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Q. How do I apply for a home loan?
A. Very easy, just complete the (link please) online application form and then click on “submit application” at the bottom of the page. As soon as one of our consultants receive your submission, they will call you and handle the whole process, making sure you get the best home loan rate available.
Q. How do I know if I qualify for a Home Loan or a further advance?
A. Our consultants will assist you since various factors must be taken into account. Persons who easily qualify for a Home Loan or a further advance are property owners younger than 60 years with a very low bond or no bond on their property. (General home loan information link page = {more info}
Q. Who does not qualify
A. People with a bad credit record (ITC)
People with poorly managed bank accounts
People whose bond payments are in arrears
People whose hire-purchase payments are in arrears
People whose general accounts (electricity bill, rates and taxes, etc) are in arrears
People whose property, vehicle or furniture was repossessed due to non-payment
Q. What security is required?
A. the loan must not exceed 80% of the market value of the property. The municipality valuation and or the replacement value cannot be used.
The minimum market value of the property must not be less than R75,000.00
The property must be insurable – in a good state
The monthly payment may not exceed 30% of gross income
Q. What will my monthly instalment be?
A. Our consultants will calculate the monthly repayment amount for you depending on the amount of money you borrow, the time period chosen and the current interest rate. You will also use the home loan calculators to obtain an estimate.
Q. How much cash do I need to buy a home?
A. As a rule of thumb, you should allow between 8% and 10% of the amount of your home loan. This amount excludes the deposit. Also visit our costs page as there are a lot of hidden costs most people aren’t aware of when purchasing a home. Home loan costs involved link {more info}
Q. Do I need to take out insurance?
A. The banks require that you commit to a house-owners insurance policy that covers the property against natural disasters like fire and storm damage. We can assist you with this cover as Property Lifestyle is affiliated to a registered licensed short-term company Liso Life & Investment Solutions (Pty) Ltd who will be able to issue you with competitive quotes from the major assurance companies.
It also is advisable to take out a life assurance policy to pay off the bond in the event of your death. Property Lifestyle once again can assist you with life cover quotes from its affiliated company Liso Life & Investment Solutions (Pty) Ltd who is contracted to all the major life assurance companies. Home Owners insurance link {More info}
Contact Us Today - We Can Help You !
Looking for a New Home Loan, Bond Extension, 2nd Mortgage or just curious to see if you can get a better Interest Rate. Let us help you. We offer a Free and Professional Service.
No Obligation Application - Apply Online Now!
Are you looking for a New Home Loan, Bond Extension, or 2nd Mortgage. Let us help you. We offer a Free and Professional Service. Click Here to contact one of our licensed consultants today.
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