Mortgages for South African Property (Foreign Nationals)
Wednesday, October 15th, 2008Mortgages for buying property in South Africa
Many banks restrict lending on property in South Africa to 50% of the value of the property to foreign nationals.
Whether for an investment or a holiday home, this could be the perfect opportunity. We can currently offer mortgages on South African property at 80% of the value, in all major currencies.
Arranging a mortgage in South Africa :
Loans available for Purchase, Construction or Home
Improvements. Residential & Commercial.
Loan advance of 80% of the purchase price of the property. (Up to 100% funding on additional collateral)
Maximum loan term 10 years, fully amortised (Repayment Only)
Multi Currency Funding - all major currencies, including ZAR. (Currency Switching Facility)
Interest Rates and Fees are assessed on a case by case basis. (Indicative rates of 2.75% – 3.0% over the relevant 1M-LIBOR rate)
No Early Redemption Charges
This product is also available in Mauritius, Seychelles and other countries on request.
Minimum loan size $350,000, no maximum.
Individuals must demonstrate adequate net asset value and disposable income to service the loan.
We are able to obtain pre-approval of mortgages for customers, so whether you are at the very early stages of thinking about purchasing a property in South Africa, already found your new property, or currently have a mortgage on your South African home and wish to save money, we maybe able to help.
Want to find out more information, please contact me via my website: www.international-mortgage-broker.com