Homeowners tap savings to keep the wolf from door, says FNB
Owners are now drawing down on prepayments to meet daily needs or fund big-ticket items such as solar installations
23 October 2023 - 05:00
Homeowners who accumulated excess cash and paid down their existing mortgage debt during the Covid-19 lockdown, a period when interest rates were slashed to historical lows, are now drawing the prepayments to keep bread on the table and install solar, FNB says.
The lender said on Friday that prepayments and extra payments towards mortgages have slowed "considerably"...
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