Mortgages for buying a property in South Africa

Choose a Country Andorra Australia Bulgaria Canada Caribbean Cyprus Czech Republic Florida France Greece Ireland Israel Italy Malta Monaco New Zealand Poland Portugal South Africa Spain Switzerland Turkey United States Others

If you are considering buying a property in South Africa,  mortgages are available for the majority of Nationalities for either House Purchase or remortgage for Home Improvements and other purposes on a case-by-case basis.

Types of South African Mortgage: Repayment Mortgages only for loans over 10 years, but part Repayment & Interest only possible for loans under 10 years.

Minimum Loan Amount: Rand 500,000 "onshore" or Rand 2,000,000 "offshore", No Maximum for either option., but must not exceed 90% of valuation or purchase price (whichever is the lower), however if you are a non-South African National the maximum is currently either 50% of valuation for "onshore" loans or possibly 80% for "offshore" loans.

Proof of Income: There are no non-status/self-certification mortgage facilities available in South Africa (although renting out your property is permitted). All South African mortgages need to be supported by proof of income.

Employed - copies of your last three month's payslips & copies of your latest P60/Employer’s Reference together with copies of your last 6 month’s Personal Bank Statements will be required.

Self-employed - copies of your last three years Audited Accounts & copies of both your last 12 month's Business and last 6 month’s Personal Bank Statements will be required on application.

Income can be made up of Earned Income, Pension, Investment or Rental Income. Please note however, that the Lender may not take all or part of these Incomes into account when determining the maximum loan available.

Term: Up to 20 years - up to a maximum age of 70 (dependant on Income after retirement age)

Currency: South African Rand only