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Homes > South
Africa
South
African Property
as Security
Justcredit.biz
can now help you
to finance your
overseas home by
using the South
African property
as security.
If you need finance
to help you to purchase
your South African
property, then Justcredit.biz
can help. We have
joined with a team
of licensed credit
brokers, who have
over 20 years experience.
Whether you wish
to purchase your
first home or re-mortgage,
we can help.
Based on the valuation
or purchase price,
whichever is the
lower, of the South
African residential
property, UK and
Non-UK applicants
can borrow up to
80% of the value
of the property
for purchasing a
new home and up
to an 80% re-mortgage
for home improvements.
Re-mortgages for
any other purpose
will be dealt with
individually. There
is no maximum amount
you can borrow,
however the minimum
is £80,000.
The mortgage can
be repaid over various
time-scales; however
the maximum is 20
years, and can be
available up to
age 70. Current
interest rates as
at January 2003
are from 15.00%
in SA Rand.
The example below
is based on a repayment
mortgage for £100,000.
- Written
Quotations Available
On Request -
£100,000
over a period of
20 years at an interest
rate of 15.00% means
a repayment of £1,332.00
per month, and a
total approximate
amount payable over
the 20 year term
of £321,680
including capital,
interest, arrangement
and survey fees.
Your net income
is the main criteria
that will be looked
into when you apply
for a mortgage in
South Africa, and
all your existing
debts both at home
and abroad will
be taken into consideration.
ALL ENQUIRIES
WILL BE DEALT WITH
ON A CASE BY CASE
BASIS & ARE
SUBJECT TO SATISFACTORY
CREDIT STATUS &
VALUATION
Please note, that
as the loan is secured
on the overseas
property, it is
not covered by the
UK Consumer Credit
Act or the UK Mortgage
Code.
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