The mortgage bond market in South Africa is very well developed. Foreigners, however, face more obstacles than South African citizens when applying for a mortgage bond.
The Power of Attorney to Pass Transfer, Original Title Deed, Transfer Duty Receipt, Rates Clearance Certificate, Levy Clearance Certificate and the Homeowners Association consent.
As many countries have imposed travel restrictions due to COVID-19, many Sellers and Purchasers of immovable property now find themselves abroad during the transfer or bond registration process.
Favourable interest rates during the Covid pandemic has made a significant impact on the affordable housing market.