When looking for a new home loan or wishing to transform your existing one, there is no better place to turn to than Mortgage Plus. As specialists in the home loan industry in South Africa, Mortgage Plus will give you the best assistance and expert home loan advice to ensure that you in turn make the right decision regarding a home loan that is best suitable to your personal finances and needs; and you will therefore benefit greatly from utilising the outstanding services which Mortgage Plus has to offer in terms of guiding you through the entire application process.

The finance industry is complex and often very intimidating to those who have little or no experience and as such Mortgage Plus was started to assist in the transformation of existing home loans by giving aid in getting bond extensions and credit extensions; the reason for the rampant growth of this company’s popularity among existing home owners in South Africa who desperately require Mortgage Plus expert advice and assistance.

On Capital Gains Tax

Capital Gains Tax was introduced on 1 October 2001, needing to be paid by all South African residents and non South African residents who make a profit or loss when selling fixed property of a capital nature located in South Africa.

What Capital Gains Tax means fro home owners is that taxpayers, including individuals, trusts, companies and close corporations, will be taxed on the profit they make when they sell an asset or property of a capital nature. So basically, Capital Gains Tax is a tax on the resale of assets.

In most cases, provided that the property is smaller than two hectares and the profit is less than R1.5 million, Capital Gains Tax will not affect your primary residence. On the other hand however, homeowners will be liable for Capital Gains Tax on second properties or holiday homes that are not occupied as a primary residence or on any portion of a primary residence that is used for business purposes. Furthermore, Capital Gains Tax does affect all properties registered in the name of a close corporation, trust and company.

Mortgage Plus: Expert Home Loan Assistance

Mortgage Plus knows this information and, by utilising their home loan assistance, you can ensure for yourself that everything that needs to be is taken care of with regard to all costs being paid, etc. To elaborate, with Mortgage Plus on your side you will experience no glitches, and the process of applying for a new home loan or transforming your existing home loan by getting a bond extension or credit extension will run smoothly.

So if you are looking to get a credit extension on your home loan or wanting to apply for a new home loan, there is no better place to turn to get the expert advice and quality assistance you will need to ensure that everything is taken care and that the best possible decision is made in terms of the perfect home loan for you as an individual.

Mortgage Plus is here to help you. Get in touch with us now and experience the pleasure that it is of having an expert on your side every step of the way. www.mortgagepluscc.co.za / 011.327.4489

1.    Accept that property is always a long term investment with ups and downs.  If you are out for a quick buck, you will not find it in property. 

2.    Secondly, set yourself the goal of building up a property portfolio which you expand steadily.  Do not sell your investment property, even to buy another.

3.    Third, do not rush this process:  avoid the temptation of buying many highly-bonded properties.  Rather buy one and gear it correctly before you move on to the next purchase.  Later, as your income increases, it may be possible to buy more than one property at a time.

4.    Fourth, diversify your portfolio.  Try to invest in both freehold and sectional title residential property, as well as small commercial and industrial units.  Try also to avoid being in one area. The markets fluctuate: if you are spread wide this will cushion the rises and falls.

5.    Fifth, accept that your own home is part of your portfolio.  Too often, as salaries increase, so does the desire for a bigger and better home, resulting in huge bond repayments.  Rather have a moderate home and save by having a small bond here and use the spare cash to buy elsewhere where you will earn rent.

6.    Sixth, unless you face financial disaster, do not sell.  The ancillary costs of buying and selling are high – you will have capital gains tax, agent’s fees, transfer and conveyancers’ fees – all of which will eat into your profit.

7.    Seventh, focus on income rather than capital growth.  The more cash you can actually collect monthly, the better your chances will be of buying elsewhere.  Focus on the cash and the capital growth will look after itself.

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