Meyer de Waal was recently invited by African Union for Housing Finance to participate in a mock Sharkroom webinar presentation to pitch his ideas to raise finance for his Rent2buy business idea.
Meyer was one of the 3 presenters – Click here to watch the 3 presentations.
THE RENT2BUY CONCEPT
The Rent2buy concept was developed in 2007 when the impact of the National Credit Act made it very difficult for a home buyer to raise a home loan.
Now in 2023, we have the similar situation (that it is difficult to convince a bank to grant one a home loan) as interest rates rose from 7 % (a 58 year all time low) to 11.25 %.
FACT – Home loan applications declined with 23 – 30%.
The Mill Park Development in Bredasdorp is a shining example of how the Rent2Buy concept can assist first time home buyers to get their foot in the door to own their own homes.
The Department of Human Settlements Western Cape provided the finances and the Cape Agulhas Municipality, Bredasdorp the 106 serviced erven.
ASLA was appointed to construct the houses.
24 – 36 MONTHS
Minister Tertius Simmers just recently extended the 24 month Deferred Rent To Own home ownership programme in Bredasdorp to 36 months – Read more
Click here to read more about the 36 month Deferred Rent To Own homeownership programme that Meyer and his team developed and implemented.
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