Can you get a home loan for more than the purchase price for renovations?

You can apply for a home loan higher than the value of the property, although in the case where the loan is intended to cover the cost of home renovations, you may be required by the bank to provide proof of building plans.

Another example of a home loan at more than the value of the property is the 105% home loan, which covers the cost of transfer of property, and bond registration.

At ooba Home Loans, South Africa’s largest home loan comparison service, we can help you secure a 105% home loan, which is aimed primarily at first-time buyers looking to buy properties valued at less than R1.8 million.