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Insights - News Blog

From category archives: Phoenix Bonds News Blog

Home Loans

How Does Compound Interest Work on a Home Loan?

To understand what your home loan repayment is made up of (in terms of principal and interest), you first need to understand compound interest, and how it works in reverse for debt.

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Bank Value vs Market Value - and why this could be an issue when refinancing your home

Many homeowners don’t understand the difference between a market value and a bank value. This is particularly important when a homeowner wants to refinance a property that was previously unbonded, or paid off.

It can be a shock when the bank valuation comes in below the market value they had already assessed in their head. So, why does this happen? How can two “values” be so different for the same property?

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FLISP - A Government Subsidy for First-time Homebuyers

Purchasers buying property for R650,000 and below will potentially qualify for FLISP, a government subsidy for first-time homebuyers. FLISP can be used to cover transfer and bond registration costs, thereby allowing the purchaser to buy a home without upfront savings.

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Homeowners Should be Bracing for Hiking Interest Rates

South Africa's interest rate hike has been a topic of much discussion among economists and consumers alike. The recent increase in interest rates by the South African Reserve Bank has sparked a wave of concern and speculation about the impact it will have on the economy and individual households.

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Trying to Obtain a Home Loan? Our Bond Originators Can Advise You

Phoenix Bonds is a leading home loan advisory service provider in South Africa, offering expert guidance to clients seeking to finance their dream home.

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What to Expect from the Housing Market in 2023

The South African housing market has seen a period of strong growth over the past two years, with low interest rates and a strong demand for property driving sales and pushing up house prices. However, this boom is beginning to cool off as interest rates rise and the cost of living continues to increase.

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Instant Cash Loans – Be Weary and Avoid the Debt Trap

Instant loans, also known as payday loans, have become increasingly popular in South Africa as a way for individuals to access cash quickly and easily. However, with the rise of technology and the internet, it has become easier for scammers to target unsuspecting individuals with unsolicited loan offers via SMS.

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2023 – What’s in store for interest rates?

The Monetary Policy Committee (MPC) meets six times a year to set interest rates and battle inflation. Economists’ projections can be varied, but the result is typically in the middle. A collection of estimates across the industry has allowed the team at Phoenix Bonds to put together an “average” interest rate forecast for 2023.

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What are home loan interest rates and how do you pay less?

Most homeowners in South Africa require a home loan to purchase a home they want to live in, and paying interest on that loan is part of life. In this article, we unpack home loan interest and explains what it is, how the amounts that you pay are determined and how you can pay as little interest as possible when you buy a home.

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Interest Rate Hikes – There is Hope in the World of Real Estate

Our independent bond originators in South Africa have been following the market closely and aim to put your mind at ease as we explain how home owners, landlords, and tenants can still benefit from staying in the property market.

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