Budget Reaction- FNB applauds budget

First National Bank (FNB) has applauded the announcement made today by Finance Minister Trevor Manuel in his national budget that houses less than R500 000 will no longer attract transfer duty.

According to Ed Grondel, CEO of FNB Home Loans, “This move will help to further encourage home ownership in South Africa. This positively affects prospective first time homeowners, where a saving of R25 000 would be enjoyed on a home of R500 000.”

With the steady increase in property prices over the past 24 months, this is a welcome relief to individuals wanting to enter the market.
Loading comments
More news articles
news
Guidelines to securing a home loan
29 May 2018
Many young South Africans are working hard to achieve their dream of purchasing their first home. However, the process can be challenging due to the daunting application process, which can take up to 2 years and is often enough to discourage prospective buyers.
read more
news
Things you should consider before upgrading to a new home
23 Apr 2018
The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
read more
Get pre-qualified
Make offers with confidence knowing what you can afford. Then shop for the best home loan
Bond Calculator
Calculate the estimated repayments on a home loan and savings with extra payments