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What if a previous owner owes money to the local authority?
Property Finance

What if a previous owner owes money to the local authority?

Can a local authority refuse to open a new owner’s account when the previous owner still owes the local authority an outstanding amount? This question was dealt with by the High Court of South Africa, Gauteng Division, in July 2022, when a newly registered owner took the previous owner – as well as the Ekurhuleni Metropolitan Municipality as second Respondent – to court.

August 24, 2022
Fixed vs variable interest rates
Property Finance

Fixed vs variable interest rates

You’ve finally found your perfect home, made an offer and applied for finance to assist with your purchase. But when you receive the mortgage letter from the bank, you’re left trying to understand unfamiliar terms and concepts including prime interest rates, repo rates, and fixed or variable interest. Here’s what you need to know to make sense of it all.

July 18, 2019
Transfer and bond calculators
Property Finance

Transfer and bond calculators

Buying a home is an overwhelming enough task without being hit by unforeseen costs. The best way of avoiding unpleasant and costly surprises is by carefully looking at your affordability and making use of convenient tools such as transfer cost calculators and bond calculators to simplify the process.

May 31, 2019
Your bond application: A key ingredient to the property transfer
Property Finance

Your bond application: A key ingredient to the property transfer

Buying a new property is simultaneously an exciting and stressful experience. One of the important processes that can be quite overwhelming for buyers is the bond application process which is a key element of most property purchases which is why you should get your ducks in a row to have the best chance of success.

January 8, 2019
Your bond settlement amount – a brief guide
Property Finance

Your bond settlement amount – a brief guide

The sale of a property can often bring with it unforeseen expenses, but this needn’t be the case. To take the mystery out of bond settlement costs, we have put together this brief overview so that sellers can plan appropriately and avoid being caught off guard.

September 28, 2018
Multiple mortgages
Property Finance

Multiple mortgages

Extending finance on a home loan is possible in two ways: accessing funds under security of the already registered bond or, should the security provided under this bond not be sufficient, a second bond can be registered.

July 5, 2018
Approval in principle
Property Finance

Approval in principle

Buying a home can be a stressful process, particularly in a competitive market where you need to move quickly or run the risk of losing out on buying the property of your dreams. Being given an ‘approval in principle’ from a financial institution can play a significant role in moving ahead with the property agreement contract.

April 2, 2018
Deposits on new developments
Property Finance

Deposits on new developments

Purchasing a property off plan is often considered a good investment. But before putting down a deposit, it’s important to understand what this means…

January 26, 2017
2016 – a year in review
Property Finance

2016 – a year in review

2016 is fast approaching its end, providing an opportunity for us to reflect upon what has been an exciting and successful year, although it has not been without its challenges.

December 14, 2016
Buyers beware of the “subject to bond approval” clause.
Property Finance

Buyers beware of the “subject to bond approval” clause.

The ins and outs of “subject to bond approval” clauses.

October 28, 2016
What lurks beneath the repo surface?
Property Finance

What lurks beneath the repo surface?

The pros and cons of investing in repossessed property.

October 28, 2016
Must-knows about new developments
Property Finance

Must-knows about new developments

New developments bring a level of unknown into the property purchasing equation. Exciting or intimidating, there are a number of things to consider before taking the plunge.

August 29, 2016
Homeowners insurance is required for a bond
Property Finance

Homeowners insurance is required for a bond

Financial institutions will typically require a buyer to take out homeowners insurance before approving a bond application.

July 22, 2016
How to get a bond if you’re self employed
Property Finance

How to get a bond if you’re self employed

While there may be additional information required to successfully be granted a home loan, being self-employed should not be seen as an obstacle to accessing finance.

June 15, 2016
Repainting a rented property – who should pay?
Property Finance

Repainting a rented property – who should pay?

Maintenance of houses and apartments can be a costly aspect for any property owner, but when it comes to renting, who is responsible for these costs – the owner or the tenant?

May 23, 2016
All rental income should be declared to SARS
Property Finance

All rental income should be declared to SARS

Income received from investment and rental properties falls into the category of taxable income, and as such should be declared to SARS and included in your annual tax return.

April 25, 2016
Beware of Capital Gains Tax when you sell
Property Finance

Beware of Capital Gains Tax when you sell

At first glance, Capital Gains Tax (CGT) may seem like yet another thing to worry about when completing a tax return, but it needn’t cause confusion.

March 29, 2016
A bank may require notice to cancel a bond
Property Finance

A bank may require notice to cancel a bond

Paying off a home loan ahead of schedule can be beneficial, but paying close attention to the agreement is important to avoid additional fees…

December 14, 2015
Transfer Duty
Property Finance

Transfer Duty

To whom is Transfer Duty Payable and how is it calculated?

March 15, 2015
Non-residents
Property Finance

Non-residents

May Non-Residents buy a property in South Africa?

March 13, 2015