Do I need to pay my home loan with a debit order?

Author

MyProperty

The safest and easiest way to pay your home loan is via debit order.

Most banks will most likely include the signing of a debit order as a condition of the home loan as the bank will then be sure that they will be paid each month.

The bank will usually allow you to choose the day of the month that you want the payments to be deducted from your account.

The added benefit of a debit order is that if the base interest rate changes, your monthly repayment is automatically adjusted.

Home Loans Property News

Market & Opinion

Top Tips for Ensuring a Hassle-Free Home Loan Application Process in South Africa

02 Apr 2024

Are you planning on buying a home? Securing a home loan is often the first step in making your dream home a reality. However, the process can seem daunting. To help you navigate through it smoothly, we've outlined the key steps involved in applying for a home loan.

Market & Opinion

Streamline your home buying experience

18 Mar 2024

Despite what many will have you believe, buying a home shouldn't feel like a daunting task despite the complexities and legalities involved. With careful preparation and consideration of the journey ahead, you can streamline the property-buying experience.

Market & Opinion

Navigating Bond Pre-Approval and Financing Options: Months 3-4 of Your 12 Month Guide to Homeownership

13 Mar 2024

Congratulations on reaching months 3-4 of your journey from renting to homeownership! As you move forward, it's time to dive into the critical stages of obtaining pre-approval for a home loan and researching various mortgage options.

Market & Opinion

Sell fast, sell smart - a guide to streamlining your home sale

29 Feb 2024

Selling your home can be a daunting task, but with the right approach and a few smart strategies, you can increase your chances of a quick and successful sale.