You Can Beat The Interest Rate Hike!

Reserve Bank governor Tito Mboweni took the spirit out of Christmas shopping for borrowers today when he raised the interest rates by another 0.50%. This takes the prime lending rate to 14.5%. Hiking the interest rates by 4.5% since June last year!

Silke Financial Services has the skill, expertise and wisdom to advise clients on investments and risk planning according to your particular financial situation.

View the MPC Statement Online: Statement of the Monetary Policy Committee Report

Although, interest rate hikes almost always creates a slow down in the South African property market, we prefer to maintain a positive perspective. Rate hikes places everyone with credit under more pressure, because it becomes tougher to service these debts. Some people will choose to complain about it, while others are able to use the situation to produce a favorable outcome. Today YOU can choose to use this situation to produce a favorable outcome.

If the Reserve Bank wants to hike rates, all you need to do is ask your bond consultant to find you a bank that will offer you a lower interest rate on your home loan. That’s how you can beat the rate hike! If you are not getting the best possible interest rate you qualify for – you are simply paying too much to your bank for your mortgage.

We have an association with highly-recommended, professional bond originators who will investigate a suitable solution for you – so give us a call to investigate the options available to you.

If you have any queries regarding the above commentary please contact us on 021 683 3380 or info@silke.co.za.