The average deposit as a percentage of the home’s purchase price for Q2 2018 is currently at 14% - this is down 21.8% compared to a year ago! For first-time buyers, however, the average deposit is 12.3% of the home’s purchase price – down by
Some 78% of residential bonds granted in the past 12 months have been for less than R1,5m; and 60% for less than R1m. This is according to statistics by mortgage originator, BetterBond, which noted that “while the banks are keen to lend to home buyers
According to a Homeowner Insights Study conducted by Absa and Columinate in 2016, only 16% of people selling their properties trusted their estate agents. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, said that a possible reason for this statistic is the
Home loan declined! These three words are dream killers for any and every home buyer. They are the words that keep you up at night as you wait for feedback for finance from your bank on the home that has stolen your heart.
The first question
One of the most stressful parts about buying or building a new home is the waiting period between submitting your documents and essentially receiving a yay or nay from the four major commercial banks.
Understanding each bank’s criteria for lending and how much risk appetite they
The days of the 10% home deposit are gone, with mortgage originator, BetterLife Home Loans, last month reporting that the big commercial banks have all raised their lending criteria. Borrowers in the R250,000 to R1,5m price band now have to put down anything between 12.3%
Absa’s Housing Review for the fourth quarter of 2015 published on November 9, reports housing rental indices, as published by Statistics South Africa, showed that national rental inflation averaged 5% y/y in January to September this year, which was above the average headline consumer price
House price growth is forecast to remain in the single digits for the rest of the year and in 2016. This is according to Absa’s Housing Review for the fourth quarter of 2015, compiled by Absa Home Loans property analyst, Jacques du Toit.
Absa found in