Rising interest rates, high inflation and cost of living have resulted in many homeowners defaulting on their monthly bond repayments, with some being forced to sell their properties to reduce expenses.

Data from Absa’s home loan division shows the extent to which consumers are experiencing the negative effects of the cost-of-living crisis. Home loan repayments have increased as much as 40% since the start of the rate hike cycle in 2022, said Mbuyiselo Khumalo, head of collections for home loans at Absa...

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