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Build your own house

With an offer to purchase or title deed and a detailed quotation from your builder, you’re ready to apply for a building loan with us.

Where are you on your homebuilding journey?

1. You’re building off-plan in an estate or development

Buying a new home off-plan directly from a developer before it’s built means you don’t pay any transfer duties for taking ownership of the property.

In most cases, the attorney registration and transfer fees are also included.

If you have an offer to purchase from the developer, you’re ready to apply for a building loan with us.

2. You have the title deed to your land

You’ll need to present your original title deed when signing at the attorneys for your building loan (the title deed and mortgage bond are registered together at the deeds office).

When your land is already bonded with a bank, the bank provides the title deed to the registration attorney*.

With the title deed, house plans, a contract between the builder and yourself, a detailed quotation, and a schedule of finishes from your builder, you’re ready to apply for a building loan with us.

*If you ever misplace your copy of the title deed, the registration attorney can provide you with a new one

3. You’ve found the land you want

Once you’ve made an offer to purchase the land, contact us to find out how much you qualify to borrow in principle.

Your offer to purchase is a written contract setting out the terms under which you agree to buy the land from the seller, and prevents another buyer from taking the sale from you.

With the title deed, house plans, a contract between the builder and yourself, a detailed quotation, and a schedule of finishes from your builder, you’re ready to apply for a building loan with us.

4. You’ve made an offer to purchase

Speak to us to find out how much you qualify to borrow in principle. Once your architect has drafted up your house plans, a contract between the builder and yourself, a detailed quotation and schedule of finishes from your builder, you’re ready to apply for your building loan with us.

If you don’t yet have an architect, you can find one at the South African Institute of Architects.

If you’re looking for a registered builder, you can find one at the National Homebuilders Registration Council (NHBRC).

But before you spend money on house plans, speak to us about out how much you qualify to borrow in principle.

5. You have house plans

The house plans your architect drafts give a builder enough information to accurately quote how much it will cost to build your home.

House plans also help our assessor to value the property (based on the number and size of the rooms, for example).

After registering the land in your name at the deeds office, your plans must be approved by the local municipality or council before you start building.

Eco-friendly systems must be approved by the bank.

You may also need a community acceptance letter from your local homeowners' association or estate, if there could be concerns over your innovative building plans affecting the value of surrounding properties.

If you’re looking for a registered builder, you can find one at the National Homebuilders Registrations Council (NHBRC) website.

See Complying with the NHBRC
See 25 questions to ask your builder

6. You have a builder

The builder you choose needs to be registered with the National Homebuilders Registration Council (NHBRC).

A legal contract between you and the builder helps to manage processes should there be any disputes or snags.

With a detailed quotation from your builder, you’re ready to apply for a building loan with us.

See Complying with the NHBRC
See 25 questions to ask your builder

7. You have a detailed quotation from a builder

This is a crucial document you need from your builder. Given your house plans, your builder’s detailed quotation outlines the cost of the build.

You’ll need to provide this detailed quotation when applying for a building loan. We can then use it to value the property to be built.

Be mindful of any clauses regarding payments in your contract. They will need to be in line with our policies and the Consumer Protection Act.

Ask your builder for clarity on anything you don’t understand so that you know what you’re paying for.

8. You need to enrol your home with the NHBRC

Homes need to be enrolled with the National Homebuilders Registration Council (NHBRC) at least 15 days before construction begins.

Banks may not provide building loans for homes that aren’t enrolled. Although your builder can enrol your house on your behalf, not all builders provide this service. Your builder needs to be registered with the NHBRC.

Ultimately, enrolling with the NHBRC is the homeowner’s responsibility.

9. Know your finance options

Do you have a 10% deposit for the land, or will you need 100% finance for the land and build?

Knowing this helps us better understand your needs, and how we can set you up going forward.

If you want to first finance buying your land, and then later apply for a building loan, different criteria could apply to a land-only loan.

If you only want to finance your land right now, and don’t plan on building for a while, we can offer you up to 70% loan to value, over a ten-year period.

10 . You have a land bond with another bank

As long as your land is bonded with another bank, we can’t finance your build.

To finance your build through us, you can switch your bond to us by giving the other bank 90 days’ notice.

Before you decide to switch and give notice, contact us to see if you qualify for the build loan you need.
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