Building loans will not be granted on
Expense | Description | Amount |
---|---|---|
Purchase price deposit | This is a payment made to secure the property. The amount will be stated in the Offer to Purchase contract | Amount varies according to property value |
Architect | Their fee to design, draw and submit the plans to the local council for approval | Architects fees will vary according to the company chosen and design of plans |
Builder or contractor | The builder will provide you with a contract price which will include building costs, materials, etc. | This will also vary according to the design, structure and finishes used. |
Industry professionals | These professionals may include the use of a quantity surveyor, structural engineer etc. | Again, depending on the professional chosen, their fees will vary |
Transferring costs | A fee that is paid to the attorney nominated by the seller to transfer ownership of the property | Amount varies as per the legal conveyancing fees schedule |
Transfer duty and VAT | This is a government tax, which you will need to pay based on the purchase price or the open market value of the property, whichever is higher. In property sales, either transfer duty or VAT will be applicable depending on whether the seller's line of business is property trading . Transfer duty is not applicable in respect of Tribal land however the transaction may attract VAT, depending on the type of seller. | Amount varies as per the legal conveyancing fees schedule |
Let us help you through the entire process of building your dream home. We've made it easier for you to build a new home or make improvements to your existing one.
Build your dream home to your own specifications
Buy a house in selected new residential developments with a choice of design, price and finishes that will suit your needs (excluding Sectional Title units)
Build, alter, redecorate and increase the value of your property
Payout on progress payments controlled by FNB, as per your instruction
Interest is charged on the outstanding balance and not the total loan amount
Get to know the building loan's rules and regulations. We are here to guide you through the entire process of applying for a building loan, and that includes understanding the exclusions and specific loan limits.
Expense | Description | Amount |
---|---|---|
Purchase price deposit | This is a payment made to secure the property. The amount will be stated in the Offer to Purchase contract | Amount varies according to property value |
Architect | Their fee to design, draw and submit the plans to the local council for approval | Architects fees will vary according to the company chosen and design of plans |
Builder or contractor | The builder will provide you with a contract price which will include building costs, materials, etc. | This will also vary according to the design, structure and finishes used |