Use these resources to help you make the right choice when buying or selling

Calculators

Use the below calculators for an estimate on how much you will have to pay each month. *calculated figures are estimates only and not final repayment costs.

Bond Repayment Calculator

Bond Affordability Calculator

When buying a property, there are additional costs that you have to take into consideration beforehand.

The Deposit

The bank has the right to ask you to pay a deposit. The bigger the deposit the smaller the home loan you will have to take and the less interest you will have to pay.

Transfer Fee

A lawyer prepares the document to transfer the title deed for the property from the seller’s name to your name. As the buyer of the property, you pay the transfer fees upfront. These are calculated on the buying price. No transfer duty is payable for loans up to R600 000, but the transferring attorney’s fee will still apply. The transferring attorney will advise you of the amount that you will need to pay. These fees must be paid before registration and banks no longer include it in the bond. You do not need to pay transfer fees if you are buying a property in a new development (off-plan) or if you are applying for a loan to build a new house.

Bond registration fees

The lawyer appointed by the bank, called a conveyancer, will prepare the bond registration documents so that the bond is registered in your name. They will send these documents to the Deeds Office where ownership details of every single property in that area are filed. The charge for this is called a bond registration fee. You (the buyer) are responsible for bond registration fees before registration, and it’s also not allowed to be included in your bond.

Initiation Fee

This is the charge to prepare the documents and process your loan application. The bank normally notes it in the quotation letter they’ll send you once your application has been approved. It’s a few thousand Rand which gets loaded onto your bond.