Switch Home Loan Application

This will take approximately 5—10 minutes

Initial Questions

Answer a few questions to start your application
Personal Information

Tell us a bit more about yourself
Loan Details

Review and confirm what you need
Review & Submit

Review your information and submit your application when ready

Cancel Start Application

Required Documents

Email these documents (for both applicants if applicable) to [email protected] after submitting your application.

Latest 3 months' salary slips
Latest stamped 3 months' personal bank statements
Copy of your ID document
Copy of marriage certificate or antenuptial contract (ANC)
Copy of the offer to purchase
A written contract between seller and buyer that records the terms and conditions of the sale of a property, often referred to as a deed of sale.
Personal assets & liabilities statement for loan amounts over R2 500 000

Email these documents (for both applicants if applicable) to [email protected] after submitting your application.

Proof of income: Letter of drawings from an accountant
Latest stamped 6 months' personal bank statements
Personal assets and liabilities statement
Latest stamped 6 months' business account bank statements
Latest 2 years' annual financial statements
Where annual financial statements are older than 6 months to date, current management accounts not older than 2 months signed by the applicant and accountant must be provided in addition to the annual financial statements
Copy of your ID document
Copy of marriage certificate or antenuptial contract (ANC)
Copy of registration documents or trust deed
Copy of the offer to purchase
A written contract between seller and buyer that records the terms and conditions of the sale of a property, often referred to as a deed of sale.

It’s important to understand the full cost implications of purchasing property. The estimated costs of buying a home include a number of once-off fees, many of which are legal or administrative costs, for which you need to be financially prepared.

Taxes and fees you can expect to pay when buying a property include:

Transfer duty

This is the government tax levied for transferring a property from a seller’s name to a buyer’s name. This fee is paid directly to a transferring attorney, who is then responsible for paying it across to the South African Revenue Services, on the buyer’s behalf, before the transfer of the property goes through. No property transfer will be recognised until this fee is paid to the state.

The transfer duty amount you’ll be expected to pay depends on the purchase price of the property. There’s no transfer duty paid on properties of R1 million or less, for example; different tax thresholds then apply to the transfer of properties of more than R1 million, calculated according to the price range of the property.

Conveyancing costs

Conveyancing attorneys are paid a fee for registering and transferring a title deed into a buyer’s name. This fee amount is determined on a sliding scale, based on the value of the property.

Bond registration

You can expect to pay a once-off fee to the Deeds Office for the legal registration of your home loan. This fee is a fixed amount based on the amount of your home loan and is paid to the Deeds Office before the registration of your bond. Your bond will have to be registered at the same time as the seller’s bond is cancelled and the transferred is registered with the Deeds Office.

Postage and sundries

The registering (bond) attorney will charge you a small fee for the postage of all necessary documents (i.e. to you, the Deeds Office, estate agent etc.) to register the property in your name.

Home loan initiation fees

There are some administrative setup fees involved in processing your home loan application. This amount is paid on registration of your bond and is often added to your outstanding home loan balance.