Phakamisa Ndzamela – Squeeze On Financing For Affordable Housing

No comments yet – February, 06,  2013
The deteriorating creditworthiness and affordability among South Africans has affected the appetite for advance loans for affordable houses, according to Nedbank’s affordable-housing head Jeff Lawrence.

Among the worst affected were those earning between R3,501 and R15,000; they have been falling through the cracks when it comes to qualifying for mortgage finance.
To alleviate this problem, stakeholders need to come together to fully implement the government-initiated mortgage default insurance scheme and the finance-linked individual subsidy programme, which is meant to reduce the initial home loan amount to make the monthly instalments affordable, especially in the low-income market.
Mortgage default insurance is aimed at providing risk cover to commercial banks against clients defaulting on their mortgages.

The government hopes interventions such as these, which were announced by the National Housing Finance Corporation in late 2010, will encourage banks to increase lending for housing.

Read more:

Bookmark and Share


Leave a Reply

What is 18 + 8 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

  • About

    Rozenberg Quarterly aims to be a platform for academics, scientists, journalists, authors and artists, in order to offer background information and scholarly reflections that contribute to mutual understanding and dialogue in a seemingly divided world. By offering this platform, the Quarterly wants to be part of the public debate because we believe mutual understanding and the acceptance of diversity are vital conditions for universal progress. Read more...
  • Support

    Rozenberg Quarterly does not receive subsidies or grants of any kind, which is why your financial support in maintaining, expanding and keeping the site running is always welcome. You may donate any amount you wish and all donations go toward maintaining and expanding this website.

    10 euro donation:

    20 euro donation:

    Or donate any amount you like:

    ABN AMRO Bank
    Rozenberg Publishers
    IBAN NL65 ABNA 0566 4783 23
    reference: Rozenberg Quarterly

    If you have any questions or would like more information, please see our About page or contact us:
  • Like us on Facebook

  • Archives