AFFORDABILITY - DO I QUALIFY?

Anyone who has ever dreamt of owning a home with the following in mind:

• individuals (single or Joint) with a monthly income

• Close Corporation, trust or company that was formed for the purpose of owning a residence.

• Monthly repayment may not exceed 30% of total monthly income (single or joint)

INDIVIDUALS

• Salary Earners: latest salary advice

• Commission earners: 6 months proof of commission

• Self employed individuals: Letter from bookkeeper or auditor, latest financial statements.

• 3 months bank statements of the individual/s (not internet based statements)

CLOSE CORPORATION

• All the members' personal information. If one of the members is married in community of property, his of her spouse must also apply.

• CK1 and CK2

• Financial statements of the CC

• 3 Months bank statements of all the members

TRUST

• List of Tustees

• all the relevant personal information of all the trustees

• financial statements of the trust

• copy of Trust Deed and Letter of authority

• Resolution advising who may sign the loan application

• Authorization letter from the Master of the Supreme Court permitting trustees to deal on behalf of the trust

COMPANY

• all the relevant personal information of all the directors

• financial statements of the company

• List of directors

• CM1 Certificate of Incorporation

• CM2 Memorandum and Articles of Association

• Resolution advising who may sign the loan application

HOME LOAN INTEREST RATE OPTIONS

VARIABLE

This is the most convenient option for most home loans. The rate quoted is linked to the Base Home Loan Rate and is subject to fluctuations of this rate. Your debit order will be adjusted accordingly

FIXED RATE

This is a fixed interest rate set for a period of 12, 18 or 24 months. This option is mostly for clients who restrain their budget, and prefer to know what there bond repayment is over a fixed period.