finance , the increasing expense of fuel and groceries , and poor salary growth , it ’ s no surprise that South Africans are feeling the pinch . This hasn ’ t only affected new bond applicants , but also those paying off existing home loans .
For example , someone paying R7,675 per month on a R1 million home loan , mid-2020 , would now be paying 9,390 per month . That ’ s almost R2,000 extra to find in the budget , every month .
There ’ s no doubt that bond repayments have become a struggle for some homeowners . As bond originators , we ’ re sometimes able to advise struggling bondholders on ways to restructure their personal finances to free up capital for their bond . When this isn ’ t possible , or the results aren ’ t significant enough , however ,
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