Setting foot in the property market is a daunting venture for many first-time homebuyers, a venture many of us can only dream about. However, with the low prime interest rate (7,0%) and decline in property price growth (2.1% growth in 2020, down from 3.5% in 2019), it means that buying property could become a reality for consumers who could not afford it in the past. Imagine, owning your own property at basically the same monthly cost as your current rental.
You found the perfect home…. now what?
Buying a new house is a big financial investment with loads of admin and paperwork involved. Not to mention finding the right home. Iemas Financial Services recently partnered with MortgageMarket.co.za, South Africa’s first independent online marketplace for home loans, to offer a convenient bond origination service to their members.
In the past, you had to visit a bank or make numerous phone calls to find a bond. Fortunately, times have changed. According to Tim Akinnusi, CEO and Founder of MortgageMarket: “Our online platform is a fully digital marketplace for home loans that helps you compare home loans from six different banks and allows you to apply online for the bond of your choice”. No paperwork, no phone calls and no bank visits. “So, imagine seeing six quotes on a personalised dashboard to pick and choose from on your device, followed by a seamless application process,” adds Akinnusi.
Iemas, together with MortgageMarket.co.za, makes settling on a home loan easy by comparing interest rates offered by each bank all in one place. All you have to do is choose one that is best for you.
Searching for the perfect home can seem like looking for a needle in a haystack. So when you eventually find it, you just want to get the admin out of the way and move in. However, Nomtha Lusu, Head: Corporate Marketing & Communication at Iemas Financial Services advise “be careful not to accept the first home loan offer that comes your way as you could get a better deal somewhere else”.
Lusu also notes that the property needs of consumers are changing, with an increasing demand for affordable property that offers bigger space to work and live in. “At Iemas, we are aware of these trends and always strive to find new and innovative solutions to assist homebuyers with affordable and easy solutions to finance their dream homes,” concludes Lusu.