| Bond Calculators |
| Monthly
Bond Repayments |
| This bond calculator enables users to calculate the
monthly bond repayment that is required based on a user defined bond amount
(property purchase price less deposit amount), annual interest rate percentage
and a bond period in years. The calculated results also include the total
bond repayments over the entire bond period, the total interest that is
incurred over the entire bond period as well as the monthly bond repayments
based on a 15 and 30 year bond period and annual interest rates that are
1% more and 1% less than the specified bond interest rate. |
| Bond
Affordability |
| This bond calculator enables users to calculate an
estimated bond qualification amount based on what they can afford. Bond
affordability is determined by the estimated monthly net disposable income
(as required by the National Credit Act) which is defined by specifying
a monthly combined gross remuneration amount and income from other sources
less total salary deductions, total monthly expenses and monthly finance
costs. Note that if the net disposable income that is calculated is more
than 30% of the total gross remuneration, the bond qualification amount
is based on a 30% repayment to income ratio (as applied by most financial
institutions). The annual bond interest rate and bond period also affect
the calculation of the bond qualification amount and the calculator includes
an interest rate buffer percentage which is used to measure the sensitivity
of the bond affordability calculation to interest rate changes. |
| Minimum
Net Disposable Income |
| This bond calculator enables users to calculate the
minimum monthly net disposable income that is required in order to qualify
for a user defined bond amount. The calculation is based on the bond amount
(property purchase price less deposit amount), annual bond interest rate
and bond period that are specified by the user. A net disposable income
percentage can also be entered in order to calculate the required gross
monthly income amount. The minimum net disposable income that is calculated
is based on the required monthly bond repayment. |
| Increased
Instalment |
| This bond calculator enables users to calculate the
amount of interest that can be saved by increasing the monthly required
bond repayment by a user defined additional repayment amount. The calculation
is based on the bond amount (property purchase price less deposit amount),
annual bond interest rate, bond period and the additional payment amount.
An average annual inflation rate can also be specified in order to calculate
the present value of the interest saving. The calculated results include
the adjusted bond period in months and years, the total bond repayments
and interest over the original and adjusted bond periods and the interest
savings amount and present value. |
| Amortisation
Table |
| The bond amortisation table enables users to view
a comprehensive analysis of bond repayments, interest charges, capital
repayments and outstanding bond balances over the entire bond period.
The table is calculated based on the bond amount (property purchase price
less deposit amount), annual bond interest rate and bond period that is
specified by the user and includes the monthly bond repayments, interest
charges, capital repayments and outstanding bond balances. The percentage
capital that is outstanding after each monthly bond repayment is also
included in a separate column and indicates how the outstanding capital
amount is reduced over the bond period. |
| Transfer
& Bond Costs |
| This calculator enables users to calculate an accurate
estimate of the transfer & bond costs that will be incurred when buying
a property. The calculation is based on the property purchase price and
bond amount (property purchase price less deposit amount) which is specified
by the user and includes transfer duties, transfer fees, deed office levies,
bond registration fees and other transfer & bond related costs. Note
that the transfer & bond registration costs that are calculated should
be seen as estimates only - actual charges may therefore differ from these
estimates. |
| Bi-Weekly
Bond Repayments |
| This bond calculator enables users to calculate the
interest savings that result from making bi-weekly bond repayments instead
of monthly bond repayments. The calculation is based on the bond amount
(property purchase price less deposit amount), annual bond interest rate
and bond period that is specified by the user and indicates the total
bond repayments and total interest over the original and adjusted bond
periods as well as the total interest savings. For the purpose of the
calculation, it is assumed that the original required bond repayment amount
remains unchanged and that the additional bi-weekly bond repayment is
allocated against the outstanding capital balance of the bond. |
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