Johannesburg - Fewer small business owners are applying for home loans, the lates FNB home loans quarterly report has found.
“In the height of the property boom in 2007, around 24 percent of new home loan applications were received from applicants who generate income from their own businesses,” FNB head of sales Ewald Kellerman said in a statement on Thursday.
“Such applications where 'self-employed' individuals are party to the proposed loan have proportionately halved to just over 12
percent of new applications submitted in recent years, indicating a significant change in the home loans environment.”
Kellerman said that even though the figures were based on applications submitted to FNB, they were “reflective of a larger trend in new home loan applications for small business owners”.