These are amazingly different, exciting and challenging times were in. Covid 19 has had a huge impact on our lives and will continue to do so for many years.
On a business front, we have seen Corona or Covid have so many different effects on our local and global economy. We have had booms and record breaking highs on the JSE, Nasdaq and other international bourses. And we have had old and reputable companies closing their doors after decades of trading profitably.
In a nutshell depending on what market you are in Covid has affected you in either a very positive or in a very negative way.
Property prices have seen, and continue to see a varied change in values. Some areas in South Africa have seen prices surge. As a result of people staying at home and learning to work productively through remote channels like Zoom, certain areas like our garden route on the east coast of South Africa have seen an upsurgence of property prices with people realizing they can move to the coastal towns where life is more chilled and less chaotic than the cities, and still be able to work profitably.
Unfortunately in a lot of our major cities property prices have tailed off considerably. This can mainly be attributed to people and businesses suffering due to covid and as a result needing to unencumber themselves from the largest and often most expensive asset they possess. Banks as usual have marketed themselves as being sympathetic to peoples plight who cannot pay their property bonds, but behind the scenes have been instructing their attorneys to claim and sue for any arrears monies owing on peoples bonds, be it commercial of residential properties.
At First advance we pride ourselves in offering short and medium term loans using an unbonded property as collateral. We have a swift and efficient approval process and can pay you out on a loan in one week!
Do you remember the good old days when your bank manager knew you and your business intimately? And literally with a phone call you could activate a loan for your business or for your person. Sadly banks do not have that ability anymore and getting a loan is always a long winded and extremely tedious process that takes between 3 to 6 months. And that’s if you are lucky to be approved. At First Advance we still give you the old school approach of hearing your story, understanding your situation and offering a loan based on the risk we perceive. Our approval process uses a very reactive and concise methodology and this allows us to offer you relief quickly.
So in these Covid times before you sell your property or house, please look at your situation carefully. Ask yourself the question……..Is it the right time to sell my house?
If the answer is no or possibly not, please phone us for a chat to see how much money we can give you and what it will cost you. You might well find that loaning money from us is a more financially advantageous option that selling your property or house in a Covid depressed Property environment.
Call us now on 082 445 3003.
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