Before applying for a housing mortgage, the first step is to complete a credit assessment to gain an understanding of the situation and options. Completing the formal credit assessment takes a couple of minutes but you can also get an estimate of your payment capacity by using the calculator. The next step is to make an appointment at a local branch. We’ll be happy to help you with your loan.

The purpose of a credit assessment is to gauge your ability to service your mortgage once other expenses are considered, such as cost of living, vehicle operation, other loans, etc.

Keep in mind that it may not be advisable to utilise all your estimated payment capacity as calculated in the credit assessment. You want to be able to do more than buy food and pay off your mortgage.

These loans are suitable for borrowers who wish to finance the purchase of a building lot and the construction process.

You need to complete a credit assessment based on the final property that has regard for a construction and cost estimate which you need to submit with your loan application.

The loan amount depends on the cost of construction throughout the loan period and the value of the property at each time based on its real estate value/valuation. The maximum loan is 70% of the estimated construction cost over the construction period, including the lot price (where applicable), yet never higher than the value of the asset at each time. Once construction is completed, the construction loan is converted into a housing mortgage.