Prioritise mortgage before your festive spending

Swaziland Building Society (SBS) encourages its customers to ensure their mortgage payments for December and January are prioritised before spending on holidays. Senior Mortgages Officer Phindokuhle Dlamini said this would help customers avoid penalty fees.

She said to manage your mortgage during the festive season, prioritise your loan repayments and create a strict holiday budget.

She said if a customer anticipated trouble making a payment, they must contact the Society to discuss temporary adjustments or alternative arrangements. 

“If you are struggling, talk to us early,” she said.

Dlamini advised customers who will receive bonuses to use it to pay outstanding property debt as well as reduce existing debt or save ‘rather than spending it all on immediate gratification’.

She also noted that financial goals were important and controlled spending now would help customers start the new year on a stronger financial footing. 

She said alternatively customers may review their loan balances before the holidays to consider refinancing, which could free up cash for the holidays.

In the festive season, Dlamini mentioned that property tips mainly focused on security to prevent break-ins.

She said key security tips included upgrading locks, using timers for lights, and informing your trusted neighbours of your absence.

For security during the festive season, she advised on the following:

Upgrade your locks and doors: Ensure all entry points have tight, modern locks.

Install security lights: Use motion-activated lights near entry points and dark areas.

Use timer switches: Set lights and other appliances to turn on and off at different times to create an impression that there was presence in the property.

Alert neighbours: Inform a trusted neighbour or a neighbourhood watch group of your travel dates and ask them to keep an eye on your property.

Limit signs of absence: Do not leave exterior lights on during the day.

Consider extra measures: If possible, hire a house sitter or ask a neighbour to check on the property periodically.