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.

Read More
6 techniques you can use to get funding to start (or grow) a business

6 techniques you can use to get funding to start (or grow) a business

Small business guru Pavlo Phitidis discusses the techniques, how they work and how to get them right.

Money market accounts (and Exchange Traded Funds) FAQs answered

Money market accounts (and Exchange Traded Funds) FAQs answered

Personal finance guru Warren Ingram explains what money market accounts are and the difference between various ETFs.

2016 - Good riddance to bad rubbish

2016 - Good riddance to bad rubbish

Bruce Whitfield interviews public speaking superstar Vusi Thembekwayo, who says “Dear 2016: we are glad you are over”.

Meet (outgoing) Old Mutual EM CEO Ralph Mupita (soon to be MTN’s CFO)

Meet (outgoing) Old Mutual EM CEO Ralph Mupita (soon to be MTN’s CFO)

The Money Show’s Bruce Whitfield interviews Mupita about his life and his exciting (and challenging!) new job at MTN.

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.