Can I disagree with you without being attacked? You don't need to have a good credit score to save on the interest paid. The person C can pay extra to improve the credit score and reduce the interest. If you can please do a video showing that please. Because not everyone can wait to have a good score without the homeloan.
I agree with you. At 4:16, the calculation is based on repayment for someone who has a good credit score. The person with a bad credit score will have to pay R10000 + R3633 to have the same reduction
Hello. Thank you for the information. We have always paid extra into our bond (almost 5 years now). When we purchased our home we had no deposit or collateral to borrow against. Would the bank be prepared to renegotiate our bond due to our excellent track record or must we look into remortgaging our home with another bank in order to get a more favorable rate? TIA
Pay 10% extra into your bond every month at least, pay all your extra savings into your bond and all lump sums. Analyse your monthly expenses and see where you can cut - there always are places. Then take these extra savings and put it towards your bond repayments.
After 6 or 12 months then apply to have your homeloan converted into an access bond. This way you don't have to have a separate loan for buying a car etc you can access all the money in your home loan for the car this way you only have 1 debt account. But remember a car is not an asset unless it helps you generate an income.
Female. 28 years old. Not married. Black African. 725 CS. Bout to purchase R600 000 home. Have already been advised that current interest rate on home loans is 7.5%. Talks of bond originators and such. No lawyer. Completely confused. Please advice.
I dont want to troll, but I see clients get the 2nd and 3rd best deal without them knowing better... If I may assist with your current bond (yes 2 years later), please reply and I will leave my number
Yes you can brother. I actually lied to the banker I feel bad but I said Capitec is giving me 0.4% interest less and standard bank matched that without questions. I was so proud because I have been learning how to negotiate on youtube since I was in high school and it works! 😃i now drive a Honda Ballade 2016
If you are married in cop and your partner is negligent with their credits, your good credit score does not help you to reduce the interest to prime. People should start taking responsibility of their debts, especially when they know that they have gotten other people involved.
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