Property Feature/Steps To Take For Early Bond Cancellation

Loading player...
If you are selling your property before your home loan has been paid in full, you will need to apply to the bank for the early cancellation of your bond. In terms of the National Credit Act, banks are entitled to levy a penalty if you cancel your bond before the end of the agreed loan period. If you cancel your bond within a few years of buying your property, banks are permitted to levy a penalty on the outstanding bond amount.
13 Jul 2021 1PM English South Africa Business News · Investing

Other recent episodes

How South Africans Are Stretching Every Rand

South Africans are increasingly living two very different financial realities. New research from NielsenIQ reveals a growing consumer divide, with almost equal numbers reporting that they're either financially worse off or better off than a year ago. As inflation, food prices and household costs continue to bite, consumers are changing…
28 Oct 1PM 13 min

ECIC at 25: Reimagining South Africa's Export Future

As the Export Credit Insurance Corporation of South Africa (ECIC) marks 25 years of supporting exporters, newly appointed CEO Linda Seroka joins Kaya Biz to outline the institution's future vision. From supporting emerging exporters and SMMEs to exploring new trade opportunities in Asia and the Middle East, the discussion examines…
28 Oct 1PM 13 min

The Real Income Crunch: What September's Net Salary Data Reveals

South Africa's average take-home salary edged higher in September, but the latest PayInc Net Salary Index reveals a harsher reality beneath the headline figures. Independent economist Elize Kruger unpacks why rising fuel costs, inflation and weakening purchasing power continue to place pressure on households, what it means for consumer spending,…
28 Oct 12PM 12 min

Opportunities and Risks in the Global Commodity Rally

Oil, copper and agricultural commodities are rallying as geopolitical tensions, climate pressures and energy-transition demand reshape global markets. Kaya Biz speaks to Simon Lacoume of Coface about the opportunities for South Africa's mining sector and the risks posed by rising inflation and food prices
27 Oct 1PM 15 min

African Bank's Next Chapter: From Turnaround to Growth

African Bank has spent years transforming itself from a specialist unsecured lender into a diversified retail and commercial banking group. Kaya Biz speaks to Chairman Thabo Dloti about the bank's evolution, the lessons learned from its acquisition-led growth strategy, leadership stability, and whether African Bank is finally entering the value-creation…
27 Oct 12PM 23 min