In the current economic climate many homeowners are battling to keep pace with their monthly bond repayments. All because of the rapid increase in home loan interest rates. You could be one of those looking to avoid the next round of rate hikes. One way to do that is to re-negotiate your bond rate. To find out how to do this, watch Yilungelo Lakho (It’s Your Right) Tuesday 18 October at 4:30 pm on SABC 1, with a repeat on Wednesdays at 11 pm on SABC1.
With the focus of the interview being on how to re-negotiate/review a home loan interest rate with a bank in order to settle on an affordable financial outcome, homeowners are not having it easy this year. Many have no choice but to fork out more cash to meet their home loan repayment obligations. This monthly cycle looks set to continue as the Reserve Bank has hinted at further rate hikes. Renegotiation of home loan interests rate is one of the options. What does it entail?
Herewith talking points that they will be touching on during the interview:
Is such an exercise worth it or are there more useful methods of easing the financial squeeze when it comes to home loan repayments?
This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)