Mortgage originator, Bond Group, is offering its clients a one percent interest rate cut on approved loans with one of South Africa’s major banks for the first 12 months of their mortgage loan. Thereafter the bank’s approved mortgage rate will apply.
The “Further 1% Reduction” campaign, launched by the originator, is designed to ease the financial burden on the homeowner, according to a media release by the group.
Bond Group will pay the client the 1% saving on the first 12 home loan repayments directly into a nominated banking account.
Nathan Schmidt, Managing Director of Bond Group, says, “The cycle of increasing interest rates will not continue indefinitely. This campaign allows homebuyers some financial breathing space in their home loan monthly repayments for a period of 12 months. The hope is that, following this period, the client’s income will have improved and the interest rates have begun their downward cycle, thus enabling the client to continue to enjoy the financial benefits of this offering.”