Large Lounge
Kitchen
Bathroom and Toilet
Entertainment area
Large Grounds
Corner plot
WE SELL HOUSES, APARTMENTS,VACANT ERFS, FLATS, SEMI-DETACHED HOUSES,DUPLEXES, AND NEW DEVELOPMENTS
Welcome to Lake Properties PROPERTY CAPE TOWN Lake Properties is a young and dynamic real estate ag
- Lake Properties
- Cape Town, Western Cape, South Africa
- Lake Properties, Cape Town is a young and dynamic real estate agency located in Wynberg, Cape Town. We offer efficient and reliable service in the buying and selling of residential and commercial properties and vacant land in the Southern Suburbs including Bergvliet,Athlone,Claremont,Constantia,Diepriver,Heathfield,Kenilworth,Kenwyn,Kreupelbosch, Meadowridge,Mowbray,Newlands,Obervatory,Pinelands,Plumstead,Rondebosch, Rosebank, Tokia,Rondebosch East, Penlyn Estate, Lansdowne, Wynberg, Grassy Park, Steenberg, Retreat and surrounding areas . We also manage rental properties and secure suitably qualified tenants for property owners. Another growing extension to our portfolio of services is to find qualified buyers for business owners who want to sell businesses especially cafes, supermarkets and service stations. At Lake Properties we value our relationships with clients and aim to provide excellent service with integrity and professionalism, always acting in the best interest of both buyer and seller. Our rates are competitive without compromising quality and service. For our clients we do valuations at no charge
Showing posts with label # interest rates #buyers #sellers #banks #houseforsaleincapetown. Show all posts
Showing posts with label # interest rates #buyers #sellers #banks #houseforsaleincapetown. Show all posts
HOT PROPERTY FOR SALE IN SILVERTOWN
Lake Properties, Cape Town is a young and dynamic real estate agency located in Wynberg, Cape Town.
We offer efficient and reliable service in the buying and selling of residential and commercial properties and vacant land in the Southern Suburbs including
Bergvliet,Athlone,Claremont,Constantia,Diepriver,Heathfield,Kenilworth,Kenwyn,Kreupelbosch,
Meadowridge,Mowbray,Newlands,Obervatory,Pinelands,Plumstead,Rondebosch, Rosebank,
Tokia,Rondebosch East, Penlyn Estate, Lansdowne, Wynberg, Grassy Park, Steenberg, Retreat and surrounding areas .
We also manage rental properties and secure suitably qualified tenants for property owners. Another growing extension to our portfolio of services is to find qualified buyers for business owners who want to sell businesses especially cafes, supermarkets and service stations.
At Lake Properties we value our relationships with clients and aim to provide excellent service with integrity and professionalism, always acting in the best interest of both buyer and seller. Our rates are competitive without compromising quality and service. For our clients we do valuations at no charge
How does the National Credit Act(NCA) effect me and how does it protect me as a consumer
TheNational Credit Act (NCA) in South Africa is designed to regulate the credit industry and protect consumers from unfair lending practices. Here's how it affects and protects you as a consumer:
How the NCA Affects You
1. Access to Credit:
Credit providers are required to assess your affordability before granting credit. This ensures that you don't take on debt you cannot repay.
You must provide accurate financial information for credit assessments.
2. Credit Agreements:
The NCA regulates the terms and conditions of credit agreements, ensuring they are fair and transparent.
It mandates that credit providers explain agreements in a language you understand.
3. Credit Bureau Records:
The NCA allows you to access your credit report for free once a year, helping you monitor your financial health.
Credit providers must report your credit history accurately to credit bureaus.
4. Debt Review:
If you are over-indebted, the NCA provides for a process called debt review to help you restructure your debt repayments in a manageable way.
How the NCA Protects You
1. Protection Against Reckless Lending:
Credit providers cannot offer you credit without conducting a proper affordability assessment.
If found guilty of reckless lending, the provider may be required to cancel or restructure the debt.
2. Transparency and Disclosure:
Credit providers must disclose all costs of credit upfront, including interest rates, fees, and total repayment amounts.
This helps you make informed decisions.
3. Unfair Practices:
The NCA prohibits credit providers from charging excessive interest rates or fees.
It also prevents unfair practices like automatic signing of credit agreements or hiding terms in fine print.
4. Dispute Resolution:
The NCA provides mechanisms for resolving disputes through the National Credit Regulator (NCR) or the National Consumer Tribunal (NCT).
You can lodge complaints if you feel a credit provider has acted unlawfully or unfairly.
5. Protection from Harassment:
Creditors must follow legal processes when collecting debt and cannot harass or intimidate you.
6. Access to Redress:
If your rights are violated, you can seek redress through the NCR or take legal action.
By promoting fair credit practices and empowering consumers with rights and information, the NCA aims to create a balanced credit market in South Africa.
Lake Properties, Cape Town is a young and dynamic real estate agency located in Wynberg, Cape Town.
We offer efficient and reliable service in the buying and selling of residential and commercial properties and vacant land in the Southern Suburbs including
Bergvliet,Athlone,Claremont,Constantia,Diepriver,Heathfield,Kenilworth,Kenwyn,Kreupelbosch,
Meadowridge,Mowbray,Newlands,Obervatory,Pinelands,Plumstead,Rondebosch, Rosebank,
Tokia,Rondebosch East, Penlyn Estate, Lansdowne, Wynberg, Grassy Park, Steenberg, Retreat and surrounding areas .
We also manage rental properties and secure suitably qualified tenants for property owners. Another growing extension to our portfolio of services is to find qualified buyers for business owners who want to sell businesses especially cafes, supermarkets and service stations.
At Lake Properties we value our relationships with clients and aim to provide excellent service with integrity and professionalism, always acting in the best interest of both buyer and seller. Our rates are competitive without compromising quality and service. For our clients we do valuations at no charge
If I have an individual house with bank loan. Can I go for 2nd house with the extension of loan on first home?
1. Yes, it is possible to purchase a second house by extending or refinancing the loan on your first home in South Africa, provided you meet certain conditions. Here’s how you can approach this:
1. Equity on Your First Home
Access Bond/Refinancing: If your first home has increased in value and you’ve paid off a significant portion of the loan, you can access the equity. This can provide funds for a deposit or even full payment for the second house.
The bank will assess your home's market value and allow you to borrow against the available equity.
2. Affordability Assessment
South African banks follow strict affordability guidelines to ensure borrowers can manage their loans. They will evaluate:
Your combined monthly income.
Current debt obligations, including the first loan.
Credit score and history.
If your affordability allows, you can qualify for a second loan without needing to refinance the first.
3. Second Bond vs. Combined Bond
Second Bond: You can apply for a separate home loan for the second property.
Combined Loan (Refinancing): You can consolidate the first and second loan into one, depending on the lender's policies.
4. Investment Properties
If the second house is for investment (e.g., renting it out), banks might consider the potential rental income as part of your affordability calculation.
Be prepared to pay a higher deposit and possibly higher interest rates for investment properties.
5. Legal and Tax Considerations
Transfer Duties: Buying a second home will likely involve paying transfer duties unless exemptions apply.
Capital Gains Tax (CGT): If you sell the second property later, CGT may apply, depending on how the property is used.
Steps to Proceed
1. Consult your current bank or lender about your refinancing options.
2. Obtain a valuation of your first property to determine its equity.
3. Get pre-approved for a second home loan to understand your borrowing capacity.
4. Seek advice from a financial advisor to ensure this decision aligns with your long-term financial goals.
Would you like help calculating your affordability or guidance on banks offering competitive loans?
Lake Properties, Cape Town is a young and dynamic real estate agency located in Wynberg, Cape Town.
We offer efficient and reliable service in the buying and selling of residential and commercial properties and vacant land in the Southern Suburbs including
Bergvliet,Athlone,Claremont,Constantia,Diepriver,Heathfield,Kenilworth,Kenwyn,Kreupelbosch,
Meadowridge,Mowbray,Newlands,Obervatory,Pinelands,Plumstead,Rondebosch, Rosebank,
Tokia,Rondebosch East, Penlyn Estate, Lansdowne, Wynberg, Grassy Park, Steenberg, Retreat and surrounding areas .
We also manage rental properties and secure suitably qualified tenants for property owners. Another growing extension to our portfolio of services is to find qualified buyers for business owners who want to sell businesses especially cafes, supermarkets and service stations.
At Lake Properties we value our relationships with clients and aim to provide excellent service with integrity and professionalism, always acting in the best interest of both buyer and seller. Our rates are competitive without compromising quality and service. For our clients we do valuations at no charge
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