Home buyers are taking out personal loans to fund deposits
South African home buyers are putting down bigger deposits than ever. Around 5% of home buyers are taking out personal loans to do so.
South African home buyers are putting down bigger deposits than ever. Around 5% of home buyers are taking out personal loans to do so.
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Despite the current cycle of interest rate hikes which always puts strain on home buyers, especially first-time buyers, Rhys Dyer, CEO of ooba Group shares that “Year-on-year property price growth in most provinces has slowed to rates well below inflation.
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Seeing that the new property laws have come into effect under the Property Practitioners Act (PPA) at the beginning of this month, both homeowners and the property industry at large now have new options available to them when choosing how to manage their deposit.