Welcome to our section on buying a home in South Africa. South Africa has become a popular loctaion for many people looking to buy a home abroad. The strength of the GBP to the South African Rand also helps make the country a desirable location for a holiday home.

When thinking of buying a property in South Africa, you must take into consideration the fact that there are no; non-status/self-certification South Africa mortgages available. All mortgage applications must be backed up with the bare minimum of; your proof of income, i.e. if employed - copies of your last three month's pay slips and copies of your latest P60/Employer’s Reference combined with copies of your last 6 month’s Personal Bank Statements are necessary. Alternatively if you are 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.

It is important to note that, in South Africa the Lenders will NOT take into consideration any proposed Rental Income from the property for mortgage purposes/repayments.

The amount you can borrow is based on your net (not gross) income, i.e. the amount you 'take home' each month. In South Africa your mortgage repayments, combined with any of your other monthly pay outs (such as; bank loans, maintenance, etc.), must not exceed 35% of your monthly income, therefore the amount you can borrow is calculated on an affordability basis.

If you require finance to purchase a property in South Africa , then we can help, we are giving you the opportunity to take expert advice from an experienced team of licensed credit brokers, who have over 20 years experience. The current South African average mortgage rate is 12,5%.

Based upon the valuation or purchase price of your property (whichever is lower), you can borrow up to 80% of the value for purchase (or re-mortgage of an existing property for the purpose of home improvement). A loan for any other reason will be dealt with case by case. You can borrow for a term of up to 20 years, these loans are available to individuals up to the age of 70.

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