Click Here for a Personal Loan Applications

Archive for the ‘News’ Category

March 17 2010

New Car Sales in 2010

Everyone is holding thumbs that lower interest rates and optimism surrounding 2010 will help boost the local motor industry during 2010;

SOUTH AFRICA: NEW CAR SALES UP 20% IN JANUARY… physique NAAMSA uncover which a automobile marketplace grew by 15.5% year-on-year in January, yet a organization warned which Jan final year was unusually weak. See strange here: SOUTH AFRICA: New automobile sales up 20% in January.

Car sales are up, 2010 is off to a great start! | Common DialogueThe motor industry is the most volatile manufacturing industry in South Africa, measured over any significant time period. Hence this extreme gyration in sales is not totally unexpected. In both 2004 and 2005 sales of passenger car …

NAAMSA January 2010 FiguresThe market in January, however, has come in substantially above expectations reflecting a larger than normal carry-over of new car sales into the new year,” commented Mike Glendinning, Director of Sales and Marketing, VW of SA. …

Justmoney News » Blog Archive » New vehicle sales rising in SA South Africa continues to emerge from the economic recession stronger than ever after newly released data showed that new vehicle sales in the country went up by 20.5 percent in February.It was the second consecutive month of … Whether you’ll be buying your first vehicle brand new and in cash or whether you’re considering vehicle finance for a new or used car, there are a few things to keep in mind before going ahead with the purchase: Read the rest here… Share This! …

Vehicle sales continue growth path; Toyota holds steady,/a>The National Association  of Automobile Manufacturers of South Africa (Naamsa) on Tuesday reported that new passenger car sales in February grew by 27,5% compared with the 20 403 new cars sold during the same month last year, when sales …

New car sales driving higher Aggregate industry new car sales during February, 2010 had exceeded expectations and at 26009 units reflected a massive improvement of 5606 units or 27.5% compared to the 20 403 new cars sold during February, 2009 when sales had been …

Lower interest rates and and an upturn in the local economy should see an increase in applications for car finance , the industry has been struggling over the last few years and this is reflected in the low levels of credit extension in the vehicle finance sector.

March 16 2010

Interest Rate Outlook 2010

We survey the blogosphere to see what others are predicting for interest rates during 2010 ;

Lower Interest Rates Will Revitalise Property Market By 2010
In 2009, the direction of the property market is largely defined by what is happening globally as well as politically in South Africa.With the introduction of the National  Credit Act as well as high interest rates, loans became …

South Africa keeps interest rates on hold at 7% – MarketWatch/FRANKFURT (MarketWatch) South Africa’s central bank decided on Tuesday to leave its repurchase rate unchanged at 7.0%. The decision was in line with market expectations.

South African inflation targeting to stay – Nene.
Opponents of the policy argue that efforts to contain inflation within the 3 to 6 percent target range have kept interest rates too high, adding to job losses during last year’s recession. The central bank raised interest rate by 500 …

South African Business – Standard Bank sees interest rates rising.
Posted by business on Thursday, March 4th 2010. Is it time to be cautious with debt or will it still be affordable? Read More on Moneyweb · Report This Post. Categorized in Uncategorized …

Sentiment appears somewhat mixed , but all experts agree that lower interests should play an important role in stimulating housing demand , resulting in a more robust property sector during 2010. We are also starting to see a slow uptick in new car sales – most agree that the economy has bottomed out.

January 15 2010

Mortgage Loans

After a bad year for the property market many experts are predicting that 2010 will be a good year for the South African property market.

I have rounded up some of the best mortgage loan stories from the web and the blogosphere , especially those that be relevant to the South African mortgage market.

Nedbank Homeloans – Rumored To Be One Of The Best, But Are They …

In order to qualify for a Nedbank home loan, you must be a South African resident with a good credit record. Also, minimum monthly income requirements exist. Before you ever think about apply for a home loan, make sure you check your credit report. … The higher your credit score, the better home loan terms will be offered to you. You also want to make sure you have two or three months? worth of mortgage payments in the bank. These are called reserves. …

Everything About Loan | Solutions About Personal,Mortgage,and …

The significant growth that the RE/MAX Real Estate firm has experienced manifested in its development in Africa, Asia, Australia, the Caribbean, Central America, Europe, Mexico, New Zealand and South America. …

BANK REPOSSESSED PROPERTY AND MORTGAGE BOND | South African …

The answer is that once your have signed an offer to purchase, there is usually only a limited time available to secure a home loan, and the quickest and most effective way to do so is usually through a mortgage originator. …

How to secure a 100% Home Loan | SA HOME LOANS

How to secure a 100% Home Loan –>. Home Loan Tips: Which banks are offering are currently offering full 100% bonds? The four major mortgage providers in South Africa are: ABSA Home Loans; Standard Bank Home Loans; FNB Home Loans …

July 7 2009

Absa Bank – House Prices Still Weak

Absa’s House Price Index confirms that house prices are still very weak in 2009 , however their analysts believe that the property market should start inproving during early 2010. According to the study for the period to June 2009 , house prices declined by 4.4% year on year and adjusted for inflation the real decline is 11.1%.

Expectations are that this trend should continue through 09 and start slowing down towards the end of the year. The effects of rate cuts should start taking effect , rate moves typically have a lag effect and could take up to 18 months before they impact on the consumer confidence and the economy. Another factor to consider is that debt laden consumers are using rate decreases to pay down debt which has positive long term benefits for the South African economy.

According to the Absa House Index

Small Houses (80m²-140m²) declined by 4.7% with the average house valued at R 653 000 ,

Medium Houses (141m²-220m²) declined by 3.1% with the average house valued at R 917 600 ,

Large Houses (221m²-400m²) declined by 0.5% with the average house valued at R 1 381 700.

It is interesting to note that larger house showed the lowest decline indicating that larger houses might well be a better investment . Weaker house prices are good news for property investors shopping for bargains and buyers who don’t have to sell an existing property.

Homeowners should focus on reducing their debt levels and paying down their mortgage.If you don’t have to sell then it would be prudent to hold on until next year when the economy starts to improve and the country is in the midst of World Cup euphoria.

Click Here for THE BEST HOME LOAN DEAL EVER!
May 28 2009

MPC Cuts Rate 1%

Good news for consumers and anyone with debt , the Monetary Poilicy Committee (MPC) of the South African Reserve Bank (SARB) cut the Repo rate by 100 basis point. This is pretty much in line with what the markets were expecting and equities and the Rand all responded well to this positive news.

Reserve Bank Governor Tito Moboweni did however warn that future rate cuts could not be counted on as cost pressures within the South African economy were still high and the SARB still had its eye on inflation and its inflation targeting mandate.

It is unlikely that these rate cuts will have an immediate impact on consumer confidence and spending as most consumers will look to reducing mortgage loans and other debts like car loans and credit cards. Many are probably behind on their debt commitments so any interest savings will in any likelihood be used to catch up on overdue amounts.

Anyone who is paying off a mortgage or a car loan at least has reason to smile tonight. To calculate your new bond payment and see what you monthly savings will be you can use our mortgage payment calculator.