Securing a home loan in South Africa is becoming increasingly difficult. The banks are tightening up their lending rules, which means to millions are unable to qualify for the finance they need to purchase a new home.
If you are currently listed on ITC, or with any of the other credit bureaus, we are going to find it very difficult to secure a home loan at the moment.
The best thing to take if you’re wondering how to get a home loan if your on ITC would be to take the steps needed to remove your bad credit listing.
A company called Lucid has been helping many South Africans to remove their bad listings and to improve their credit scores.
Alternatively you could look at rent to buy properties.
These properties are rented out by the owners, with an option for you as the buyer to purchase the house at a latter stage once the ITC credit listing has been removed and no longer reflects on your profile.
For more information about rent-to-buy house visit RentToBuyGuide.co.za