South African homeowners are entering 2026 with both hope and uncertainty. With interest rates still high and the cost of living squeezing household budgets, many families are struggling to keep up with bond repayments. In response, financial institutions and policymakers are discussing targeted mortgage relief measures designed to support homeowners in genuine financial distress. While South Africa has not yet released a single nationwide mortgage relief scheme akin to some international programmes, there is growing focus on keeping more families in their homes and easing mortgage burdens where possible.
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What’s Happening With Interest Rates and Your Home Loan in 2026
As of late January 2026, the South African Reserve Bank (SARB) held the repo rate at 6.75%, keeping the prime lending rate at about 10.25%. This decision means there’s no immediate interest rate relief for borrowers at the start of the year, though industry experts are watching for possible cuts later in 2026.
While this stability might seem like a small break after years of volatility, a prime rate above 10% still makes home loans expensive for many households. Even so, previous rate cuts including those in late 2025 have provided some relief, with homeowners potentially saving thousands over a long mortgage term thanks to lower interest.
Why Mortgage Relief Is a Topic of Discussion
The push for relief is rooted in real financial pain for many South Africans. Analysts and financial commentators have noted that mortgage arrears have been rising, with a sharp increase reported over recent years as households face higher costs and debt servicing pressures.
This doesn’t just impact individual families rising arrears can contribute to broader market instability, more distressed housing sales, and downward pressure on property values. When homeowners start missing payments or are forced to sell, it can create a domino effect that hurts the property market and the wider economy.
What Forms of Support Might Be Available
While there isn’t one official national mortgage relief programme released yet, many lenders and housing finance bodies are taking steps to work with struggling borrowers. Relief can take several forms, depending on your situation and your bank’s policies. Banks may agree to temporarily lower your monthly instalment if you can demonstrate financial hardship. They may also extend the term of your loan or rearrange payment schedules to help lower monthly costs.
How Relief Measures Could Ease Your Budget
Relief measures may include lowering monthly instalments temporarily, spreading repayments over a longer period, or adjusting interest charges to reduce short-term costs. These adjustments can free up household cash flow, making it easier to meet day-to-day expenses while keeping your home secure. Each case is evaluated individually, with banks tailoring the support based on your financial situation and repayment history.
What You Should Do If You’re Struggling
If you’re finding it hard to keep up with your bond repayments, the best time to act is now before you fall behind. Banks are more willing to work with you if you reach out early with clear documentation, such as proof of income loss, rising expenses, or other hardship.
Gather your latest salary slips, bank statements, and a summary of your monthly expenses. Then contact your lender’s home‑loan department and ask about available relief options. Be honest about your situation and open to working with their financial counsellors this increases your chances of finding a workable solution faster.
The Bigger Picture Government Actions and Broader Support
While specific mortgage relief is mostly handled between homeowners and lenders, the government’s broader efforts to ease household stress have included measures like social grants and housing access schemes. The Social Relief of Distress (SRD) grant has been extended into March 2026 to support vulnerable households with basic income support.
Additionally, government programmes such as First Home Finance help first-time buyers secure mortgages, focusing more on access to housing than relief on existing debts. These initiatives show a broader commitment to stabilising homeownership in the country.
