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SAHERPA in the News


The purpose of this section of our website is to bring to consumer's attention any issues in the news relating to SAHERPA and it's related activities. While we will try to keep this as up to date as possible, it is possible that we will miss things at times. So, if you come across something in the news or press that relates to SAHERPA, and it is not reflected here, please bring this to our attention.

Relief in sight at last - Reverse Mortgages / Home Equity Release become a reality in SA

"SAARP has had a carefully nurtured dream of being able to point members, often long retired and overrun by the ravages of inflation, toward a possible financial solution if they are property owners. SAARP is proud to announce that SAHERPA (the South African Home Equity Release Protection Association) has now been established after much research, negotiation, time and effort by many providers who have applied for membership of SAHERPA". Source: SAARP Bulletin, September 2007.


News Alert! - Reverse mortgage loans

"We once again, would like to alert SAARP members and senior citizens in general that the process of obtaining reverse mortgages is a potentially dangerous means of financing. These steps should not be entered into lightly and then only with a reputable company. For this reason SAARP requested the Government to introduce some form of control through legislation as means of protection. When the request was not successful, SAARP was instrumental in establishing SAHERPA, a body established by all the stakeholders in the industry to safeguard the interests of the senior community. SAHERPA, with its strict codes of conduct and registration criteria, ensures that only reputable, reliable companies are members. We encourage our members and senior citizens to only use a SAHERPA registered body when considering a reverse mortgage loan on their hard earned properties". Source: SAARP Bulletin, December 2007.





Other Home Equity Release Industry Developments

The purpose of this section of our website is to bring to consumer's attention other items in the news or of general interest as far as Home Equity Release products are concerned, in the broadest possible context.

Pensioner wins court case against mortgage scammers

Many companies will claim to offer Home Equity Release products. The products might all look the same, the reality however is that small differences in product design can have a material impact on customers. This article reports on the drama that unfolded for an unfortunate pensioner that did business with a provider that was not accredited by SAHERPA. Source: Saturday Star, March 2009


A home can be far more than a roof over your head

Bryan Hirsh, a respected and well-known financial planner, writes about the benefits and pit-falls of home equity release products.
Source: Business Day, July 2009


As one can imagine, this particular body of reading cannot be expected to be exhaustive, as a consequence, it is provided for consumers' information purposes only so that they may secure a broader understanding of the industry.