The amount that people are paying to service their debt has risen to an all-time high of 80% of disposable income, according to figures recently released by the South African Reserve Bank. Ian Wason, MD of Bond Busters, attributes much of this to the lengthy introduction of the National Credit Act.
About 60% to 70% of the South African home finance market is now facilitated by originators, who have managed to secure interest rate concessions of 1% to 2,5% for their clients. They handle the shopping around for you, as well as the administration and insurance.