Need a home loan? Banks are requiring ever larger deposits

Banks want between 15% and 20%, on average.

Shaun Rademeyer, BetterLife Home Loans

The slowing economy has not as yet caused a decline in the percentage of home loans applications that banks approve.

Banks have, however, started to raise deposit requirements in recent months.

The Money Show’s Bruce Whitfield interviewed BetterLife Home Loans CEO Shaun Rademeyer.

Scroll down for quotes from the audio below.

Banks are managing risk with higher deposits.

Shaun Rademeyer, BetterLife Home Loans

It’s not just about your personal track record, but also about the area in which you’re buying.

Shaun Rademeyer, BetterLife Home Loans

A bigger deposit gets you a better interest rate.

Shaun Rademeyer, BetterLife Home Loans

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Best. News. Ever!  The price of cocoa is falling

Best. News. Ever! The price of cocoa is falling

Cocoa is the main ingredient in chocolate; the reason for living. Bruce Whitfield interviews Nomu Brands cofounder Paul Raphaely.

How to ensure you get paid

How to ensure you get paid

Finding customers is one thing; getting paid is another. Bruce Whitfield interviews small business guru Pavlo Phitidis.

Unmarried, but living together? Here’s how to arrange your finances…

Unmarried, but living together? Here’s how to arrange your finances…

Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram for his weekly personal finance feature.

Confused about collusion case vs banks? You’re not alone! An analyst explains…

Confused about collusion case vs banks? You’re not alone! An analyst explains…

Intellidex Financial Analyst Stuart Theobald explains what banks actually did wrong.

5 ways to get a bank loan approved

5 ways to get a bank loan approved

Take these 5 steps, says Personal Finance Consultant Samke Ngwenya, and you’ll have your bank’s approval in no time.

Need a loan? How credit worthy are you? This FREE new app will tell you…

Need a loan? How credit worthy are you? This FREE new app will tell you…

A new cellphone application helps people access their credit profiles and safely upload their full credit reports.

Popular articles
Govt explains why it’s not considering dredging of dams to increase storage

Govt explains why it’s not considering dredging of dams to increase storage

Is it viable to dredge the Cape’s dams – while levels are low – to increase their storage capacity?

Eek! Cape Town Mayor Patricia de Lille goes door-to-door to scold water-wasters

Eek! Cape Town Mayor Patricia de Lille goes door-to-door to scold water-wasters

Water wasters, beware! The Cape Town Mayor has had enough of you. And she’ll tell you in your face…

How forgiving your parents helps you heal from a painful childhood

How forgiving your parents helps you heal from a painful childhood

Have you held onto childhood pain? Are you harboring deep-seeded resentment towards your parents? You need this expert advice.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.