Words: Ashley Rigg
Published: 8th September 2009
South Africa: New 110% mortgage
It seems some banks have learned very little from the credit crunch. South African bank ABSA is offering low income earners mortgages at 110% loan to value.
The company says that low interest rates today and the prospect of further falls in the future make repayments more affordable to those on low incomes.
Although there are apparently stricter lending criteria and checks in place than in the past, it’s difficult not be have an overwhelming sense of déjà vu.
Full story on
Real Estate Web
Related Links