Uncle Ribie

@talkcentss 1st 2 years are rent to buy.

The 𝗱𝗲𝗳𝗲𝗿𝗿𝗲𝗱 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗮𝗹 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 is a debt trap for young professionals. ‼️🚨 It’s been framed as “𝗵𝗼𝘄 𝗰𝗮𝗻 𝘄𝗲 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂” but really it is “𝗵𝗼𝘄 𝗰𝗮𝗻 𝘄𝗲 𝗵𝗲𝗹𝗽 𝗼𝘂𝗿𝘀𝗲𝗹𝘃𝗲𝘀” I say this because if they really wanted to help, 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝘁𝘄𝗼 𝘆𝗲𝗮𝗿𝘀 𝗼𝗳 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗴𝗼 𝗲𝗻𝘁𝗶𝗿𝗲𝗹𝘆 𝘁𝗼 “𝗰𝗮𝗽𝗶𝘁𝗮𝗹” 𝗮𝗻𝗱 𝗻𝗼𝘁 “𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁” ——- Let me explain: The first two years go towards only repaying the interest portion on your home loan and not the capital. (𝗧𝗵𝗲 𝗯𝗮𝗻𝗸 𝗶𝘀 𝗱𝗲𝗹𝗶𝗯𝗲𝗿𝗮𝘁𝗲𝗹𝘆 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗮𝗿𝗼𝘂𝗻𝗱 𝗰𝗼𝗻𝘀𝘂𝗺𝗲𝗿𝘀’ 𝗺𝗶𝘀𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗼𝗳 𝗮𝗺𝗼𝗿𝘁𝗶𝘇𝗮𝘁𝗶𝗼𝗻). With standard home loans, your monthly bond payment is split into two portions: 1️⃣Principal 2️⃣Interest For example, on a R1 million home loan at 10% over 20 years, your monthly payment would be R9,650, which is split like this: 1️⃣Principal = R1,316.88 2️⃣Interest = R8,333.33 𝗢𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗮𝗺𝗼𝘂𝗻𝘁 = 𝗥𝟵𝟵𝟴,𝟲𝟴𝟯 ——— However, with the deferred principal strategy that FNB is using, it means you only have to pay the 2️⃣ interest portion on your home loan every month for 24 months. (R8,333) That means your monthly payment falls from R9,650 ——>R8,333, increasing your cashflow. 𝗕𝘂𝘁 𝘆𝗼𝘂𝗿 𝗼𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗱𝗲𝗯𝘁 𝘄𝗶𝗹𝗹 𝘀𝘁𝗶𝗹𝗹 𝗯𝗲 𝗥𝟭 𝗺𝗶𝗹𝗹𝗶𝗼𝗻. For this privilege of keeping your debt the same, you save R1,317 month (R15,804 a year). ——— *After the two year “grace period” your 20 year home loan is compressed into 18 years and the loan reverts back to a standard home loan. Now you have a R1 million home loan at 10% (Or whatever the prevailing rate is) over 18 years. So the breakdown would now be: Monthly = R9,998 1️⃣Principal = R1,665.10 2️⃣Interest = R8,333.33 𝗢𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗮𝗺𝗼𝘂𝗻𝘁 = R998,334 (25 months in) ———- Under a standard 20 year home loan agreement, you would pay back: ✅R2.31 million (R1.31 million interest) ——- Under FNB principal deferred structure, where they compress it into 18 years after the two year “grace period” you would pay back ✅R2.35 million (R1.35 million interest ) You pay back roughly R43,610 more than a standard home loan, however, the article does not mention if the loan would be compressed into 18 years after the two year “grace period” or if it would be an additional 20 years after the 2 year “grace period”, in that case costs can rise by at least R200,000 more.

@CaThiii_M Did they offer them caps?

So people were disqualified because they ran in branded caps? Even a Comrades Marathon cap?

@SishPlatyi @MGoodnessr khade natshawe tshitori

I just met my biological father for the first time in my life. Bethuna umama?😳😳😭😩

@tonga__l Shaulin formation

Hai marn🤣🤣🤣🤣🤣🤣

@twieterazzi @MohauSam I need that AGM for my Ego

@Ribiemd @MohauSam That's why I have cancelled that AGM for runners taking place between Pietermaritzburg and Durban

Totally agree!

@nada_mpupu 😂😂😂

@Ribiemd 🤣🤣exactly . They’re such hypocrites. We have Sanlam which pretty much mimics the said marathons and they keep missing their targets

Runners always get angry when we talk about favourable terrains in marathon races but same people are suggesting that people overseas have good marathon times because of the sea level so it makes their marathons easy. When does the “there’s no easy marathon” rule apply kanti?

@Rare_gemstone And we have people defending this behavior 🙄.

BATHOng Maboe stepping on Rele 🙆🏾‍♀️🙆🏾‍♀️🙆🏾‍♀️🙆🏾‍♀️ What kind of bo pelo ye mpe is that ?

@DisekoNkele @CTMarathon @adidas 😂😂😂😂😂. A win is a win

This will be me after finishing @CTMarathon 6:29:59 wearing @adidas 👟👟🤭🤭

@adamlipschitz It seems like you never touch the ground

London Marathon 🇬🇧 2:09:53 mins

@Humbu30 Cuddles from 3:00 until 4:15. 35km from 5:15 until 8:30.

Uyayiva ngoku🙆🏻‍♂️🙆🏻‍♂️🫣🫣😅😅

@lezoothi 😂😂😂

@Ribiemd O raloka ka batho not uraluga ga batho😂😂😂 Hai maan😂😂

🤣🤣🤣🤣

@TebogoMokubung1 @puksie1 Keep up the good work my guy

@Ribiemd @puksie1 Bro, we were running at insane pace while talking abt environmental issues 😃

Running alongside Gerda for 34km under 4min/km is the highlight of my day😭😭😭. #RunningWithSoleAC #RunningWithTumiSole #FetchYourBody2024

@puksie1 @TebogoMokubung1 I would love to run along any top runner, if I can maintain the pace.

@TebogoMokubung1 Our brothers love running with this lady maar y😭😭👊🏽

@FairJoyZA_ @LeboMKeswa 😂😂

@Ribiemd @LeboMKeswa Off the cabinet , on to the hands 🤣

@FairJoyZA_ @LeboMKeswa So she does not need gloves for this one?

@LeboMKeswa Gloves are off now 😭this is the Sunday we all needed 😌

@Ndlombango Thats my plan for next year

Guess what, some people suffered today at the 56km marathon, tomorrow they will be lining up for the half marathon. 😭😭😭

@Micylaaa Half marathon is meant for those who dont prepare.

Seeing so many people running the Two Oceans Half with zero training is honestly frustrating. I couldn’t even get an entry, and I’ve been training so hard !! Ugh