Mortgages and Property

South Africa

Includes South African Residential Property

Loans available for the majority of Nationalities for either House Purchase or re-financing for Home Improvement purposes only.

Type of Loan: Repayment Mortgages only for loans over 10 years, but part Repayment & Interest only possible for loans under 10 years

Minimum: £ 80,000, No Maximum, but must not exceed 80% of valuation or purchase price (whichever is the lower).

Proof of Income: required in all cases (can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, it is not always the case that the Lender will take all or part of these Incomes into account when determining the maximum loan available). Non-Status loans are currently not available.

Term: Up to 20 years - up to a maximum age of 75 (dependant on Income after retirement age)

Currency: South African Rand only

Current Interest Rate: from approx 15.00% Variable - no Fixed Rates currently available

Example based on a 50% advance: Repayment mortgage of £50,000 over a period of 20 years at an interest rate of approx. 15.00% = £666.00 capital and interest per month = a total approximate amount payable over term of £161,840 including capital, interest, arrangement and survey fees.