FNB property barometer some interesting news

Square metres of residential building plans passed vs completions 

Preparation is Key to Getting a Loan

It is definitely a myth that there is no funding available for entrepreneurs, as there is without question more funding than ever before available to entrepreneurs in South Africa. If you are in the market for a personal loan or need a loan to get your business off the ground and have not being successful in securing a loan is often the main reason why entrepreneurs often put off going it alone or individuals simply give up on trying to secure a home loan, personal loan or other much-needed finance.

Take note that not all businesses suit all financiers. Many entrepreneurs will soon become frustrated trying to access funding because they are not being successful. Many successful business owners will admit that they asked numerous funders before getting the finance they were looking for. This is usually due to a number of factors ranging from being unsuitable to not having all their ducks in a row.

Entrepreneurs usually learn from trial and error and adjust the sales pitch to the lender. One way to increase your chances of getting financing is setting up a pre-pitch meeting with the lender. You need to find out exactly what it is that they are looking for and what you as an entrepreneur can tweak and change to increase your chances of getting funding.

There are usually areas that you have not even thought about and you would not have been in a position to answer certain questions in an interview. Preparation is all-important when asking for any type of loan.

Funding is usually the bugbear of most entrepreneurs and the general consensus is that there is no funding – but this is simply not the case at all.

You can always bootstrap your business – did you know that many of the most successful businesses globally were launched on a wing and a prayer and no outside funding whatsoever? Alternatively find the right funding medium that suits your business but ensure that you get everything ship-shape prior to pitching to your funders.

If you are in the market for a personal loan, a loan for your business or a home loan, it is always wise to prepare well prior to giving your pitch.

FNB Home Loans Update - From Head Office

FNB Housing Finance is excited to announce that we have now officially joined Home Loans and
other banks in rolling out Interbank Document and Data eXchange (IDX) for our customers.

IDX is an interface which allows bank agents (within FNB) to request bank statements from all
other banks using a specified criterion. The purpose of this crossing point is to eliminate the
lengthy and unpleasant process of having to ask and wait for customers to bring their monthly
statements from banks which they hold their personal active account/s in order for their “loan”
requirements to be considered. Furthermore, this also allows the affected bank to be privy to
information which the customer might withhold/omit that could prove to be troublesome at a later
stage.

For now, customers are allowed to opt not to partake in this roll out but it will be mandatory at a later
stage. We request that you utilise the existing (applied by other banks) form for all FNB Housing
Finance customers who would like to involve themselves in this roll out.

Thank you for your continued support.

There is no problem with Hoedspruit - 100% home loans available.

There is no problem with the estates in Hoedspruit.


Obtaining finance and a home loan even a 100% home loan is possible.

Why there are so many properties available, especially vacant stands is because when there was the property boom about 5 years ago, developers climbed on the band wagon and started developing all these estates. Some were great and some not.

As you know Hoedspruit is a small town so without the outside and overseas buyers, who became fewer and far between, when the market dropped, these properties could not be sold.  But it seems to be changing.

Over the past year the market has gradually recovered and we have seen more movement as far as property changing hands is concerned and Hoedspruit seems to have become the destination of choice and International home loans, mortgages and banking has been a normal occurrence once again.

Hoedspruit is a lovely little town with a  friendly and caring community that attracts one time visitors to become residents.  So looking for finance contact your favourite financial wizard.

So managing your home loan and prioritise your debt

Pretoria:  South African homeowners are trying to do a better job of keeping up with their bond payments and we think this is being helped by a perception of an improving housing market and of course the constant low interest rates that are making it easier to refinance and also that loans are getting a bit easier to get.

The percentage of bond holders at least two to three months behind on their payments fell in the third quarter to 5.41 per cent, the lowest point in more than three years, credit reporting agency TransUnion in the USA stated and we in SA seem to be leaning that way as well. I look forward to Loos report and Rode reports at year end.

In the USA, the mortgage delinquency rate has not been this low since the first quarter of 2009. Still, it remains well above the 1 per cent to 2 per cent average historical range, an indication that many homeowners still are struggling to make their payments.

But, here back home in SA, the question is: have your finances turned the corner?  Well, many homeowners changed the way they prioritize their financial setup after the value of their homes crashed with the world housing crash. I wonder if this has changed yet?  I think not.

We know that people used to pay their bond first, and now they pay their cars and their credit cards and then accounts before their home loan.

Even so, some owners are benefiting from the gradual turnaround in housing this year as we see prices stabilise, interests rates remaining low and generally a better feel out there.

US home prices jumped 5 per cent in September compared with a year ago, the largest year-over-year increase since July 2006, according to data provider CoreLogic.

Generally speaking, higher prices help bring down the number of homeowners who owe more on their bonds than their homes are worth, potentially making it easier for them to lower their monthly payments by refinancing.

And interest rates remain near record lows, making it possible for more homeowners to qualify for refinancing and normal financing. The average rate on a 20-year mortgage was 8.5 per cent land has remained below 9% all year.  Awesome.