FOHP NEWSLETTER

2021 Committee

We are sad to announce that Francine Bekker has stepped down from her role as Chairperson of the Friends of Harfield Parks. We will sorely miss Francine's hard work and passion as well as her coordination of our gardener Peter.

Until our next AGM, the following members will be serving in Acting roles: 

1. Tina Gough will be serving as Acting Chairperson

2. Ruth McNerney will be serving as Acting Secretary

3. Thomas King will be serving as Acting Treasurer

Hampstead Grass Restoration 

Members of the community doing some grass restoration in Hampstead Park! We'd love any contributions of composting or watering from anyone keen to get Hampstead looking good again. Please feel free to spread compost or lawn dressing within the marked-off area or water any patches of grass you see. 

POPI Compliance

In accordance with the new Protection of Personal Information (POPI) Act, we'd like to review our information policy. Specifically: 

• We collect personal information only for sharing what we do in Harfield's four parks (Surrey, Hampstead, Princes and Purley)

• We do not share your personal information with any other party

• If you would like us to remove you from the mailing list or change the contact details we have for you, please contact us at harfield.parks@gmail.com.

Warm regards,
The FOHP Committee

For more information and directions you can email us at harfield.parks@gmail,com. You can donate using the following details: Friends of Harfield Parks; Standard Bank, Claremont; Account number: 076293874

Or use the Snapscan below.

KEEP PERSONAL & HOME SECURITY LOCKED DOWN IN LEVEL 2


With summer on its way and the recent relaxation of lockdown restrictions, families will be getting out more to take advantage of the weather and this chance in level two to socialise more.

It is also Heritage month and South Africans are undoubtedly already planning their much-loved public holiday and National Braai Day on September 24.

Charnel Hattingh, Head of Marketing and Communications at Fidelity Services Group, reminds people that criminals do not play by rules. The relaxation of lockdown restrictions is merely something that provides more opportunity for them.

“Curfew has been extended to 11pm and the number of people at indoor and outdoor gatherings has also increased, following the President’s update on September 12. 

“This is welcome news and a boost for the economy, but we urge people to remain sensible and aware when attending events, visiting restaurants and pubs, travelling home late at night and entertaining at home,” she says.

Share these 7 tips from Fidelity with friends and family:

1. At restaurants/pubs/shopping centres: Keep your personal belongings out of sight in your handbag or other secure bag worn over your body. Never keep your cellphone in your pocket or flash cash around. Be aware of who is around you. 

2. In parks/exercising outdoors: Leave your valuables at home and if you have a cellphone keep it out of sight. Do not wear earphones when exercising. Be alert to who is around at all times. Do not cycle or jog in remote areas alone. 

3. At home: If it is a hot day and you open doors and windows, make sure the security gates remain locked with the keys removed. Activate outdoor beams and your electric fence if you are inside the house. Never open the gate for strangers and inform someone if you are expecting a delivery. 

4. Coming home after dark: Turn your radio down and take note of any cars or people in your street. Do not park up against your gate and then open it. Allow space to drive away if need be and once the gate is open wait in the car with the doors locked until the gate is closed again.

5. Going out: Always let someone in your family know where you are going, what time you should arrive there and when you expect to be home. It is a good idea to leave an alternative contact number too. If using e-hailing services, be 100% sure the ride is legitimate before getting in. 

6. Entertaining at home: Never leave the gate standing open while you wait for guests to arrive. They should also all preferably park inside the property.  Alternatively, hire a security guard to watch the cars if they are parked in the street. Activate outdoor beams in areas you are not using and keep remote panic buttons close at hand. 

7. Going away: If you will be out of town for a weekend or longer, inform your neighbour, security company and neighbourhood watch. Ensure your alarm is in working order well before you leave on your trip so that you can get any issues sorted out beforehand. Do not post your holiday or travel plans on social media or your location while you are away. 

“Finally, we urge all South Africans to continue adhering to Covid-19 protocols. We are happy to have more freedom in level two of the lockdown, but in order for us to get out of lockdown completely in the future we must all play our part to combat the pandemic,” Hattingh says.

7 REASONS WHY REPO RATE HOLDS STEADY

 


7 reasons why it matters whether the repo rate holds steady this week at 3.5% for the 7th consecutive time.

Record-low interest rates have gone a long way to stimulating the property market at a time when many expected it to spiral downwards, says Carl Coetzee, CEO of BetterBond. “If the Reserve Bank decides this week to hold the repo rate steady at 3.5% yet again, as economists predict, it will afford even more buyers an opportunity to invest in property. Increased buyer activity is good for the housing market, and good for the overall economy,” says Coetzee.

Here are seven reasons why holding the repo rate steady is good news:

1. First-home buyers will continue to have an opportunity to gain a foothold on the property ladder as low interest rates make property more accessible. 60% of BetterBond’s applications for the 12 months ending August 2021 were for first-home buyers. By approaching more than one bank, bond originators such as BetterBond are also able to negotiate a better rate concession as banks vie to offer the best deal. BetterBond’s average interest rate concession is minus 0.61%, which, at the current prime lending rate of 7%, brings the interest rate down to 6.39%. This means a monthly saving of just over R700 on a R2 million bond with a 20-year repayment period.

2. Improved affordability means that in many cases it has become cheaper to own rather than rent a property of the same value. BetterBond has seen a strong uptick in home loan registrations, with a 136% increase for 6 months to July 2021. It comes off a period last year when the market was inundated with applications because of the pent-up demand created by lockdown. For the same period there has been a triple digit percentage increase across all provinces, except Mpumalanga. While the September 2021 FNB Property Barometer suggests that demand is moderating, after a strong rebound at the end of last 2020 and early this year, BetterBond’s application volumes still point to strong buyer demand, fueled largely by the record-low interest rates. There was a 27% increase in bond applications for August, year-on-year.

3. House prices are likely to strengthen, or stabilise. They have already risen considerably, increasing by a cumulative 5.6% since the start of the year, according to FNB’s Property Barometer (September 2021). After more than a year of low interest rates, buyers across all price bands are making the most of the favourable lending environment. This increased demand for property has bolstered house prices countrywide. BetterBond’s average approved bond size has risen by 15.14% for the 12 months ending August 2021, and by just over 13% for first-home buyers. Buyers at the upper end of the market are also reaping the benefits of lower interest rates, with many opting to upgrade to larger homes while the repo rate is at 3.5%.

4. Consumers have reason to remain positive about property investment. The Absa House Price Index, released in June 2021, showed a fourth consecutive year of improved sentiment towards buying property, the highest since the Index was launched in 2015. While the unrest in some parts of the country will have an impact on sentiment in the next quarter, sustained low interest rates will still keep confidence levels high, and may in fact see a renewed interest in semigration.

5. The property market will remain dynamic, with houses spending an average of eight weeks on the market, according to FNB - a marked improvement on the long-term average of 13 weeks. FNB reports that the time houses are listed in the lower end of the market, where demand is strongest, is only about five weeks.

6. Homeowners can look forward to more savings on their monthly bond payments. The monthly saving on a R1 million bond, since the prime lending rate dropped from 10% to the current 7%, is almost R2 000. Over a 20-year period, the interest saving is just over R455 000.


7. Those who have the financial means and are able to continue their bond repayments at the higher prime interest rate, even though the repo rate has dropped, can look forward to paying off their home loan much sooner. The current monthly repayment on a R1 million bond, when the prime lending rate is 7%, is about R7 750. However, if one continues to repay the bond at the amount it was when the prime lending rate was 10% - an additional payment of almost R2 000 - it will be possible to shave almost seven years off the repayment period, and save just over R321 000 on interest.

Anne-Marie Bamber is Norgarb Properties dedicated Home Loans Consultant. She has over 15 years’ experience in assisting clients with their Home Loan needs and has placed many happy families in their dream homes.

Contact her today for no cost stress-free home-buying.
Anne-Marie Bamber
Home Loans consultant
Tel: +27 (0)21 851 3568 | Fax: +27 (0)21 441 1494 | Cell: +27 (0)82 071 1665
E-mail: anne-marie.bamber@betterlife.co.za









OCTOBER IN THE GARDEN

Flowers are blossoming everywhere, and the temperatures are steadily increasing. It feels like it's been a long, cold Winter and it's wonderful to have sun again! Thankfully our dams are full after a rainy Winter, and we're in good shape for Summer. It's a great time of year to get planting. 

Here's our plant list for this month:

Amaranth, Basil, Bush and Climbing beans, Beetroot, Butternut, Cabbage, Cauliflower, Carrot, Chard, Cape Gooseberry, Celery, Chives, Chilli, Cucumber, Eggplant, Kale, Kohlrabi, Ginger, Globe Artichoke, Leek, Leaf Mustard, Lettuce, Jerusalem artichokes, Onion, Parsnip, Parsley, Peas, Potato, Pumpkin, Radish, Rhubarb, Sweetcorn, Sweet pepper, Sweet potato, Turnip, Tomato, Watercress, Watermelon, Zucchini  

Happy growing!

FIDUCIARY RIGHTS: WHEN, WHY AND HOW?

For many people, drafting their Will is often a somewhat overwhelming experience. It can even become daunting where various challenges must be addressed. Imagine, for example, that you have married for a second time and there are children from one or both marriages and the relationship amongst the families is not especially amicable.

You wish to provide for your new spouse and all your children on your death. However, and as we often encounter, your most valuable asset is the immovable property where you and your spouse reside. How do you ensure that your spouse has a home whilst also providing for all the children to inherit at the same time? Determining in your will that the spouse and children should be co-owners is only wise if there is a particularly sound and strong relationship between such heirs.

Are there other options? One solution can be to use a fideicommissum. This Latin word refers to the legal structure by which, in this context, the testator (as property owner) bequeaths his property to another person (the spouse), subject to it being transferred from that person to yet another person at a later stage (ie, to the children when the spouse passes away). The fideicommissum is recorded as a condition in the title deed when the property is transferred to the spouse.

The fideicommissum can be drafted to provide for various instances. For example, it can be stipulated in your Will that your spouse will enjoy this fiduciary right until he or she passes away, remarries or permanently vacates the property. This means that your spouse would own the property but upon the happening of either of the aforesaid events, his or her right would terminate and in this event the property would devolve upon your children.

If your spouse however wishes to vacate the property because (for example) it has become too big for him or her to manage as time goes on, you could state that in this event, your property must be sold and your spouse could, using the net proceeds, purchase a smaller property. The same conditions would have to apply to this smaller property. Lastly, you could state that any remaining proceeds would devolve upon your children.

Contact STBB for assistance should you wish to implement such a fiduciary provision in your will or for advice on other ways to best provide for your loved ones. 

STBB Claremont



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