Be­ware of 'too good' mort­gage of­fers

Business Day - Home Front - - HOMEFRONT -

NOT TRUE With many bond ap­pli­cants held back by the strict Na­tional Credit Act rul­ings, some will start look­ing for more eas­ily ac­cessed fi­nance. If they do this they must act with ex­treme care, says Lan­ice Stew­ard, MD of Anne Porter Knight Frank, the Cape Penin­sula es­tate agency. “Caveat emp­tor – buyer be­ware – has al­ways been a sound prin­ci­ple in any sale ne­go­ti­a­tion but it is never more rel­e­vant than when it ap­plies to the rais­ing of fi­nance to pur­chase.”

Sus­pi­cion should al­ways be aroused in the buyer’s mind if and when ex­cep­tion­ally good fi­nan­cial pack­ages be­come avail­able for the home buyer. The ques­tion should al­ways be asked, “How and why is this or­gan­i­sa­tion able to un­der­cut the long es­tab­lished banks and fi­nance houses, whose of­fer­ings tend to be very sim­i­lar?”

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.