South Africa is an increasingly attractive proposition for property investors. Its outdoor lifestyle, enviable climate, extraordinary wildlife and natural beauty make it an exhilarating place to live. Economically too, the country has much to offer, with its first-world infrastructure, growing emerging market and competitive property sector.
Whether you intend to settle in South Africa or wants a buy to let investment, North Mortgages International can help you make it become a reality. Absa, a Barclays subsidiary and one of the largest banks in South Africa, will guide you through the process of selecting the right Absa mortgage for you and they offers great products and guidance to help you along the way.
Arranging a mortgage in South Africa
The Absa International Mortgage is specifically designed for people who want to purchase a property or remortgage an existing property in South Africa. There is no minimum and no maximum loan amount so subject to loan to value, it's as flexible as your client's budget allows.
A mortgage in South Africa can be used to purchase an off-plan property, one that has already been built or even vacant land. For non-residents, Barclays could lend up to 50% of the value of the property (And for South African residents temporarily in the UK, we can consider lending up to 110% loan to value. For more details, download our fact sheet). Mortgages will be repaid at a variable interest rate of Prime plus 1%. The maximum term for a mortgage is 20 years. There is no minimum term.
Interest rates
We offer a repayment mortgage for International clients with a variable rate available at Prime + 1%.
Current Prime Lending Rate 14.5%-as at December 2007.
Prime is linked to the Repo rate of the South African Reserve Bank and regularly reviewed
At North Mortgages our Mortgage Experts will take care of everything on your behalf. Remember, we source mortgages from the whole of the market, so you know your getting the best deals available and all tailored to suit your personal circumstances.
Call NOW on: 08000 949 595 or contact us today to arrange a Call Back.
