Homeownership is on the rise in South Africa. Despite a weak economic outlook for the country, more people than ever are taking out home loans. Even in a down economic environment, people still appreciate the benefits of homeownership.
According to the National Credit Regulator (NCR), loans are up based on information in the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM). That data comes directly from registered credit providers and credit bureaus. Home loans are up 13.5% quarter over quarter as South Africa continues to see a credit expansion.
Not everyone will qualify for a loan because of bad credit history. It’s possible that some people may have missed payments on accounts or run into other difficulties. Fortunately, this misfortune won’t prevent South Africans from receiving the funds they need to purchase a home.
There Are Many Great Reasons to Get a Loan
Many South Africans are looking for debt consolidation loans. It’s understandable why because these loans help use their proceeds to pay off old debts.
If you’re employed, there’s no better way to build for the future than by investing in a home. The equity built will allow you to provide a nest egg for your family, and you’ll have a roof over your head.
New home loans may help some people weather the current financial storms that are hurting the country’s economy. People are earning less but borrowing more, and that’s why some are hoping to unlock any potential equity to handle refinancing or cash emergencies.
Find the Best Lenders for Your Needs
When consumers need a loan in a hurry, they’re able to come through with the cash. When you’re feeling the pinch, there’s no reason to idle. All you have to do is meet essential criteria and complete an online application.
If you need small loans with quick turnaround time, we can help. We know there are times when you need cash quickly, and you can pay it back in a few months. In those cases, a personal loan is an answer.
What You Need to Get Approved
The requirements for getting a loan are straightforward. Please consider all the options to determine if you’re eligible. If you are, add your application, and we’ll find a perfect match.
Are you a South African citizen or permanent resident of the country?
Are you at least 18 years of age or older?
Is your current bank account at least three months old or older?
Do you have a working email address and a contact phone number?
If you said “yes” to these questions, you’re in luck. You can find a lender today. Even if you’re credit has dings, you should still be able to get the loan you need to fix your cash crisis. Whether you’re looking for a home loan, or you need to get a personal loan for a quick fix to pressing needs for funds, our network of lenders can assist.
According to Money Matcher, it’s the ideal time for a loan because lenders are fighting to make offers. Now’s the time to lock in sorely needed money.