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If I am a South African Resident working abroad, can I apply for bond finance to purchase a property in SA?
Yes, if you are a SA resident working abroad, an 80% mortgage bond can be secured. Most banks will look at granting up to an 80% loan but each application is reviewed on individual merit. Certain clients have been granted 100% finance, in exceptional circumstances.
You must only be living abroad temporarily and must have plans to return to South Africa. In addition, an application to emigrate must not have been made, nor should you have surrendered your permanent residency status in South Africa. Please consult one of our experienced ooba home loan finance experts to assist you.
ooba Has a host of home loan calculators and other resources available to help you determine the potential cost of your home loan when planning and budgeting.