Property & Email Marketing: Login or Register Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
IPIN Left IPIN Middle IPIN Right
Header Corner
Find Property in :

E.g. "Marbella" or "Manchester". Looking for more search options?

 

Secondary lenders 'vital' for South African property market

Date : (News Section: South Africa)

Share
Secondary lenders 'vital' for South African property market
Secondary lenders will play an increasingly important role in the South African commercial property market, is has been suggested.

Chief executive officer of Paragon Lending Solutions Gary Palmer told All Africa that this area of the financial services industry is vital for commercial property investors who need to raise finance against assets.

He explained many of the country's biggest banks prefer customers to take out unsecured loans, which typically have higher rates of interest, so this means they are not lending as much to clients who want asset-backed finance.

As a result, secondary, secured lenders need to step in and provide the cash flow for these customers.

"Secured lenders are able to process applications quicker and provide asset-backed clients with financial solutions and a formal bank guarantee within seven days," Mr Palmer asserted.

According to data published by the South African Reserve Bank, the value of commercial mortgages issued by the country's banks in May was 5.7 per cent higher than in the same month in 2011. However, term loan values climbed by 34.6 per cent during this time, while overdraft and credit card lending was up by 17.1 per cent and 12.5 per cent respectively.
 
Share

Article by +Steve Binge on behalf of Propertyshowrooms.com

Read More

  1. 13 February 2014 - South African House Prices Set to Stabilise in 2014
  2. 18 January 2014 - South African Property Grows in 2013
  3. 20 December 2013 - SA house price growth could be 'losing momentum'
  4. 23 October 2013 - Consolidation is the focus of South African property market
  5. 09 October 2013 - South Africa embraces standard measurement procedures






Let us search for you Let Us find Property in South Africa for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in South Africa.

SubscribeGet Email Updates!

   

* We value your privacy and will never share your email address with anyone else.

USA Income Properties Fully Managed From $22,000

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: South Africa
Channel: All

More RSS FeedsGo

Media/Press SectionProperty News Search


   

News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo