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Estate agencies are reporting improved lending appetite from banks. This is backed up by bond originator ooba revealing last month that the company recorded the highest home loan approval rate (76.9%) in Q1 2018 in the 10 years since the National Credit Act was enacted.

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South African homebuyers, it seems, have heeded the warnings from financial institutions and home loan experts since 2016, and have managed to reduce their short term debt before applying for bond finance. According to Trading Economics April 2018 data, the average South African (not just those

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First time home buyers often get caught by surprise when banks ask for a deposit in order to secure a home loan. “When applying for a home loan, banks will access your credit status to establish whether you will be able to meet the bond payments.

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