Home owners
If you are a home owner and have equity (current value less outstanding
bond) in your property you can use this profit to secure another loan
from a bank by taking out a second bond. Many people now have equity
in their homes as the property market has been steadily going up and
therefore increasing the value of properties.
The process you need to go through is to approach a bank or a mortgage
broker and apply for a second bond (also called refinancing). The
best is to contact a mortgage broker who will provide a free service
and give you access to several lending institutions and find the best
rate for you.
At Debt Therapy we do not provide home loans, we will place you under debt review to deal with your creditors and help you get back on track. Click
here to submit your details for an initial assessment.
If it appears you could be eligible
for a loan you can then turn to a bank or a mortgage broker. You can shop around yourself
and find one that suits you. You will find numerous mortgage brokers
for example by typing in “Bonds”, “Refinance”,
“Second bond”, “Debt consolidation loans”
or other relevant search terms into search engines such as Google.co.za
(make sure you tick “pages from South Africa” in order
to get search results from South African companies only).
If it looks like you are Not able to get a home loan, the good news
is that we can still help you. Then you can use our debt management
program to get back on you feet. Click
here to find out more about submitting an application.
Company Registration No.2005/001817/07.
