How much can you borrow?

If you are a temporary resident in South Africa on a work or business permit, Cape & Country can assist you in being classified as a resident borrower and therefore potentially eligible to borrow up to 100% of the purchase price.

Information you need to know:

It is important to note that when a foreign national departs the Republic of South Africa, the criteria for non-resident foreign national purchasers will apply and the mortgage may have to be reduced to fall in line with the South African Reserve Bank's formula requirements. Therefore you will have to reduce your mortgage down to effective 50% of the initial purchase price. To do this you will have to pay money into your bond, and the money used to do this must be introduced from overseas.

What Structure of Property ownership can I use?

Property can be owned individually, jointly in undivided shares or by an entity such as a company, close corporation or trust or a similar entity registered outside South Africa. For more information on this, and the pros and cons of each structure, please contact us to speak to a mortgage consultant.

Costs of Purchasing Property in South Africa:

Most costs associated with purchasing a South African property are on a sliding scale depending on the cost of the property, and the size of the South Africa mortgage. The main costs of purchasing property in South Africa for which the purchaser is responsible are as follows:

• transfer costs
• attorney costs
• inspection and initiation fees