Blog post summary
- Finance companies generally speaking use very strict standards when looking at household-loan people with no deposit since they’re experienced substantially riskier.
- Common conditions to own zero-deposit borrowers range between a flush credit score, a strong fees history, secure employment and a basic types of and you will location off possible property.
- Guarantor fund are great for consumers that have a normal borrowing from the bank capabilities and you can money, however, lack the method for gather the original deposit.
For most people, to invest in a house belongs to the nice South African dream. But really into large cost-of-living, saving to own in initial deposit can be quite hard.
Indeed, for individuals who fall into these kinds regarding homebuyer, you’re not by yourself. Almost half the software acquired from the ooba come from people with zero entry to a deposit, claims Kay Geldenhuys, Possessions Loans Handling Director at Southern Africa’s premier bond founder. Read the rest of this entry »