Cape Town - Consumers should think twice before taking on any more debt after just having a home loan approved, cautions Shaun Rademeyer, CEO of mortgage originator BetterLife Home Loans.
He warns that the sense of relief and excitement once a home loan has been approved can easily lead to some unwise financial choices, especially among first-time buyers.
In his view, the safest course is for the homebuyer to change as little as possible between the time a loan is approved and the completion of the new home. Steady employment and spending habits will pay off later.