Is the NCA Preventing You from Purchasing a Home?
The new NCA (National Credit Act) has forced many would be home buyers out of the house hunting market based on the fact that your loan to income ratio is too high. The new regulations of the act are valuable and definitely protect you the consumer, however at the same time it has prevented many buyers out of the market completely as they are not prepared to settle for a smaller or lower income area property!
With the average national debt to income ratio being higher than 72% of people's household incomes this surely is a protective measure to guard against uncontrolled and reckless spending habits!
With the average national debt to income ratio being higher than 72% of people's household incomes this surely is a protective measure to guard against uncontrolled and reckless spending habits!
What is the NCA (New Credit Act) all about?
There are some stringent new rules that credit providers must adhere to before providing you with credit. The act requires you the consumer to be more informed before making any irrational financial decisions.More information
The company offering you credit must inform you of all 'hidden' fee's you will be paying throughout the term of the loan. They must also inform you about the total additional money you should expect to be paying over and above the loan you are asking for.
NOTE: If you intend on buying a home be aware that the bond originators are not allowed to charge fees for their services.
The NCR - National Credit Regulator requires credit lenders to fall within the New Credit Act requirements for further credit extension too!
It is their responsibility to perform all the required credit and income checks prior to approving you for further credit. This implies that credit providers may no longer automatically extend your credit limit without your consent and a yet again another credit application.
This applies to all forms of credit and finance like bonds/mortgages, vehicle finance, home loans, retail credit, personal loans and even micro loans.
The company offering you credit must inform you of all 'hidden' fee's you will be paying throughout the term of the loan. They must also inform you about the total additional money you should expect to be paying over and above the loan you are asking for.
NOTE: If you intend on buying a home be aware that the bond originators are not allowed to charge fees for their services.
The NCR - National Credit Regulator requires credit lenders to fall within the New Credit Act requirements for further credit extension too!
It is their responsibility to perform all the required credit and income checks prior to approving you for further credit. This implies that credit providers may no longer automatically extend your credit limit without your consent and a yet again another credit application.
This applies to all forms of credit and finance like bonds/mortgages, vehicle finance, home loans, retail credit, personal loans and even micro loans.
What if you believe you have solid, consistent and well managed finances but are still negatively affected by the NCA?
This is a tricky question, and only you can answer this best. You need to go through your monthly expenses to ensure that you have enough monthly cash to be able to pay for that new place you would like to.
Buying a home using the training Bond-Free-Homes system will provide you is one sure way of purchasing your home.
Buying a home using the training Bond-Free-Homes system will provide you is one sure way of purchasing your home.
Let Me Show You How Easy It Is For You To Buy Your Home Without Using the Bank!
My powerful secrets have finally been revealed and I will show you
how to buy almost any house in any area in South Africa!
This is despite being blacklisted or having limited cash, or having ITC issues.
Yes, this is a pretty bold statement!
I have to back it up with something and I am going to show you how, but this means you will have to spend some time here. Therefore, if you really want to own a home using this powerful technique then you need to read further.
Read more about the Lease Purchase Training Course
how to buy almost any house in any area in South Africa!
This is despite being blacklisted or having limited cash, or having ITC issues.
Yes, this is a pretty bold statement!
I have to back it up with something and I am going to show you how, but this means you will have to spend some time here. Therefore, if you really want to own a home using this powerful technique then you need to read further.
Read more about the Lease Purchase Training Course
