Mortgage Default Behaviourin South Africa’s Low IncomeHomeowners Relates to Banks Borrower Education Programmes

Vuyisani Moss
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Vuyisani Moss: Research Analyst at the National Housing Finance Corporation (NHFC) in Johannesburg, South Africa

International Journal of Finance & Banking Studies, 2013, vol. 2, issue 2, 66-75

Abstract: In investigating the non-payment phenomenon in South Africa’s low income households, a case study of Protea Glen the researcher employed quantitative tools and qualitative methods. The rationale was prompted by high level of evictions and repossessions fornon-payment of mortgages in the Protea Glen area in Johannesburg South Africa.The research approach was to measure and draw sample size from the units of population, conduct interviews and capture and analyse data through the use of SPSS as a suitable statistical instrument. Furthermore, the aim was to employ a suitable model for measuring the relationship between dependent and independent variables and also to highlight the limitations of the study. The findings of the study revealed several interesting empirical results that underpinning the importance of borrower education for mortgage account holders and the need by the banking sector to properly empower borrowers about credit behaviour, responsibilities and obligations of owning a property plus theongoing costs of ownership.

Keywords: Mortgage; Borrower; Educatoin; Behavior; Bank (search for similar items in EconPapers)
Date: 2013
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