Visitors can use the comprehensive online mortgage tool to conduct a range of calculations about their homeloan at no charge and their data will soon be saved for return visits to the site.

John Samson, Editor of Fin24, SA's most visited financial portal, says that anyone with a bond will, at some stage, have wondered how a big rise in interest rates will affect their installments. "Or they may have worried how much sooner they will pay off their bond if they pay their full thirteenth cheque into their bond for 10 years. We have designed our calculator with these - and many other - queries in mind and believe it offers a very comprehensive range of calculations for the homeloan owner."

Samson said unlike other online calculators which were biased towards specific institutions, the consumer was able to conduct completely objective calculations. "Owning a home is a fundamental part of South Africa's culture but the complexity of bonds and the temptation to withdraw money from a bond for other things leads consumers into financial difficulty. Our aim is to empower consumers to make informed, clever decisions about their mortgage.

"Over the next months we will expand on this and will soon offer a package of similar tools for all aspects of a person's financial life, from medical aid to pension. All data will be stored allowing users to return to Fin24 year after year to carefully plot their financial life."

Samson added that the financial tools fit extremely well with 24.com which aims to be South Africa's most innovative and trusted provider of locally-relevant content, services and ecommerce applications.

All calculations done through the use of software or calculators supplied on Fin24, including the rates quoted, are guidelines only and subject to final confirmation by the bank or financial institution at the time of finalising the loan amount. Visit http://www.fin24.co.za/finance/calc/bond/index.htm .

Contact Details:
www.24.com