What steps should you take if you find it challenging to meet your bond repayment obligations?

Coping with the challenges of bond repayment might seem like a nightmare, but there’s no need to panic. Rest assured, there are viable options available to assist you in meeting your bond obligations.

In the wake of economic difficulties arising from post-lockdown times, banks tend to be more understanding of the situation homeowners find themselves in. Instead of fearing the worst-case scenario, explore the following steps to tackle the issue:

  1. Negotiate with your bank: Act swiftly if you foresee potential problems in making your bond payments. Banks generally reach out once a payment is missed, so it’s essential to be proactive. Engage in open and honest communication with the bank, explaining your circumstances. Keep emotions in check during negotiations, as the goal is to find a workable solution. The bank might offer various options, such as extending your loan duration (up to 30 years) to reduce immediate financial strain or granting a temporary payment holiday to allow you to stabilize your finances.
  2. Consider credit insurance: Some home loans include credit insurance, which can help cover bond repayments during challenging periods. Check if your loan offers this feature and utilize it if needed.
  3. Selling the home as a last resort: While it may be disheartening, selling your home can prevent further complications and potential homelessness. If bond arrears persist, the bank will issue warnings and provide a 30-day window to resolve the situation. If no resolution is reached, they may proceed with legal measures, leading to the sale of the property. To avoid this, consider selling the home proactively, ideally with the assistance of an estate agent to secure the best possible market value. The proceeds from the sale can be used to settle outstanding debt.


Prevent finding yourself in this predicament by maintaining a well-thought-out budget. Utilize a Bond Repayment Calculator to assess your bond payments accurately.

To prepare for unforeseen circumstances, secure a bond with low-interest rates by comparing offers from multiple banks. Submit your bond application through our services to find the most favorable deal for your situation.

We also offer a range of tools that can make the home-buying process easier. Start with our Affordability calculator, then use our Bond repayment calculator. Finally, when you’re ready, you can apply for a home loan.