First-time Home Buyer
South Africans are starting to feel a little financial relief. The latest Household Resilience Index shows families are stronger than before, while booming exports and record trade surpluses are boosting the economy. In his monthly update for Phoenix Bonds, economist Dr. Roelof Botha explains what this means for interest rates, affordability, and your property journey.
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When the South African Reserve Bank (SARB) announces changes to the repo rate, the media goes into overdrive: “Interest rates hiked!” or “Rate cuts bring relief!” But what does this really mean for your home loan - and do banks really borrow money from SARB before lending it to you? Let’s break it down...
When shopping for a home loan, most buyers hope to “negotiate the best rate” — and rightly so. Even a small discount on your interest rate can save you hundreds of thousands of rand over the life of your bond. But how do banks actually decide what rate to offer, and why are there limits to how low they can go? Let’s unpack the reality.
Identity fraud is a growing problem in South Africa, and unfortunately many people only discover it when it’s already caused serious damage. At Phoenix Bonds, we’ve seen cases where clients only realise something is wrong when they apply for a home loan and the bank pulls their credit report.
As an estate agent, you’re often the first person a buyer turns to when making one of the biggest financial decisions of their life. And while buyers may feel confident approaching their own bank directly, or even another bond originator, part of your role is helping them make the smartest choice. Here’s how to confidently explain why working with a Phoenix Bonds broker is the best move for every situation.
Love them or hate them, property portals like Property24 and Private Property are a necessary part of doing business in real estate. Buyers use them daily to search for homes, compare options, and reach out to agents - which means if you’re not making the most of them, you’re leaving opportunities on the table. The good news? With the right approach, portals can be more than just a lead generator - they can be a powerful tool to grow your brand and income.
If you’ve been in real estate for any amount of time, you’ve probably experienced it: A buyer makes an enquiry, you reach out, maybe even connect them to a bond originator for prequalification… and then silence. No calls back, no emails, nothing. It’s easy to assume they’re being rude or that they’ve lost interest - but the truth is often very different.
For both buyers and sellers, clarity on the fulfilment of the bond (financing) suspensive clause is crucial. Under South African law, and in particular the National Credit Act, knowing whether “grant of bond” or “acceptance by the purchaser” triggers fulfilment can determine whether a sale proceeds - or can be lawfully challenged.
On July 31, 2025, the SARB cut its key policy (repo) rate by 25 basis points to 7%, also marking a shift in its inflation target preference. Going forward, the bank will aim for the bottom of its inflation band (3%–6%), effectively pushing for a 3% target rather than the mid-point of 4.5%.
If you earn a basic salary plus commission, overtime, or bonuses, you’re not alone. In South Africa, many professionals — from salespeople to nurses to freelancers — have variable income structures.
But when it comes to applying for a home loan, it’s important to understand how banks view this kind of income. Spoiler alert: it’s not treated the same as a guaranteed salary.
Here’s what you need to know.
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