The Bank Act needs to be changed

Why in SA are people required to take a home loan bond for 20 years instead making  the term to depends on affordability. A bank approves you for car finance of R 700,000 for 5 years but you don’t qualify for a home loan of R400,000.This is one of the way to keep the African people from owning land, The Bank Act needs to be changed.

One thought on “The Bank Act needs to be changed

  1. They do this deliberately to take away value from us as the low earning citizens firstly; we usually have to choose between a property and a car cant buy both in most cases. The public transport is so appauling that you are almost forced to purchase a car other than the property; its much easier to get a car as you have said other than a house. The value of a car decreases over time whilst the value of the house increases, so ideally should choose a house but its made to appear as though the car is the best deal.
    I support this motion we as black people are being manipulated by the policies and legislatons in play in our country, they still opress us and we are being told we are free yet we are in shackles. Its about time we fight for real freedom, and I feel EFF is on the right path. However, we have been so betrayed by our black leaders that we just lost all trust in our own leaders.

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