Thinking of buying a property? Now is the perfect time - Ooba CEO

Is South Africa's property bubble about to burst? Is it a good time to enter the market? These are the kinds of questions prospective buyers are grappling with.

Rhys Dyer, chief executive officer of bond originator Ooba, says current conditions make this the perfect time to buy a property, especially for first-timers.

Property price growth - how property prices have grown over the last couple of years - has definitely slowed.

Rhys Dyer, Chief executive officer - Ooba

Dyer says it's likely that your salary has been increasing at a higher level than the price of property.

He adds that banks are very aggressive in their lending at the moment and approval rates for 100% loans are high.

Dyer advises making use of a bond originator to get the best deal.

An originator helps a would-be buyer complete the necessary paper work, submits the application to the banks and then sources the best quote.

We have about nine banks on our panel at the moment, including all the major banks.

Rhys Dyer, Chief executive officer - Ooba

Dyer dispels what he says is a common misconception about this free service, with people thinking there must be a catch.

We earn a commission from the bank... so we don't charge the consumer anything for the service.

Rhys Dyer, Chief executive officer - Ooba

Where we get banks to compete for a customer's loan more often the banks will sharpen their pencil than if you just walk into a branch.

Rhys Dyer, Chief executive officer - Ooba

For more valuable tips on buying a home, take a listen:


Recommended

by NEWSROOM AI
Read More
No-one is responsible for your happiness but you - Kelly Khumalo

No-one is responsible for your happiness but you - Kelly Khumalo

The award-winner singer talks about her family, dealing with Robbie Malinga's death, and embracing life.

Zeitz MoCAA to present special programme for Africa Day

Zeitz MoCAA to present special programme for Africa Day

The museum's Emma King shares details of its vision and special plans for 25 May.

What you should know about life insurance

What you should know about life insurance

Certified financial planner Paul Roelofse unpacks this tricky financial product and how to work out how much cover you need.

It's a tough world out there - practise some self-love

It's a tough world out there - practise some self-love

Clinical psychologist Khosi Jiyane on the importance of loving yourself and how to start the process.

A tale of endurance: Extreme swimmer ready for 100th Robben Island crossing

A tale of endurance: Extreme swimmer ready for 100th Robben Island crossing

Ryan Stramrood shares his journey from couch potato to extreme open water swimmer.

Anxious about the state of the planet? Get involved in Eden Festival of Action

Anxious about the state of the planet? Get involved in Eden Festival of Action

Lead SA hero, Greenpop founder Misha Teasdale is on a mission to re-plant the Knysna area with indigenous trees.

Popular articles
Heavy rains heading for Cape Town late Sunday night

Heavy rains heading for Cape Town late Sunday night

SA Weather Services has forecast a cold front landing in the Western Cape late on Sunday night into Monday morning.

Brutal murder of Cape surfer leaves coastal community in shock

Brutal murder of Cape surfer leaves coastal community in shock

A 38-year-old Scarborough man was hijacked, forced into the boot of his car and later set it alight.

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.