What is a building loan and do I qualify?

South Africa’s 2026 National Budget Speech, delivered by Finance Minister Enoch Godongwana, is about far more than tax tables and headline numbers. For property buyers and homeowners, the budget sets the financial backdrop against which decisions about buying, selling, refinancing, or simply holding onto a home are made.

Even small monthly top-ups can shave years off a home loan and save hundreds of thousands of rands in interest. The earlier extra repayments are made, the greater the benefit — especially while interest rates remain elevated.South Africa’s Reserve Bank (SARB) has opted to keep the repo rate unchanged at 6.75% following its first Monetary Policy Committee (MPC) meeting of 2026. While many homeowners and buyers were hoping for the start of a more aggressive rate-cutting cycle, the decision reflects a cautious, wait-and-see approach in a complex global environment.

Homeowners and prospective home buyers often consider fixing the interest rate on their home loans, and with inflation concerns, rising living costs, and an upcoming repo rate announcement, this has once again become a key talking point.