Archive for October, 2012

With Home Loans, Strict Is The Rule

This bodes well for lenders, so in the meantime, don’t look for any dramatic relaxations. To get a home loan, you’ll generally need high credit scores, big down payments, plenty of time and reams of documentation.

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South African’s Drowning In Debt

The Reserve Bank’s September quarterly bulletin shows that the ratio of debt to disposable income has increased from 75.6% in March to 76.3% at the end of June.

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Home Loans Are All About Credit Scores

“A borrower with a credit score of 702 will pay a one-fourth-percent higher interest rate than someone with a credit score of 720, even though those are both good credit scores,” said Adv Randolph Samuel, CEO of Consumer Foundation of SA, a consumer rights education NGO.

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Consumer Financial Vulnerability Index Q2 2012

The decline meant consumers slipped from “mildly exposed” to risks in cash flow position in the first quarter of the year to “very exposed” in the second quarter.

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