With the earlier repo charge hike (it stayed the dame this month) bond holders repaying a R1 Million residence are actually having to pay round R10 800.
It is because because the Repo Price goes up customers are having to pay extra for the financing of their loans.
That has roughly been a large improve of R3000 over the previous 19 months.
‘a large improve of R3000 over the previous 19 months’
This improve has positioned many who didn’t depend on the charges going up fairly a lot underneath sever debt stress. Particularly since their earnings has not gone up by as a lot throughout these 19 months.
And we all know bonds take years and years to repay with many being financed over 25 years and even 30 years.
