The most recent FNB Property Barometer indicates a big upturn in first time homebuyers – an increase of 35 per cent since 2008, says Morne Prinsloo, director for Mortgage Plus Bond Originators.

In 2008 first time home buyers comprised 17% of the total homebuyers and in 2011 they comprised 23%.

Prinsloo said that this shows:

1. that the banks are easing up on their lending criteria – even to the extent of three of the major banks now granting 100% loans to qualified applicants, with one bank granting up to R 2 700 000.

“This,” he said, “may or may not be in response to repeated calls from estate agents to review the criteria but, whatever its cause, we are grateful and see it as a first step towards “normalisation” of the market;

2. A revival in consumer confidence in the property market – it is noteworthy, said Prinsloo, that many first time homebuyers do not have to buy: they can continue to rent or live with friends and family. The fact that they choose to do so indicates an increasingly positive mindset regarding property in SA today and this is to be welcomed.

3. The raising of the transfer duty tax exemption to homes sold for up to R 600 000, has been another boost to first time home buying

4. First time homebuyers are encouraged by the 35-year low in interest rates

The benefits of home ownership, said Prinsloo, have been so well promoted “by Mortgage Plus Bond Originators” that we assume they will be widely appreciated. However, this is not always the case among those with a “rent-forever” outlook. It is, he said, therefore encouraging that so many people at the lower end of the housing market realise that owning a home is still the most convenient way to secure growing assets, a stable family-oriented position in society and the opportunity to “personalise” one’s domestic surroundings.

“Home ownership is good for economies and the fact that South Africa’s first time homebuyers are on the increase is good news. It could be that this emerging middle class will keep South Africa on track despite disruptive elements working to break down existing social structures and change existing economic policies.”

For further information contact Morne Prinsloo on 011 327 4489 or email morne@mortgagepluscc.co.za

If you would like to know more about your home loan services and mortgage requirements please phone the Mortgage Plus Head Office on:

Attached please find the Home Loan Application Form * - Short Home Loan Application Form

0861.111.193

info@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Mortgage Refinance

If you are stuck by paying your monthly bills and looking out for some rates on your mortgage loan, refinancing is there to help you out. You can also consolidate your debts and pay your debts much faster and easier than before. All these can be done through mortgage refinancing. You should first know what mortgage refinancing is before we start.

Mortgage Refinancing

Mortgage Refinancing gives you the opportunity to use a mortgage loan to replace your current mortgage bond. You will be able to replace it, with favorable terms and rates that you can afford. The mortgage bond is taken against the same property as collateral. This may not or may exceed the current loan balance.

You can also use the left out cash, after you have paid for the current mortgage. This is a great advantage because you get some extra money to use it for your other requirements. This type of refinancing is known as the cash out refinancing.

On the other hand, getting the exact amount as loan and replacing the balance is called mortgage refinancing. Now that you are clear with the meaning of refinancing, you should also know that you can save a lot through it.

The amount that you get as loan is given at a low interest rate and this saves you money and leaves you with less stress. The terms seem to be very flexible and meet all your requirements. If mortgage refinancing can help you to save your cash, why not go for it and pay down all your existing loans.

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za