First-time Home Buyer
From the time of visiting a preferred area to hunt for a suitable property, applying for a bond, registering the bond, transferring the property to the day of occupation, it is quite an involved process with many role players playing their part.
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With the Russia – Ukraine conflict in full swing, the economic growth prospects of a world reeling from the effects of the Covid-19 pandemic look bleak. A decline in the energy and food production sectors will certainly result in the disruption of global trade, while pushing inflation higher.
Buying an immovable property is one of the most fulfilling experiences in life, and when one embarks on that endeavor, hurdles along the way are definitely not appreciated. This is why more and more home buyers are finding it much easier and convenient to use the services of bond originators in the application process of home loans.
The income that different people get periodically comes in various forms. For some it comes as a salary per month or per week if they are formally employed, whilst for some it comes as profit in the event that they are self-employed.
Buying a property in a property development works much in the same way as the proverbial words in Hebrews 11 verse 1 defining faith. Despite having its own peculiar benefits, it is a move based on trust as the Purchaser is essentially buying a property that cannot be seen at that time and which will only be visible in future. It surely is being ‘sure of what you hope for, certain of things not seen.
Buying an immovable property is largely dependent on the financial reserves available for the purchase (affordability), just like acquiring any other asset. Whilst cash purchases are straight forward and quick, purchases through home finance may experience twists and turns owing to various reasons. It is quite an involved process from application to final approval of the home loan, but certainly it is a process in which parties are in a position to lessen the hassles and not cause delays.
Parties involved in immovable property purchase transactions always hope that the transactions will be completed without any glitches.
More and more South Africans are opting to utilise the services of Bond Originators owing to the numerous benefits that are presented by their services.
The interest rate on a credit facility forms part of the Lender’s profit and benefit, and is therefore structured to achieve that end. With regards to Home Loans, there are two types of rate of interest structures which an applicant may choose to apply on their loan.
The purchase price of a house is only a part of the costs involved in buying a home, although it is understandably the largest chunk, it is not the only cost or fee involved.
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