COVER STORY
• the Government Employees Housing Scheme ,
• any other Employer-Assisted Housing Scheme ,
• an unsecured loan ,
• an Instalment Sale Agreement or Rent-to-own Agreement .
Save even more - Renegotiate high interest rate to a lower rate
Many homeowners are trapped in their high interest rates when their home loans were granted .
Their financial situation may have improved , and they do not know that they can approach their own bank to consider a reduction in their interest rate for their home loan .
Take the example of Tumelo , whose home loan was approved at a rate of 11,2 %, which is higher than the current prime lending rate of 10,5 %.
Based on the interest rate of 11.2 %, Tumelo will pay R1 519 755.00 over a period of 20 years to settle the bond .
How it looks now
42 FEB 2023 SA Real Estate Investor Magazine