We can assist you in arranging your non-resident mortgage in South Africa.

Here, two great oceans meet, warm weather lasts most of the year, and big game roams just beyond the city lights.
 
South Africa is one of the most sophisticated and promising emerging markets in the world, offering a unique combination of highly developed first world economic infrastructure with a vibrant emerging market economy.
 
There are certain restrictions on non-residents purchasing property in South Africa. The non-resident may borrow up to a maximum of 100% of his/her borrowing base. The ‘Borrowing base of a non-resident individual is the sum introduced into South Africa to fund the purchase of a property, i.e 50% of the purchase price Eg “A non-resident wishes to purchase a property in South Africa for R600,000.00. Provided R300 000.00 is introduced into South Africa to effect the purchase he / she would be able to apply to the South African Reserve bank for permission to avail himself of a bond of R300 000.00. In other words banks will lend up to 50% of the purchase price, subject to their normal terms and conditions, which would include a valuation of the property.

Technically, if a non-resident has consistently brought funds into the country over a number of years, he/she may borrow up to a maximum of 100% of the total funds invested in South Africa - theoretically this could also be more than 50% of the purchase price of the property.

The ability to obtain a mortgage should be included in the agreement of Sale as a condition where the sale is subject to receiving mortgage funds.  
 
The Non-resident does not have to open a banking account in SA with a commercial bank, although some banks insist, as he/she can transfer funds directly from his overseas account into his Mortgage Account. If an account is to be opened, especially if an access facility is required for the capital paid off, then the non-resident is required to obtain an original letter of credibility from his bankers. . This local account will often be funded from abroad or from rental income from the property purchased, subject to the bank holding the account being in possession of a copy of the rental agreement.