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"Living in London and trying to handle the administration of raising a bond in South Africa was almost impossible. I was recommended Cape & Country and never looked back. They managed everything on my behalf. All I had to do was sign the papers." “The consultants at Cape & Country are professional and highly informed. It was clear they knew more about exchange control regulation and residency issues than the official channels." “We would have ended up paying substantially more interest on our bond if I had not gone with Cape & Country to manage the process. Our old bank in South Africa was offering us a deal 0.5% more expensive than the deal we ended up taking.” “I had no idea of the complexities of financing property in South Africa when you are a non-resident. I was told four different things by four different lenders about how much I could borrow locally. Luckily, I then contacted Cape & Country and they clearly explained regulatory issues and were able to secure me a bond of 75% of the purchase value of my house. They also handled the currency exchange for the balance.” Recent Deals secured by Cape & CountryExample One We finalised a mortgage of R1.5 million at Prime -2%. Even though Mr Roberts is based out of the country, we secured a 100% loan to value mortgage for the client and arranged a power of attorney for his sister to sign all the legal documents in South Africa. Example Two We secured a 50% mortgage for him for R1 600 000 at Prime -2%. 50% is the maximum for Foreigners, as this is a Reserve Bank ruling. All legal documents were courier express mail to client for signature in the UK. |
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