Phoenix Bonds - Your Bond Originators in South Africa

The Financial Sector Regulation Act (FSRA) of 2017 in South Africa is a key piece of legislation that establishes a system of financial regulation, with the aim of preserving and enhancing financial stability, improving market conduct, and protecting financial customers. It also creates the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA), which are responsible for regulating and supervising financial institutions and financial products. 

The Financial Advisory and Intermediary Services (FAIS) Act 37 of 2002 is a South African law that regulates the financial advisory and intermediary services industry. Its main purpose is to protect consumers of financial products and services, professionalise the industry, and ensure that financial service providers act in a competent and ethical manner. The act applies to many intermediaries, including insurance brokers and mortgage brokers.

The National Credit Act (“NCA”) of 2005 is a law designed to regulate the consumer credit market in South Africa. It aims to promote a fair and accessible credit environment, protect consumers, and encourage responsible credit practices. How does that shape the landscape for consumers?

Congratulations, your home loan was approved! Now what?

It’s time to start planning to move into your new home, or get a tenant for your investment property, and prepare for your very first home loan repayment. It’s essential to meet the deadline for every repayment on your home loan to ensure your credit score stays in tact and your chances of applying for more credit are not affected.

Most consumers are aware that any lender in South Africa doing a credit check on their personal profile could negatively affect their credit score. While this is true in some circumstances, it’s important for consumers to understand when it applies.

There are certain types of credit checks that affect a customer’s credit score, and some credit checks that will not affect scoring at all.

There are many different types of loans and methods of calculating and repaying interest. Your home loan is quite possibly the longest loan commitment you will make, so it’s critical to understand how the interest is calculated over the life of the loan, and what each repayment is actually made up of.

The prime rate has decreased three times by 25 basis points since September 2024, bringing the current prime rate down to 11%, which is good news for homebuyers. But why is it taking so long for the market to respond?

Discovery, in partnership with SA Home Loans, has introduced a home loan offering that incorporates its signature rewards-based approach. Clients have the opportunity to receive up to a 1% interest-rate discount based on their financial behaviour and engagement with Discovery products. But is it worth pursuing?

If you’re buying or selling a half share of a property, you may think the process will easier than buying a property outright, which is a common misconception. There are many legal intricacies, valuation considerations, and co-owner agreements that play pivotal roles.

This article relates specifically to the buyer of a half share transfer, and their cost and financing considerations.

If you’ve been part of a sequestrated estate and recently rehabilitated, you’re probably thinking about how to start building up your wealth again. One of the main concerns for rehabilitated insolvents, who most likely lost their home on the process, is how to begin the process of buying property with finance.