What are the lending criteria for non-residents?

Non-residents purchasing property in SA and requiring financial assistance are subject to all normal lending criteria and in addition to that the following Reserve Bank rules must be met:

Specific Requirements for Non-resident:

  • The loan amount may not exceed 50% of the purchase price of the property. (The Reserve Bank rule is that for every rand you bring into the country, they will lend you a rand!)
  • The buyer must obtain consent from the Reserve Bank prior to the transaction being finalised. The application to the Reserve Bank can only be handled by an appointed dealer which includes the commercial banks.
  • Proof must be provided that the funds for the deposit emanate from the country of origin, which can be done by the attorneys involved in the property transfer.
  • A statement of foreign assets & liabilities must be made available.

Contact one of our specialist consultants if you need more information on 0860 2 4 6 8 10.

If you're dialling from outside of South Africa, please dial +27 31 576 5858.