Home loan applications for South Africans working overseas are assessed on a case-by-case basis, taking into account your unique circumstances. Each bank evaluates applications differently, so it is highly recommended to apply with all major South African banks to determine the best offer.

Here are the key factors that may influence your application:

• Foreign Income & Expenses: Your overseas earnings and recurring expenses are analysed to determine affordability.

• Employment Details: Your job title, role, and industry play a significant role in the evaluation.

• Employment Contract: The terms and stability of your foreign employment contract are important factors.

• South African Credit Score: Your credit history in South Africa provides insight into your financial responsibility.

• Duration Abroad: The length of time you’ve been living and working overseas may affect the bank’s decision.

• Professional Qualifications: Holding a professional degree or qualification can strengthen your application.

• Proof of Income Documentation: SA Banks require detailed and consistent proof of income, including pay slips, employment contracts and bank statements.

• Debt-to-Income Ratio: SABanks assess your global debt-to-income ratio, factoring in any existing liabilities such as overseas loans, credit card debt, or car payments.

• Forex Exchange Risk: Banks account for potential currency fluctuations and may limit the home loan amount accordingly.

• Deposit Availability: The size of your deposit, if any, can impact your eligibility and home loan terms. We recommend that South Africans working abroad have at least a 10% deposit available before submitting a home loan application.

• Income Stability Upon Return to South Africa: If your expected income in South Africa is lower, this may influence the home loan amount banks are willing to approve.

• Previous Home Buying Record: Your history of purchasing property in South Africa, if applicable, may be reviewed.

• Active South African Bank Accounts: Having active bank accounts in South Africa can be advantageous.

• Your Asset Portfolio: Any existing assets may enhance your financial standing and loan application.

• Financial Emigration: If you have emigrated financially (for SARS tax purposes), some SA banks will consider you a foreigner and require a 50% deposit.

Each application is unique, and by applying to multiple SA banks through us, you can increase the likelihood of securing a home loan tailored to your circumstances.

Pre-qualification is an initial assessment that provides an estimate of how much you may qualify for in a home loan, based on your provided information and documentation. For South Africans working overseas, it's particularly important because it helps you search within your affordability range and demonstrates to sellers that you're a serious buyer. However, it's important to note that this is not a guarantee of mortgage approval.

A pre-qualification certificate is typically valid for 60-90 days. If you experience any significant changes in your financial situation during this period, such as changing jobs or taking on new debt, you should inform Home Loan Capital as it may affect your pre-qualification status.

No, pre-qualification is not a guarantee of mortgage approval or a specific home loan amount. The final mortgage approval and amount will depend on the bank's assessment during the actual home loan application process. South African banks no longer offer pre-approvals.

You must be a full-time employed or salaried worker overseas. Currently, self-employed individuals or business owners based overseas are not eligible. However, if you have a business in South Africa and earn income from a South African-based business, you may qualify.

Yes, it's acceptable to hold a passport from another country as long as you maintain your SA citizenship and hold both an SA ID and SA passport. Dual citizenship is permitted provided you retain your SA ID.

The essential documents include:

• Valid South African ID Copy

• Valid Passport Copy

• Valid Work Permit / Work Visa Copy

• Overseas Employment Contract (must be in Business English)

• Latest 3 months South African bank statements (if available)

• Latest 6 months foreign bank statements showing salary credits

• Latest 6 months consecutive payslips

• Marriage Certificate (if applicable)

• Credit check consent

• We recommend that South Africans working abroad have at least a 10% deposit available before submitting a home loan application.

Your overseas employment contract must be (or translated) in Business English.

The maximum loan term is 30 years.

Yes, your bond must be settled by age 75. However, Standard Bank has no age restriction, but they make decisions based on individual merit for applicants aged 60 or above.

No, transaction costs and transfer duty cannot be included in the bond for South African citizens living overseas.

Depending on your financial profile, professional degree and the property's value, you may qualify for up to 100% financing. However, having a deposit of 10% - 30% can broaden your options and potentially secure better interest rates from a wider range of banks. We recommend that South Africans working abroad have at least a 10% deposit available before submitting a home loan application.

You should budget for:

• Transfer duty (unless the transaction is subject to VAT)

• Conveyancing Fees

• Bank Initiation Fee for your Home Loan

• Bond Registration Fees

• Homeowners Insurance

• Deeds Office Registry Fee

• Property Rates and Taxes

• Travel Costs to/from South Africa (if planning to view properties)

Transfer duty is not payable if the transaction is subject to Value Added Tax (VAT).

You can structure your offer with two key conditions:

1. 'Subject to Home Loan Approval' - ensuring you have financing in place

2. 'Subject to Property Viewing by Myself' - allowing you to inspect the property after loan approval before finalizing the sale

Look for an estate agent with:

• Experience dealing with overseas-based buyers

• Strong background in the areas where you're looking to buy

• You can also ask Home Loan Capital for recommendations in specific suburbs.

You have three options:

• Sign a Special Power of Attorney while in South Africa, authorizing your South African attorney to sign on your behalf

• Sign documents at the South African Embassy or Consulate (appointment required)

• If in a country that's part of the Hague Convention, sign documents with a Notary Public with an attached Apostille

South African citizens working abroad must maintain a good credit record in South Africa. Home Loan Capital and South African banks will conduct a credit check to review your South African credit history.

If you have no active South African credit record, this will need to be re-established over approximately 6 months, or alternatively, banks will require a deposit of 20% - 30% or more, depending on your profile. If you're unsure about your credit record, you can contact Home Loan Capital for assistance.

If your foreign employment contract is due to expire soon, the banks may request an updated contract.

The VOETSTOOTS clause means the property is sold "as is." It's recommended to hire a local property inspection service to thoroughly check the property before purchase.

A conveyancer is mandatory for transferring property ownership in South Africa. When choosing one:

• Look for experience in dealing with transactions similar to yours

• Consider recommendations from your real estate agent or other professionals

• Ensure they are registered with relevant legal bodies in South Africa

• They must be a South African registered attorney based in South Africa

Yes, Home Loan Capital can provide:

• Free, optional Lightstone property reports about areas

• Information about suburbs

• Details about gated estates

• Reports on specific properties you're considering

You should:

• Ensure your offer reflects the true property value and your financial capability

• Consider hiring an independent & registered property appraiser

• Request Lightstone property reports from Home Loan Capital

• Conduct proper due diligence

• Check with your attorney and estate agent about required compliance certificates

• Consider the VOETSTOOTS clause implications

• View surrounding area / properties and speak to neighbours

A mortgage originator can:

• Assess the likelihood of home loan acceptance for your specific situation

• Help navigate different bank requirements

• Streamline documentation preparation

• Negotiate with multiple South African banks for better interest rates

• Help increase your chances of approval by applying to multiple banks

The process involves:

• The conveyancer handling the legal process to transfer ownership

• Registration of the transfer with the Deeds Office

• Simultaneous registration of the mortgage bond over the property

• Final settlement and handover of keys once transfer and bond registration are complete

It's recommended to:

• Combine property viewing with a general holiday rather than making a trip solely based on pre-qualification

• Consider that viewing trips will be at your own risk if the home loan application isn't approved

No, documents already submitted for pre-qualification are kept and used for your actual home loan application. However, you may need to provide updated documents such as recent bank statements and payslips if significant time has passed.

Banks:

• Evaluate each individual case based on its own merits and circumstances

• Have different rules for different scenarios

• Make the final decision regardless of pre-qualification assessment

• Have varied criteria and offers for South Africans working overseas

Pre-qualification:

• Demonstrates to sellers and real estate agents that you're a serious buyer

• May give you an advantage when making property offers

• Makes real estate agents more likely to invest time showing you suitable properties

• Boosts your confidence during house-hunting and offer-making

• Helps focus your property search within your estimated price range

• Allows you to identify and address potential financial profile issues early

You can:

• Make your offer conditional upon 'Subject to Home Loan Approval'

• Add a second condition 'Subject to Property Viewing by Myself'

• Only proceed with the sale after both conditions are satisfied

• Ensure all attorneys representing you are South African-based

• Get legal representation to review and negotiate offer terms

You should work with:

• An estate agent experienced with overseas buyers

• A South African-based attorney

• A mortgage originator experienced in handling overseas applications

• A property inspector (recommended due to VOETSTOOTS clause)

• A conveyancer registered with relevant South African legal bodies

You can:

• Appoint an attorney through a Special Power of Attorney to sign on your behalf

• Sign documents at a South African Embassy or Consulate

• Use a Notary Public with Apostille if in a Hague Convention member country

You should:

• Get free Lightstone property reports from Home Loan Capital

• Have compliance certificates checked by your attorney

• Strongly consider hiring a property inspection service

• View the surrounding area / homes and speak to / meet neighbours

• Maintain constant communication with your conveyancer, estate agent and mortgage originator

• Ensure all paperwork is processed timely

You should not email any documents until officially starting the pre-qualification/home loan application process. Home Loan Capital will provide you with a list of required documents when the process begins.

Look for:

• Experience in handling applications for South Africans working overseas

• Understanding of unique challenges and requirements

• Ability to assist with document preparation

• Experience in negotiating with multiple South African banks, and motivating your case

• Knowledge of varied bank criteria for overseas applicants

Having a deposit of 10% - 30% can:

• Broaden your options

• Potentially secure better interest rates

• Give you access to a wider range of banks

• Potentially reduce long-term costs

• Enhance your mortgage prospects

We recommend that South Africans working abroad have at least a 10% deposit available before submitting a home loan application.