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Offer to Purchase 1st and Second Page , last page with signatures
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents
Full offer to purchase, To be signed by all
parties
To be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed application
state guarantee to be provided, amount of the
guarantee to be equal to the loan amount to a
max of 125%.
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Copy of Id/s By all applicants By all applicants By all applicants By all applicants
Assets and Liabilities
state guarantee to be provided, amount of the
guarantee to be equal to the loan amount to a
max of 125%.
Signed and dated To be completed, part of application form To be completed, part of application form
Income and ExpenditureTo be completed signed and dated, salary
deductions must be annotated
To be completed signed and dated, salary
deductions must be annotatedTo be completed, part of the application form To be completed, part of application form
Bank statements
Latest 3 Months'. At least 1 month's
authenticated B/Stats (stamped ) With address
noted, if internet statements, the name and
account number, and stamped.
Not a pre-requisite , but FNB could call for them
if they need to.
latest 3 months, internet statements acceptable
as well
Latest 3 Months, over the counter or post but
must be stamped by the relevant bank( Non
Internet)
Unbonded Properties - Title deedThis will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
Age Limit 75 YearsNot older than 65 Years, and bond must be paid
up by the age of 75 Years65 Years 65 Years
Bonds to be registered in Name of a Company Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK3
Proof of income
Fixed monthly incomeLatest Payslip -Not older than 60 days from the
date of applicationLatest Payslip Latest Payslip Latest Payslip
Weekly payments Latest 4 weekly Payslips -Not older than 60 days Latest 4 weekly Payslips Latest 4 weekly Payslips Latest 4 weekly Payslips
Fortnightly PayersLatest 2 consecutive Payslips -Not older than 60
daysLatest 2 consecutive Payslips Latest 2 consecutive Payslips Latest 2 consecutive Payslips
Variable/ Commission EarnersLatest 6 Months' consecutive payslips - Not older
than 60 days.
Latest 6 Months' Consecutive Payslips. 50% of
average commission used for qualifying
applicant/s
6 Months Average used. Supported by salary
slips, 100% off average used.
Latest 6 Months' Consecutive Payslips. 50% of
average commission used for qualifying applicant
Employment Contract
Acceptable Proof if Income Provided that a
detailed breakdown of income and salary
deductions is supplied
Not acceptable, client must provide first
month's salary slip.
Acceptable Proof if Income Provided that a
detailed breakdown of income and salary
deductions is supplied
Acceptable Proof if Income Provided that a
detailed breakdown of income and salary
deductions is supplied
Handwritten Payslips Domestic workers / gardeners Not considered Not considered Not considered
IRP 5 May be called for at Credit's discretion May be called for at Credit's discretion May be called for at Credit's discretion May be called for at Credit's discretion
Cash Deposits not considered Not considered Not considered Not considered
Additional income
Rental income
Properties bonded with SBSA - full rental
income. Properties not bonded with SBSA - Net
income. Valid Lease Agreement and Rental
Schedule (date purchased , purchase price,
valuation , bonded at ? Bank, rental income,
repayment, net income, only the surplus will be
used as extra income.
The rental income must be from a FNB bonded
property or unbonded property, complete lease
agreements, and schedules, maximum of 50%
used as rental income.
12 Month Rental Agreement. In first 6 months
period only 50% used, in second part of 6
months 100%. proof of the rental income being
received on monthly basis for the past 3
months and 100% of the total rental income
amount declared will be used
Copy of Rental agreement - to be fully completed
& signed ( 40% of the rental income will be
considered), and should reflect on bank
statements for 3 months
Maintenance
A Divorce Court Order and 3 months b/stats
reflecting amount received, or garnishing order
reflecting on salary slip.
Do not use maintenance.
A Divorce Court Order and 3 months b/stats
reflecting amount received, or garnishing order
reflecting on salary slip.
A Divorce Court Order and 3 months b/stats
reflecting amount received, or garnishing order
reflecting on salary slip.
Interest on Investments
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months b/stats
and letter from Company confirming the
Investment
Income earning on Annuity/Pension
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months
b/stats and letter from Company confirming the
Investment
Acceptable , to be supported by 3 months b/stats
and letter from Company confirming the
Investment
Cost to company packages
65% to be applied to qualify the client, which
ever the higest,breakdown of income and
deduction letter to be supplied as well
100% may be used and will be assessed as per
Credit's discretion
100% may be used and will be assessed as per
Credit's discretion, breakdown on income and
deductions supplied
100% may be used and will be assessed as per
Credit's discretion, breakdown on income and
deductions supplied
Switch Statements 12 months statements required.
6 months latest Home loan statements.,
permission to be obtained beforehand, and
permission to switch form.
6 months latest Home loan statements.
Homebase
6 months latest Home loan statements.,
permission to be obtained beforehand, and
permission to switch form.
Housing allowanceHousing allowance as per payslips. If it is variable
, 6 month payslips
If reflected on salary advice , amount as per the
salary advice to be used
Letter from Employer confirming Gross figure.
Calc: Subsidy amount X 100% added to
applicant's income and 25% of subsidy amount
added to Tax reduction. If reflected on salary
slip , info per salary slip to be used.
If reflected on salary advice , amount as per the
salary advice to be used
Housing subsidy( accompanied by state
guarantee)
State guarantee to be provided, amount of the
guarantee to be equal to the loan amount to a
max of 125%.
Do not use this as income.State guarantee to be provided see maximum
loan amount of letter.Do not use this as income
Annual Bonus/Incentives/ shares and dividends/
profit sharingNo income will be used No income will be used No income will be used No income will be used
Last Updated :29 November 2010
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Private Individuals/ Salary Earners
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Offer to Purchase Non -Absa Self Employed Clients Existing Absa Self-Employed Clients
Offer to Purchase 1st and second Page and signed pages.
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents
To be signed by all parties To be signed by all partiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed applicationFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Copy of Id/s All members/directors/ Trustees copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants copy of id's off all applicants
CK/ CM Docs To be provided To be provided To be provided To be provided To be provided
Assets and LiabilitiesYes, All members/directors/ to be provided, and
of the company/CC signed and dated.
Yes, All members/directors/ to be provided, and
of the company/CC signed and dated.
Yes, All members/directors/ to be provided, and
of the company/CC signed and dated.
Yes, All members/directors/ to be provided, and
of the company/CC signed and dated.
Yes, All members/directors/ to be provided, and
of the company/CC signed and dated.
Income and ExpenditureYes, All members/directors/ to be provided,
signed and dated.
Yes, All members/directors/ to be provided,
signed and dated.
Yes, All members/directors/ to be provided,
signed and dated.
Yes, All members/directors/ to be provided,
signed and dated.
Yes, All members/directors/ to be provided,
signed and dated.
Personal Bank Statement 6 months for each member / director / trustee Latest 12 monthsLatest 6 months consecutive and up to date
statements. Stamped, no internet
Business Bank statements
Latest 6 Months'. At least 1 month's
authenticated B/Stats (stamped ) With address
noted
Latest 12 monthsLatest 6 months consecutive and up to date
statements, stamped not internet.
Bonds to be registered in a trustCopy of Trust deed and Letter of Authority
specifying that they may obtain finance
Copy of Trust deed and Letter of Authority
specifying that they may obtain finance
Copy of Trust deed and Letter of Authority
specifying that they may obtain finance
Copy of Trust deed and Letter of Authority
specifying that they may obtain finance
Copy of Trust deed and Letter of Authority
specifying that they may obtain finance
Bonds to be registered in Name of a Company/CC Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK2 Copy of Memos & Articles / CM29 / CK1 or CK3 Copy of Memos & Articles / CM29 / CK1 or CK4
Unbonded Properties - Title deedThis will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
Proof of income
Letter from Registered Accountant/Auditor, Personal
incomeNo a pre-requisite. No a pre-requisite.
" I hereby confirm that ( the applicant ) received
a monthly / annual / drawings of R" signed by
applicant & Book keeper with a Practice number
" I hereby confirm that ( the applicant ) received
a monthly / annual / drawings of R" signed by
applicant & Book keeper with a Practice number
Letter of Income (with no reservations)
Financial Statements
Latest 2 years' comparable business audited
signed and dated financials, not older than 12
months.
Latest 3 Years not older than 6 months. No draft
Financials will be accepted. Signed and dated.
Latest 3 Years not older than 6 months. No draft
Financials will be accepted. Signed and dated.
Year on Year Business financials covering at
least 2 years , the latest reporting period not
being older than 6 months. No draft Financial
statements.
2 Years Signed (by an accredited Accountant/
Financial Officer/Auditor and signed by the
client) Comparable and up to date year end
Financials not older than 6 months
Management Accounts
When signed latest Financials are not available
provide latest set of management accounts
together with previous year's audited financials
If Latest Financials older than 6 months , up to
date management accounts signed by an
Auditor /Book keeper & applicant/s
If Latest Financials older than 6 months ,
management accounts not older than 2 months
signed by an Auditor /Book keeper &
applicant/s
If latest Financials older than 6 months ,
management accounts not older than 2 months
, signed by the applicant/Bookkeeper
If Latest Financials older than 6 months ,
management accounts up to date.
SARS IT34 May be called for at Credit's discretion May be called for at Credit's discretion
Alternative to Financial statements :The income
on the applicant's past 3 years certified copies
can be verified against the turnover on the
customer's account
Alternative to Financial statements :The income
on the applicant's past 3 years certified copies
can be verified against the turnover on the
customer's account
May be called for at Credit's discretion
Cash flow Forecast Not a pre-requisite , but may be required Not a pre-requisite , but may be requiredDetails for the next 12 months , supported by
relevant docs e.g. contractsNot a pre-requisite , but may be required May be requested
Declaration for Self-employed Clients n/aRefer to FNB Declaration that needs to be sent
with application formn/a n/a n/a
Additional income
Depreciation May not add back depreciation to net Profit Refer to cash flow calculator. May not add back depreciation to net Profit May not add back depreciation to net Profit May not add back depreciation to net Profit
Net Profit May not be used as income Refer to cash flow calculator. May not be used as income May not be used as income May not be used as income
Last Updated :29 November 2010
Self- Employed Clients
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Not a pre-requisite, credit could call on this
additionally.
If Personal and Business B/stats at ABSA ,
statements will be drawn from Internal Records
Place your logo here
Offer to Purchase 1st Page
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents commission.
To be signed by all PartiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed ApplicationFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s. Together
with Exchange Control approval.
Copy of Passport yes yes yes yes
Bank Statements6 months bank statements where income is paid
into
6 months bank statements where income is paid
into
6 months bank statements where income is
paid into6 months transactional Nedbank statements
Employment Contract Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract Terms
& Conditions
Copy of Residence permit Permit number , expiry date for RSAPermit number , expiry date for RSA, remaining
terms may not be less than 3 Years.Permit number , expiry date for RSA Permit number , expiry date for RSA
Work Permit
Permit number , Expiry date for RSA, Employer
details, this must correspond with employment
contract.
Permit number , Expiry date for RSA, Employer
details, this must correspond with employment
contract. May not be less than 3 Years.
Permit number , Expiry date for RSA, Employer
details, this must correspond with employment
contract.
Permit number , Expiry date for RSA, Employer
details, this must correspond with employment
contract.
Proof on Income Yes Yes Yes Yes
Last Updated :29 November 2010
Place your logo here
Offer to Purchase 1st Page
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents commission.
To be signed by all PartiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed ApplicationFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s together with
Exchange Control approval.
Copy of Passport yes yes yes yes
Bank Statements 6 months' Bank statements 6 months' Bank statements 6 months' Bank statements
(6 months) Transactional Nedbank statements or
bank report from client's overseas bank (If client
doesn`t have a Nedbank transactional account)
Employment Contract Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract Terms
& Conditions
Proof of 50% deposit held as per Exchange Control regulation as per Exchange Control regulation as per Exchange Control regulation as per Exchange Control regulation
Proof on Income Yes Yes Yes Yes
Last Updated :29 November 2010
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Offer to Purchase 1st Page Do not finance Refugees To be signed by all PartiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed Application Do not finance RefugeesFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Copy of Maroon ID Do not finance Refugees
Bank Statements 6 months' Bank statements Do not finance Refugees 6 months' Bank statements 6 months' Bank statements
Employment Contract Stating Employer details , Income , Contract
Terms & ConditionsDo not finance Refugees
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract Terms
& Conditions
Refugee status valid for 2 years Do not finance Refugees valid for 2 years valid for 2 years
Proof on Income Yes Yes Yes Yes
Last Updated :29 November 2010
Refugees (received asylum)
Refer to Private Individuals and Self-Employed Client's for Income Criteria
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Temporary Resident (Non SA Id living/working in SA)
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Refer to Private Individuals and Self-Employed Client's for Income Criteria
Non Resident(non SA Id, living abroad)
Refer to Private Individuals and Self-Employed Client's for Income Criteria
Place your logo here
Offer to Purchase 1st Page
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents commission.
To be signed by all partiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed ApplicationFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Copy of ID /Passport yes yes yes yes
Bank Statements6 months' Bank statements reflecting stated
income
6 months' Bank statements reflecting stated
income
6 months' Bank statements reflecting stated
income
6 months' Bank statements reflecting stated
income
Unbonded Properties - Title DeedThis will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title
deed to be provided
This will be seen as a NEW LOAN copy of title deed
to be provided
Employment Contract Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract
Terms & Conditions
Stating Employer details , Income , Contract Terms
& Conditions
Copy of Residence permit Permit number , expiry date for Foreign CountryPermit number , expiry date for Foreign Country
and may not be less than 3 years.Permit number , expiry date for Foreign Country Permit number , expiry date for Foreign Country
Work Permit Permit number , expiry date for Foreign CountryPermit number , expiry date for Foreign Country
and may not be less than 3 years.Permit number , expiry date for Foreign Country Permit number , expiry date for Foreign Country
Income and Expenses For South Africa and foreign country declared in
applicable currencies.
For South Africa and foreign country declared in
applicable currencies.
For South Africa and foreign country declared in
applicable currencies.
For South Africa and foreign country declared in
applicable currencies.
Proof on Income Yes Yes Yes Yes
Last Updated :29 November 2010
SA Citizens Working Abroad
Refer to Private Individuals and Self-Employed Client's for Income Criteria
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Place your logo here
Offer to Purchase 1st Page
Must be signed , dated and include all details of
Seller and Purchaser , Property descriptions ,
Estate agents commission.
To be signed by all partiesTo be fully completed and signed by all Parties
involved - Seller & Purchaser
Completed ApplicationFully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Fully completed and dated , where possible it
should be signed by the applicant/s
Copy of ID yes yes yes yes
Building contract & Schedule of FinishesFully completed & Signed contract(specified list
of costs)
Fully completed & Signed contract(specified list
of costs)
Fully completed & Signed contract(specified list
of costs)
Fully completed & Signed contract(specified list of
costs)
Copy of Building PlansYes , with measurements and sized, approved
plans prior to registration only.
Yes , with measurements and sized, approved
plans prior to registration only.Approved Building plan with application. Approved Building plan with application.
NHBRC Registration (Builder) Yes Yes Yes Yes
NHBRC Builders Enrolment Certificate( Property) Yes, prior to registration only Yes, prior to registration only Yes, prior to registration only Yes, prior to registration only
Site Layout PlanIf purchasing within a development ( Full title
stand)
If purchasing within a development ( Full title
stand)
If purchasing within a development ( Full title
stand)
If purchasing within a development ( Full title
stand)
Proof of income
Employed & Self-employed Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria Refer to Individual and /self-employed Criteria
Last Updated :29 November 2010
Building Loans Supporting Documents
DISCLAIMER: Although every effort has been made to ensure the accuracy of the content of this matrix, The Better Group and is subsidiaries accepts no liability in respect of any errors and omissions contained herein
Place your logo here
ABSA
Initiation Fee Ordinary loan / Base rate of R991 + 0.35% of loan amount (with a max of R4842+ VAT)
Offer to Purchase Further loans / Further advances* Base rate of R930 + 0.35% of loan amount (with a max of R4842+ VAT)
Building loan / Further loans / Further advances * Flat fee R 4842 + VAT
* * * Only applicable on the advance portion
Monthly Service Fee Client using Absa HOC R 28.50
Client using other HOC R 45.60
Affordable housing with Absa HOC R 13.68
Affordable housing with other HOC R 22.80
FNB
Initiation Fee New and further loans R5700.00
Building loans R5700.00
Monthly admin fee Irrespective of loan amount R52.00
NEDBANK
Service Fee Pre NCA customers with a bond <R500 000 R 5.70
Pre NCA customers with a bond of > R500 000 R 39.90
New customers and Post NCA customers with Nedbank internal HOC R 39.90
New customers and Post NCA customers with Nedbank external HOC R 57.00
STANDARD BANK
Initiation fee Non-affordable housing R1000 + 0.70% of loan amount (with a max of R5700)
Building loansR5700 flat fee. ** A risk rate premium of 1.5% will be added to all Building Loans for the
entire term of the building loan. Once the product converts to an ordinary home loan, the risk
rating defaults automatically **
Service fee Client using Standard bank HOC R 45.00
Client using other HOC & NCA Safe custody account R 57.00
*** Further loans at Standard bank where the first bond was concluded prior to NCA will
attract the above mentioned initiation fee ***
Last Updated :29 November 2010
Consolidated Bank Fees Structure - in Accordance with NCA
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