Banks will require building insurance on the property you’ve purchased. Sectional titles managed by a body corporate etc sometimes have this included in your levies. Freeholds you’ll need to acquire your own insurance. Don’t be afraid to ask your bank and compare quotes.
@charlprop_livingincenturion, not in all instances. My bank required one when I purchased my first entry level apartment...and the same bank didn't when I purchased my second a bit upmarket apartment. I asked the bond attorney why that was and was told it depend on the risk profile as determined by the bank.
Seems a bit biased in the selling price argument. Thinking that a 8.5% annual growth rate is achievable or sustainable in a high interest rate environment is crazy.
Useful info
Thank you very much, helps me as interested German to understand how to make me smart.... 👌👊🏅
this is perfect man thank you very much
Brilliant video, thanks man!
I've had my home loan application approved by one of the South African banks. Is it compulsory to take out any insurance on my home loan?
Yes
Banks will require building insurance on the property you’ve purchased. Sectional titles managed by a body corporate etc sometimes have this included in your levies. Freeholds you’ll need to acquire your own insurance. Don’t be afraid to ask your bank and compare quotes.
@@taylacalcott7839I'm actually buying an apartment in a complex. Does that qualify as Sectional Title?
You must have life insurance ceded to the bank.
@charlprop_livingincenturion, not in all instances. My bank required one when I purchased my first entry level apartment...and the same bank didn't when I purchased my second a bit upmarket apartment. I asked the bond attorney why that was and was told it depend on the risk profile as determined by the bank.
Should show median not average prices tbh...
Seems a bit biased in the selling price argument. Thinking that a 8.5% annual growth rate is achievable or sustainable in a high interest rate environment is crazy.