Did you know that it is possible to shave off years from your home loan repayments? Some methods of achieving this require access to extra cash, while others rely on having the discipline to draw up a strict budget — and stick to it.
Lee Mhlongo, FNB Home Finance CEO, says the past few years have seen a surge in the number of customers who no longer want to wait the standard term to pay a mortgage.
“There has been an increase in customers paying off their home loans in just over 10 years on average. Even at the height of the credit crunch from 2009 to 2011, customers were still paying off their bonds within 12 years.”