With retrenchments, pay cuts and other financial challenges brought about by Covid-19, it might be necessary for you to use your home loan to borrow money. Ordinarily, I would not recommend this especially if you want to borrow money to pay off debt but these are extraordinary times so the key word is survival. Going under debt review will result in you being unable to borrow money for at least 5 years so if you own a home, you might consider a further loan.
In this radio interview https://soundcloud.com/radiokanselweb/heart-2-heart-interview-with-phumelele-ndumo-02-september-2020, Ndumo explains how a further bond works, how to qualify for a further bond and most importantly how to apply for the further bond. If you need money against your home loan, you can now email ThuthukaSA Home Loans to assist you apply for a further loan
Remember to Join ThuthukaSA Property Group on Facebook http://facebook.com/groups/thuthukaSAproperty
Other topics addressed in this radio interview are;
- What is a re-advance loan & is it a good idea to apply for a re-advance loan?
- What is a refinance loan?
- How can I use my home loan to pay off debt? Is this a good idea?
- Can I use my home loan to pay school / varsity fees?
I know that you have now introduced ThuthukaSA Home loans. Why did you feel the need to and how will this be different from other home loans services?