Would you like to reduce your mortgage repayments?
Mortgages vary, and the interest rate on the loan has a significant impact on the loan’s repayment burden.
Mortgages vary, and the interest rate on the loan has a significant impact on the loan’s repayment burden.
In some situations, it may be helpful to apply for a mortgage payment deferral.
If your mortgage payments have increased significantly, it may help to explore the options available.
When payments become difficult, taking early action and exploring available options could help you get back on track.
To make first-time home purchases easier, we lend up to 85% of the property’s market value and also offer a 100% discount on the loan origination fee.
We offer new parents the option to reduce their payments by up to half while they're on parental leave.
By applying payment stabilisation to your loan, you can pay a fixed, reduced amount for twelve months, instead of your standard monthly payment.
Mortgages are generally repaid either with fixed monthly payments or with equal principal repayments.
You can refinance a loan with equal principal repayments into one with fixed monthly payments. We then carry out a credit assessment, just as we do for other mortgage refinancing applications.
When repaying a mortgage with equal principal payments, the same amount of principal is paid each month, in addition to interest and, where applicable, inflation indexation adjustments if the loan is inflation-indexed.
Monthly repayments on mortgages with equal principal payments are higher at the beginning than with fixed monthly payments, but they decrease over time as the outstanding balance is reduced.
When repaying a mortgage with fixed monthly payments, the total monthly payment is approximately the same each month.
If the mortgage is inflation-indexed, the monthly payments will generally change in line with the consumer price index.
Compared to equal principal repayments, fixed monthly payments are usually lower at the beginning of the loan term.
Housing loans come in different forms, and the interest rates that the housing loan carries have a significant impact on the loan's repayment burden.
The credit assessment is completed electronically and only takes a few minutes. To calculate your repayment capacity, we collect information such as your salary income, assets and liabilities.
Choosing the right mortgage is a major decision that affects your household finances for many years. Therefore, it's important to understand how the choice of loan term and type can change both the payment burden and total cost. Whether the loan is indexed or non-indexed, and how long the loan term is, can have significant effects on payment burden and equity building.
After checking your payment capacity and securing a down payment, it's time to find your dream property. This process can take varying amounts of time, but it's important to choose carefully and find a property that has most of the features you're looking for.
Most people have very clear ideas about what kind of apartment they're looking for and what requirements it needs to meet, but it's good to keep in mind that you may not find an apartment that fulfills all your wishes. When buying your first property, you often need to prioritize features and choose the property that checks the most boxes if you can't find one at the right price that meets all your criteria.
It is important to regularly pause and check the status and terms of the loans and financial obligations you have. It can make a significant difference to refinance loans that carry high interest rates or are unfavorable in some way.
When taking out a new loan, the repayment period can be crucial. The maximum loan term varies, but the longest loans are for real estate purchases, which can extend up to 40 years.
It is difficult to determine whether renting or buying is right for you, and this is mainly guided by your financial situation and financial goals. You should calculate both options thoroughly before making a decision. If you are considering purchasing property, there are several important factors you should familiarize yourself with and be clear about before you begin the process.