Cut your monthly costs. Consolidate your accounts and debt into an Integer home loan. It's easy, because it's a home loan and a current account, all in one.
What is equity and how will it benefit me?
Equity is the difference between a property's market value less the outstanding bond amount.
|
| For example
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You purchased your property and bonded it for R600 000. Since then you have paid in and decreased the loan amount to approximately R500 000, whilst the market value has increased to R1 000 000.
This means you have equity of R500 000 (R1m - R500 000) in your property. This equity could be used to consolidate your accounts. Here's how:
|
BEFORE
CONSOLIDATION |
|
|
Loan amount
|
Interest rate
|
Term in months
|
Instalment
|
| Home loan
|
R500 000
|
12%
|
240
|
R5 504.43
|
| Credit card*
|
R35 000
|
22%
|
12
|
R3 275.80
|
| Motor finance
|
R160 000
|
16%
|
54
|
R4 175.42
|
| Overdraft
|
R50 000
|
22%
|
-
|
R904.11
|
| Personal loan
|
R55 000
|
23%
|
60
|
R1 550.48
|
|
| Total
|
R800 000
|
-
|
-
|
R15 411.24
|
|
AFTER
CONSOLIDATION |
| |
Loan amount |
Interest rate |
Term in months |
Instalment |
| Integer Home loan
| R800 000 |
12% |
240 |
R8 808.69
|
| You can SAVE R6 602.55 per month! |
Save even more with Integer's Salary Sweep
We encourage you to sweep all your monthly earnings into your home loan every month, and spend it as you need it. This reduces the balance and the interest you pay. Click here for more about the Salary Sweep.
Remember - it's all about weathering the current financial storm! We have many ways to help you do just that. Speak to an Integer Consultant today on 0861 4 66 66 4.
*The credit card instalment is based on a revolving amount and is calculated at 10% of the outstanding amount. Note: The above is an illustrative example. It is indicative only and uses approximate amounts.
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Integer is a Registered Credit Provider (NCRCP1625)
and an Authorised Financial Services Provider.