Welcome to Lake Properties PROPERTY CAPE TOWN Lake Properties is a young and dynamic real estate ag

My photo
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 rate. Show all posts
Showing posts with label #interest rate. Show all posts

What is the interest rate and how does it affect me


The interest rate on a payment-over-time plan, like a loan or financing, is the percentage of the amount borrowed that you pay to the lender as a fee for borrowing the money. It’s typically applied to each payment period, so it accumulates over time based on how much you still owe.

Here's how it impacts you:

1. Higher Total Cost: The higher the interest rate, the more you'll pay overall. Even if the monthly payments seem manageable, high-interest rates can mean paying significantly more by the end of the loan.


2. Monthly Payment Amounts: Interest rates also affect your monthly payments. For example, a higher interest rate will increase your monthly payment if you want to repay the loan within the same timeframe.


3. Impact on Principal Reduction: Early in a loan, most of your payment goes toward interest, so the principal (the amount you actually borrowed) decreases slowly. This means it takes longer to reduce the amount you owe, and you're paying for longer on a larger balance.


4. Fixed vs. Variable Rates: Some loans have fixed rates, meaning the interest rate stays the same, while others have variable rates that fluctuate. A variable rate loan can lead to lower payments at first, but the rate can increase, making payments higher later on.



Would you like to know more about calculating payments or comparing different rates?


How are the local schools, even if I don’t have children?

Lake Properties When buying a home, it’s wise to consider local school quality, even if you don’t have children or don’t plan on...

Lake Properties,CapeTown