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
Nowadays you don’t steal a million; you steal a billion! – Pravin Gordhan

Nowadays you don’t steal a million; you steal a billion! – Pravin Gordhan

The Money Show’s Bruce Whitfield interviews Wits School of Economics and Business Science Senior Lecturer Lumkile Mondi.

How retailers use tech (and why Foschini is partnering with start-ups)

How retailers use tech (and why Foschini is partnering with start-ups)

The Money Show’s Bruce Whitfield interviews The Foschini Group Chief Information Officer Brent Curry.

Ruda Landman (fearless former Carte Blanche anchor) opens up about money

Ruda Landman (fearless former Carte Blanche anchor) opens up about money

The Money Show’s Bruce Whitfield interviews Landman about her attitude to money (hopes and fears, successes and failures, etc.).

12 mantras that Shaun Tomson (one of the greatest surfers ever) lives by

12 mantras that Shaun Tomson (one of the greatest surfers ever) lives by

The Money Show’s Bruce Whitfield interviews Tomson about his inspirational new book “The Code: The Power of ‘I Will’”.

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
Ruda Landman (fearless former Carte Blanche anchor) opens up about money

Ruda Landman (fearless former Carte Blanche anchor) opens up about money

The Money Show’s Bruce Whitfield interviews Landman about her attitude to money (hopes and fears, successes and failures, etc.).

Steam rooms and saunas will be closed from Wednesday at Virgin Actives in CT

Steam rooms and saunas will be closed from Wednesday at Virgin Actives in CT

The gym will be imposing strict measures to save and use water wisely across the city.

Emergency doctor says Henri van Breda's injuries were superficial

Emergency doctor says Henri van Breda's injuries were superficial

The wounds sustained by axe murder Henri van Breda continue to be scrutinised in court as the State calls another medical expert.

How Beaufort-West survived its worst drought in history

How Beaufort-West survived its worst drought in history

In light of the current drought in Cape Town, Kieno Kammies finds out what measures were used in Beaufort-West.

'Red Tie Guy'  who captured the world's attention during an Obama speech dies

'Red Tie Guy' who captured the world's attention during an Obama speech dies

Stellenbosch University's Goldfields Residence confirmed the news of Mikhail Hendricks death in a social media post on Friday.

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.