South African Property - Home Loans for Africa

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A little Friday Funny!
2008-06-06 14:42:00
I think it's time for a Friday funny!Lets shed some humour into the credit pains we've been hearing about for the last couple of months.LETTER TO TRUWORTHS FROM SIPHONext time you get a letter to pay your debts from your creditors, be sure to remember Sipho's letter.LETTER TO TRUWORTHSDear Sir/MadamI acknowledge receipt of your letter dated 1 May in which for the third time, you request that I pay the monies owed to you. I first want you to know that by no means do I dispute my debt and I intend to reimburse you as soon as possible. However, I bring to your attention that I have many more creditors, quite as honourable as you, and whom I wish to reimburse too.That is why, each month, I throw all the names of my creditors into a hat and draw one randomly whom I hasten to refund immediately. I hope that yours will come out shortly.Sincerely Yours,SiphoPS: I have great regret in informing you that given the unceremonious tone of your last letter, you will not be taking part in the n...
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Affordable Home Loan Solutions
2008-06-03 17:11:00
Make owning your home loan even more rewardingWith the increases in interest rates, high inflation, and a household budget that's becoming more difficult to manage, it's good to know that there are some banks willing to help out. ABSA Home Loan s have a range of products out there to assist you in managing your home loan account and your finances. Here is a list of options available for you. Should you have any queries please feel free to respond to this post or contact Wizard Midrand for more assistance.Competitive Rate Options: choose between a variable or fixed interest rate option. A variable rate moves in line with the mortgage lending rate, while a fixed rate stays the same even if the Reserve Bank increases rates. You can select to fix your rate from anything between 12 months and 10 years.Extended Repayment: a great option for those struggling to repay their 20 year loans. Extend your home loan to a maximum on 30 years thereby dropping your payments. In order to avoid payin...
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Property Legal Seminar - TPN Tenant Profile Network
2008-05-29 12:32:00
TPN is proud to host our annual Property Legal Seminar An invitation to all TPN members ? Property Managers, Landlords, Agents, and other interested parties.TPN remains committed to providing our industry with access to professional and relevant industry information.We have partnered with Fullard Mayer Morrison Inc. for the 2008 Seminar.Don't miss this opportunity to get a practical compact sessionAGENDA INCLUDES: Charging interest, penalties and default administration chargesTerminating a monthly lease on noticeCancelling a lease for breachPractical aspects of the landlord?s tacit hypothecWorking with letters of demandReporting a defaulting tenant to the credit bureau: the new rulesSection 31 rent interdict summonsesSection 32 rental attachmentsCommercial and residential evictionsExtra-judicial evictions consideredCapita selecta of certain practical aspects: liquidation, sale of building etcReview of recent court cases and legislative developments impacting on leasesWhere and When?...
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Standard Bank Home Loans: Std Bank Change Lending Policy!
2008-05-22 09:20:00
Standard Bank Home loan Change s to Cost Inclusive offerings, Vacant Land and Loan To Value loans.In light of current economic circumstances Standard Bank Home Loans has made the following changes with immediate effectCost Inclusive loans:Standard Bank will no longer be offering Cost Inclusive Loans to NON-first time home buyers.Jumpstart (first time home buyer) loans will be restricted to a maximum loan amount of R1 million (excluding costs).Vacant Land:All Vacant Land loans have been restricted to a maximum LTV of 75%.Standard Bank will also require deposits for higher value loan amounts:All loan amounts greater than R3 million will be restricted to a maximum LTV of 80%Seems as though my predictions were incorrect! They're all following suit!!
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Change With The Times! A Word From The Wizard Director Team!
2008-05-19 16:13:00
?You can?t be a Real Country unless you have a beer and an airline ? it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer.? Frank Zappa (1940 ? 1993) rock and roll musician?You can?t get a Real Bond unless you use a Real Bond Originator - it helps if you have a family banker, or closely related credit controller, but at very least you need a Bond Originator? Bruna "The Queen", Rock and Roll bond originator.Bond Origination cannot be Real unless it offers the best choices to our applicants... we believe that a conservatively managed bond application is the only way to go ahead when putting together a home loan application. We, as bond originators need to be increasingly prudent for our clients so that they can buy what they can afford.We want to continue building a strong working relationship with our clients even while fundamental reasons for negativity are undoubtedly of concern. Keeping things positive. Wizard Home Loans.
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Absa's New Credit Lending Policy!
2008-05-13 08:56:00
Followin on my previous article (Absa Home Loans), I thought I'd share a little more light into Absa's credit lending policy changes. ABSA have announced that with effect from Monday, 12 May 2008, the following maximum permissible Loan to Value ratio?s will apply: R0 ? R800 000 : Maximum LTV = 100% R800 000 ? R2.7m: Maximum LTV = 95% R2.7m ? R4m: Maximum LTV = 90% R4m:
More About: Credit , Policy , Lending

Backlink Building Lab: Top 30 Free Backlinks for May 2008 fo [Digg]
2008-05-11 21:06:00
Here is a quick list of sites you can submit to, list yourself in or comment on that will help to boost your real estate blogs rankings in the SERPs and build trust with Google.
More About: Building , Backlinks , Free , Digg , 2008

Happy Mothers Day Google Logo 2008 [Digg]
2008-05-11 07:29:00
Googles 2008 logo for Mothers Day - Happy Mothers Day to all the moms!
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ABSA Home Loans - No more 100% bonds! WELL ALMOST!
2008-05-09 16:01:00
Well, if they're not trying to force property prices down in South Africa, I'll eat my shorts. As of Monday 12th May 2008 ABSA home loans will only offer 100% loans to people purchasing properties under R800 000.00. Gone are the days of buying massive properties with no cash on hand. As From Monday ABSA will place a cap on LTV(Loan to Value) going forward. R0 ? R800k = 100% bond R801k ? R2.7m
More About: Home Loans , Loans , Home , Bonds

Sub-Prime Mortgage Lending - South Africa's Next Goldmine
2008-05-09 11:49:00
Well ladies and gents, don't know about you but I think today is the first time: I've actually managed to breathe since these public holiday's we've had. For the first time in my life I realised that public holidays aren't actually that cool. Yes I'm getting old, in fact it's my 30th on the 12th June so I'm getting cockier by the minute too. WIZARDMAN is turning 30 years OLD! I read a Standard
More About: Mortgage , South , Lending , Prime

Home Loan Declines Up - Why - Banks Need to Meet SLA Requirements
2008-05-05 10:19:00
It's a fact. For every home loan application that's going into the banks these days, the home loan application is getting declined at least once. Not because you can't afford it, not because you have a bad credit record or listing with ITC but because the banks in South Africa are scared and not meeting their SLA's. Now, as we all know corporate companies and most companies these days need to
More About: Banks , Home , Loan , Meet , Home Loan

Interest Rates Going Up Again - Start Saving Now!
2008-04-24 08:27:00
Incase you haven't heard, the real estate market is about to take a little knock. Yesterday the stats for inflation were released and inflation has jumped to a 5 year high of over 10%. This does not bode well for real estate markets in South Africa and it most certainly does not bode well for interest rates. The problem is, we're expecting another 2 interest rate hikes this year. That means R1
More About: Interest Rates , Start , Interest , Saving , Rates

What Is Bridging Finance?
2008-04-22 16:41:00
Today I officially starting feeling really bad. It's been over a week since I've blogged anything and not because I haven't had anything to write about but purely because I've been too lazy! So I'm off my fat a$ and I'm BACK! We're also going to make a conscious effort to change the layout and look of the property blog! Any hints and assistance from our regular readers would be awesome, so
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A Home Loan, A Bank, An Attorney and an Estate Agent!
2008-04-16 17:58:00
So WHAT MAKES A GREAT BOND ORIGINATOR Finally service is the name of the game - that and nothing more. I thought I would give a feedback on the business of home loans and bond origination and mortgages, just so that we are all on the same page. It is a while now that the NCA is in play and we have seen that interest rates have climbed and the market has certainly moved and swung more to a
More About: Agent , Estate , Home , Loan , Attorney

S.A. Slapped Again!
2008-04-10 15:28:00
It's seems my predictions in my post 30 minutes ago were WRONG!!! Another interest rate hike has slapped us on the rear! Tito Mboweni announced that the reserve bank was to raise the repo rate by 50 basis points to 11.5% thereby increasing South Africa's interest rate to 15%. Not all bad news though! For those of you putting in a little extra every month, the interest you earn on your money has

Interest Rate Slap ???
2008-04-10 13:32:00
Well as we all know, it's interest rate decision time again today! I know everyone expecting a interest rate hike but if anyone listened to the FNB Property Guru on Radio 702 this morning things aren't looking that way.... According to FNB, hiking our interest rates again will not curb inflation but will in fact damage the economy even more. The reason being that the sudden increase in the cost
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Paris Hilton: "S.A. Rates Will Stay The Same" - WHO THE HELL IS SHE!!
2008-04-09 16:45:00
Paris Hilton , hehe, you must be joking, just looking for some good link bait so people will start commenting on my BLOG again. Pretty sad isn't it! Anyways... Here is a pretty good article. Some positive prospects for the South African Property Market. Looking Ahead Slow market but property is still a valuable asset. Reports show that the property market has hit a seven year low and the slow
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Ombudsman, a good representitive to have on your side
2008-04-04 12:17:00
A Gripe with Bank! Once again we need to keep our eyes open dealing with banks, many banking clients aren?t sufficiently informed about their new rights because of the banks? new responsibilities under the National Credit Act. Clients need to be aware that they need to be informed about the full cost of credit. This includes your principle debt, all the interest you will pay, the initiation
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Mortgage Originators Loose Bank Contracts [Digg]
2008-04-01 10:28:00
Mortgage Originators loose their banking contracts in South Africa. Now what???
More About: Mortgage , Digg , Bank , Contracts

Banks Close Doors on Bond Originators
2008-04-01 10:09:00
It's a sad sad day in South African today, where the banks have officially closed the doors on bond originators. As of 12:00am this morning ABSA, STD, FNB & NEDBANK are no longer paying commission to bond originators for business brought to them... This statement not yet released to the public means companies like, Bond Choice, MortgageSA, Ooba, Wizard Home Loans and other will need to rely on
More About: Banks , Close , Doors

Buy-to-let, it's not dead, it's just tough!
2008-03-31 13:21:00
Pre NCA people were reveling in the buy-to-let market. With home loans being dished out to South Africans at a rate of knots and affordability not even coming into the equation, people were really making alot of money in the buy-to-let market. South Africans weren't feeling the brunt of the home loans with interest rates being at a lovely 9.5% and living costs, including fuel, bread and your
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Absa Home Loans: International Mortgages
2008-03-27 09:04:00
Finally... Ladies and gentlemen. ABSA home loans have come to the party. There is hope for people who struggle to invest in the South African Property Market. Together, Barclays and Absa have designed a proposition making it possible for South African?s wishing to buy property abroad as well as non-South African residents looking to invest in South Africa. Whether non-residents purchase
More About: International , Home Loans , Loans , Home , Mortgages

Formula 1 & Real Estate in South Africa
2008-03-25 10:26:00
With Raikkonens 16th win of his career and after watching Ferrari kick some serious rear in Malaysia this weekend I was hit by a sudden brain wave... The more people that support formula 1 and Ferrari specifically, the lower our cost of housing will become in the South Africa n Property market... This is how it works! If more people start watching Formula 1 racing it's inevitable that more
More About: Estate , Real Estate , South Africa

Gloomy Times Ahead - Or Light at the end of the Property Tunnel
2008-03-18 12:51:00
I'm not one for copying content and placing it on my site, but after reading this article from FNB's home loan and property expert John Loos I think it should be shared with everyone. Is the South African property market taking a turn for the worse? Read on and see what the pro's have to say... Copied from FNB's property market newsletter. Although in these relatively gloomy times it is
More About: Property , Light , Times , Tunnel , Ahead

The process of buying and selling your home
2008-03-12 08:41:00
For those who are in the property market one way or another!Your House As Seen By: Yourself... Your Buyer... Your Bank... Your Assesor... South African Revenue Services...
More About: Buying , Selling , Home , Process

Rising Debt slows new vehicle sales - WAKE UP SA
2008-03-06 07:51:00
You know what really gets on my TITS and pardon the French people but it does, are these articles you read in the papers these days. NEGATIVE NEGATIVE NEGATIVE CRAP! Whatever happened to the South Africa n newspapers leading by example... If I must read one more newspapers article about how South Africans are in so much debt and car sales are dropping and house prices are increasing and interest
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MY INVESTMENT PORTFOLIO - 2008 and ahead
2008-03-04 17:27:00
So - NOW ARE YOU READY TO PLAY THE INVESTMENT GAME Whats Hot Whats Hot Whats Hot Whats Hot WHATS HOT Properties in Possession - PIP - It sounds callous, but you can pick up great deals now... Overseas investments - Buy a fractional share on an island- sounds crazy but for R 200K get a month in Mautitius!!!!!!! Be a Bull or a Bear!!! Stocks has to be part of your portfolio Buy to Rent
More About: Portfolio , Investment , Ahead , 2008

Ooba - MortgageSA rebrands!!
2008-03-04 10:05:00
Ooba Ooba Ooba - No, it's not a South American chant it's the new re branding of the old MortgageSA group... Has it finally hit South Africa, does the short catchy Google type name branding that's hit America by storm finally caught onto the South African market? Well, we'll see, but I say, FLY AWAY MORTGAGE SA, welcome OOBA! What I do like about the new site (apart from the fact that the image

Mortgage Southern African Convention - 12 & 13 March 2008
2008-03-03 11:54:00
To my readers, I apologise for this article and the atrocious content for I, MOVED HOUSE THIS WEEKEND. Now let me tell you something, anyone who says it's fun, try it again, maybe you were one of the lucky few! My head is thumping, my legs are aching and my eyes are burning from the dust that's still settling in the house! My bed is currently on the floor in my lounge and I have no furniture.
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Budget Speech: Trevor Manuel: 2008 - 2009
2008-02-26 13:01:00
Howdy Folks: This is just a quick post to show everyone the updated and latest budget speech. Most people finding our website are hitting last years 2007/2008 budget speech and hence thinking that there's no change occurring in South Africa ;-) So before any protests start here's a copy of the latest 2008/2009 budget speech by Trevor Manuel . It is really big, and if you'd like to download a
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