20.5 C
Cape Town
Friday, December 8, 2023

FNB Home Loans

Published on

Paying off your home loan
Paying off your home loan before the end of the term is a major milestone but it does not mean that the bond is cancelled.
If you would like to be in possession of the title deeds of your home, the bond must be cancelled in the Deeds Office, and there is an attorney cost associated with the cancellation of the bond. You can keep the bond open once the debt has been paid up in full in order to run your homeowners insurance premium through the account – this is not necessary and in the long run costs you in monthly service fees. You can redirect your insurance premiums to your transactional account.
FNB Home Loans - Fixing your interest rate
More importantly you’ll need to decide whether or not you might still need access to funds from your home loan – you may want to access the funds available or do home renovations at some point.

Listen to our expert Home Loans advice here:

For expert advice on the house, chat to our FNB Home Loans Team of Experts.

Latest articles

Previous article
Next article

[LISTEN] Jan Braai’s Best Potjie Tips

As we head into a long weekend a lot of us will be around a fire. Some will choose to light up the coals...

[LISTEN] The Art of Artistic Swimming

If you have been watching the Olympics you may have missed some of the more unusual events. As entertaining as some of our favourite...

Smile’s Tip Jar – The Community Philharmonic Orchestra

The last two weeks have been quite heart wrenching as we heard from individuals who work in the hospitality and entertainment industry, who have...