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xpat forums : Permits and Visas and Legal : Home Loans for expats

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andy Jul 20 2009 05:50 PM
Home Loans for expats
Hi,

My company has just asked me to transfer to our Johannesburg office. I would like to buy a house however I've been told by several banks that I will require a 50% deposit unless I have a South African ID. Does anyone know if there is a way around this requirement?

Thanks,
Andy
h00 Jul 21 2009 02:07 PM
Hi Andy

I've had very good experience with Bondadvisor. Pls see their website on www.bondadvisor.co.za

They should be able to give you advice.

H00
andy Jul 27 2009 03:04 PM
Thanks

I spoke to them and other brokers / banks. It appears as though if I do not have a South African ID (i.e. I am a resident) then banks require a 50% deposit for a house in order to get a bond.

If anyone knows of any way around this please let me know!

Andy
Intergate-Immigration Jul 29 2009 08:41 AM
This is correct. Banks will only loan 50% of the value of a property to a foreigner.

For more info on buying property in SA you can contact nadia@sahomebuyers.co.za

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