Property prices rise despite rise in mortgage declines

The average house price rose 6.8 percent year-on-year in June to R837,599 from R784,427 a year earlier.

The growth in the average purchase price amongst first-time buyers remained strong, with year-on-year growth of 12.1 percent in June.

According to the mortgage companies, the average approved bond size increased 14.3 percent year-on-year in June to R695,381, compared with R608,316 a year earlier.

The average deposit as a percentage of purchase price fell 24.4 percent year-on-year to R142,218, equivalent to an average deposit of 17 percent of the purchase price.

The average ratio of bonds declined increased marginally in June, up 1.3 percent year-on-year to 48.8 percent from 47.5 percent a year earlier, due to the higher proportion of 100 percent loans in June. On a month-on-month basis the decline ratio fell 4.1 percent to 48.8 percent from 52.9 percent in May.

The ratio of applications declined by one lender, but approved by another, increased 7.5 percent year-on-year to 24.8 percent.

“This is good news for homebuyers, as it indicates a higher probability of loan approval from another bank even if initially declined.

General sentiment had no doubt been enhanced by the successful hosting of the World Cup.

“Overall, the signs remain positive for the housing market, although we expect price growth to continue at a slightly slower pace in the second half of the year.”

By choosing Mortgage Plus for a loan, you will get that continual service to make sure you are getting the best deal possible.

CONTACT US

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Complete this short form online
Call us on 011.327.4489
Email: morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Why Deal With Mortgage Plus Bond Originators Instead of a Bank?

When it comes to personal finances, nothing stays the same for ten or even twenty years. Most people are lucky if it remains steady for one year. That is why dealing with Mortgage Plus makes so much more sense than dealing with a bank.

Getting a home loan that is flexible and can be worked with over its lifetime is crucial for any homebuyer, especially a first timer.

Here are a few of the reasons to check out using Mortgage Plus for your mortgage instead of bank:

Flexibility -

People change, so their loans should be able to change too. Flexibility is one of the most important factors needed for a mortgage, and is had much easier by using a bond company like Mortgage Plus. Banks have a lot of rigidity when dealing with rules and restrictions they put on their loans. If a homeowner wants to change their rate of payment or switch to another bond, working with a bank will make that very difficult.

Service -

People want to work with other people. Using Mortgage Plus will bring you a level of customized, personal service that a bank just cannot provide. With a bank, the policies and procedures can make it almost impossible to get personalized service.

Accessibility -

People who need to access their funds need to be able to do so promptly, and without a lot of headache. Banks do not hold a reputation for being able to provide a service like this.

By using Mortgage Plus to work with on a mortgage, you will be given many different options to access much-needed funds. If a quick refinance is what’s called for, or just getting a bit of the rising equity that has added up – it can be done right. With the worldwide economy being what it is, everyone needs options to get their hands on a little extra if they need to.

Options -

People need to have options in their loan packages. Every home is different, and so is every buyer. It makes sense that each mortgage loan should have options that make it the perfect fit for the buyer.

Mortgage Plus will make sure that the person has an interest rate that they can work with. Most of the various packages that the buyer can choose from will also contain complementary services, and other needed services like insurance cover.

Personal finances are one of the most important aspects in business today.

That is why when dealing with your home loans, you want to take the time to make sure that you are getting the best deal available. Since what is available on the market can change from day to day, you should also count on a company to have continual service that will keep you up to date.

By choosing Mortgage Plus for a loan, you will get that continual service to make sure you are getting the best deal possible.

CONTACT US

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Complete this short form online
Call us on 011.327.4489
Email: morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za