Take a property break with Cicile: Bond Repayment Factors

The bond repayment factor is an expression of the monthly repayment for a loan amount of R1000 at the specified interest rate and loan term.

For example, if the loan is R100 000,00 at an interest rate of 14% per year over 20 years, the monthly repayment would be:

R100 000,00 divided by 1 000, multiplied by 12.44 (being the bank repayment factor - see table at the bottom) = R1 244,00 per month.

A monthly instalment on a R500 000,00 property will amount to R6 220,00, being 30% on a gross income of R22 000,00.

With these guidelines you will be able to determine -

Your monthly bond repayment being 30% of your gross income.
The bond amount you qualify for with your current salary.

Although it is a good guideline to work on a 30% bond repayment of your gross income, other monthly payments will all be influential when the bank considers to grant you a bond.

Bond Repayment Factor Table:

At 09.00 %, over 15 years = 10.14; over 20 years = 09.00; over 25 years = 8.39; over 30 years = 8.05
At 09.25 %, over 15 years = 10.29; over 20 years = 9.16; over 25 years = 8.56; over 30 years = 8.23
At 09.50 %, over 15 years = 10.44; over 20 years = 9.32; over 25 years = 8.74; over 30 years = 8.41
At 09.75 %, over 15 years = 10.59; over 20 years = 9.49; over 25 years = 8.91; over 30 years = 8.59

At 10.00 %, over 15 years = 10.75; over 20 years = 9.65; over 25 years = 9.09; over 30 years = 8.78

Holiday Resort - Seaview - PE - POA

Testimonials

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It’s been a year since my family and I moved into the house that we love and that you didn’t mind showing us more than once to make up our minds. You’ve really gone the extra mile to ensure that we are happy with our lifelong purchase. It was one of the first properties we saw and we fell in love with it, although the price didn’t fit my pocket at that stage.
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