Economic research shows that the establishment of formal housing also naturally brings with it over time, better opportunities for commerce around those housing settlements, schools for children who grow up in those neighborhoods, infrastructure in terms of electricity and water, and so on. In other words, formal housing can act as an essential catalyst to aid development and growth. Proper housing aids the development of better communities where all people can feel that they truly belong to society. One institution making a difference in this regard is Housing Investment Partners (HIP).
Housing Investment Partners (HIP) was formed as a means of providing a housing finance solution for the lower to middle income South Africans. As a member of the Old Mutual Group, HIP (in association with the National Housing Finance Corporation) developed an alternative housing finance instrument, one that enables people like you to buy your ideal home today by taking into account your future earnings potential. Monthly repayments for this finance are linked to your salary and not to the volatility of the interest rate. This percentage will be fixed for the term of the agreement and will not be in excess of 30 % of your salary depending on the size of the home loan you apply for. The repayment will be collected monthly, in arrears, for the period of 20 years.
To qualify,you must be in full time employment, be employed by your current employer for two years or more,be a South African citizen, be aged between the ages of 21 to 40 years, be earning between R3,500 to R30,000 per month gross and be cleared by the credit bureau.
Housing Investment Partners (HIP) can be contacted on 0105947777.
