Thursday, 27 March 2008

Absa Home Loans: International Mortgages



Finally... Ladies and gentlemen. ABSA home loans have come to the party.

There is hope for people who struggle to invest in the South African Property Market.

Together, Barclays and Absa have designed a proposition making it possible for South African’s wishing to buy property abroad as well as non-South African residents looking to invest in South Africa. Whether non-residents purchase property as holiday homes, or for investment purposes, Absa has a dedicated team of specialist available to assist our customers through the process. When it comes to buying in the UK or in various countries where Barclays has a presence, Absa International Mortgages will initially intercede on behalf of South African customers who wish to make use of Barclays International Mortgage Services to acquire property off-shore.


The product works like a normal home loan, except the loan amounts and conditions are subject to the exchange control policy as set by the government and the Reserve Bank. The amount of capital each SA citizen is allowed to take out of the country is R2-million per person at present. SA citizens can apply for additional exchange control approval to by property in SADC countries.


Our distribution footprint:
We will be extending this offer to countries in which Barclays have a presence, countries include but are not limited to the following as this list will continue to expand as we extend our offer to include countries in which Barclays has a presence:

Kenya, Spain, Dubai
Ghana, Italy, United Arab Emirates
Botswana, Portugal
Mauritius, France
Seychelles, Switzerland


This is an incredibly bold move by ABSA home loans and this offering will open up a whole new business mind set in South Africa. Without having to rely of 50% loans from mortgage originators overseas we can now finance these loans in our own comfort through ABSA Home Loans.


If this is something that gets your toes tingling and you're interested in finding out more about this offer please feel free to contact the http://www.wizardmidrand.com/home-loans/bond-application-form.html

10 comments:

Anonymous said...

can you loan in foreign currency to non south africa's for purchase of property in SA

WizardMan said...

Hi Anonymous,

Firstly thank you for commenting on our BLOG.

Banks will loan money to non South African citizens, but only 50% loans will be provided. Also you will need to open up a south african bank account as a requirement.

Sudipta Das said...

Has anyone every wondered why the government isn't doing anything about the jobs being outsourced? And if former college students are having problems with paying back their loans, why can't the government do anything about these jobs so that these former college students would be able to pay the federal students loan back? So my argument is that if they need this money back to them, why can't they do anything about these jobs?
sudipta das
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