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Buying a home

From deciding how much to borrow to making your offer to purchase, and finally applying for your home loan, buying property is easier than you think.

BUY A HOME IN SIX STEPS

1. Work out what you can afford

Use our calculators to get an idea of how much you can borrow, and what your monthly repayments will be over terms up to 20 years.

It’s also worth seeing if you qualify for a government subsidy or one of our affordable housing options

2. Decide how much to borrow

You can borrow up to 100% of the property’s purchase price. Registering a bond for a higher amount means you can borrow extra later, without registering a second bond.

First-time buyer? You can get up to 104% for a purchase price of R 1m or less, and use the extra 4% towards transfer and bond registration costs.

3. Find your dream home

When viewing properties, check for signs of damp or structural damage, and anything else that you will have to spend more money on once you’ve moved in.

You might also want to have a look at repossessed properties for sale through online auction (transfer duties don’t apply to these properties).

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4. Make an offer to purchase

Once you’ve found the home you want, you’ll need to make an offer to buy it.

If your offer is accepted, you and the owner must sign your offer to purchase. You may submit a copy of the offer when applying for your home loan.

5. Apply for a home loan

You can apply on your own, or as a trust or business, or make a joint application with your spouse or partner.

We’ll be in touch to confirm your home loan and personalised interest rate, and arrange a time for you to come in and sign your home loan contract.

6. Insure your home

You need building insurance for the duration of your home loan. We can get you quotes online for building, home contents, and home loan insurance.  

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PER Insurance Building Insurance Product Detail
Building insurance

Get cover for structural damage caused by fire, storms, theft or burst geysers.

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Home loan protection plan

If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover.

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Home contents insurance

It takes years to furnish your home, and just seconds for your hard work to be undone. With the right cover, it won’t take as long the second-time round.