Home Loan

[TheTwo]

So I wanna buy an apartment

I already have a bond of R700k and based on the banks calculations on affordability, i figure they wont give me a homeloan of R520k but i also learned that if you have a lease agreement from a tenant, then they consider HALF of that amount as income

Any suggestions?

I was thinking of using SecuBond or SAHomeloans

Need a bond 'contact' is what i need

Happy Monday AFTERNOON!

 

[Mila]

Why would you buy an apartment?

You do know the risk in renting it out?

So you are saying that you earn in access of R30 000 a month?

 

[davemc]

Voider, it's a massive massive massive amount of money.
Now why on earth would you not approach every single institution that you can to negotiate yourself the best possible deal?

It always makes me want to cry when I see how easily people step into these massive loan agreements, with the first person that tells them they're getting a good deal.

 

[blunomore]

You do know the risk in renting it out?

You get rent insurance to cover that risk.

 

[Billy]

www.ooba.co.za Formally SA mortgage. They will approach all the big lenders on your behalf at no cost to you. Great service I am getting -2% on prime.

www.rentmaster.co.za to collect rent and insure collection @ about 4% of rental.

 

[TheTwo]

Thks guys

i'm going to call OOBA tomorrow and i didnt even KNOW there was such a thing as rental insurance
now i'm a lot happier

thank you all so much!