg , Content , Realtor , Tent
The influence crime has on property and how this changes peoples lifestyles
2007-03-06 10:02:00 A great little article on how property prices have been affected by the increases in crime and murders in South Africa...It's nice that peolpe are trying to make an effort to help an great country. More About: Crime , Property , Lifestyles , Influence , Peoples
The influence crime has on property and how this changes peoples lifestyles
More articles from this author:2007-03-06 10:02:00 A great little article on how property prices have been affected by the increases in crime and murders in South Africa...It's nice that peolpe are trying to make an effort to help an great country. More About: Crime , Property , Lifestyles , Influence , Peoples 1, 2, 3, 4 |
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