Home Loan When One Spouse is Foreign.

T

TheDarkOne

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Randburg
Does anyone have any knowledge on how home finance should work when a South African citizen gets married to a Foreigner. An agent at one of the estate agents informed us that because the SA citizen married a foreigner they are now also treated as a foreigner and need to come up with 50% of the loan amount.
 
does your spouse have a green ID book?

I do, and didn't have to have a 50% deposit.

btw, give SA home loans a call and see what they say.
 
Yes she does have a green ID book. Do you guys know how it would work with my putting my income in the mix. I earn way more than her and with our salaries combined we might get a bigger place than with hers alone. But i'm currently on a spousal visa.
 
TheDarkOne said:
Yes she does have a green ID book. Do you guys know how it would work with my putting my income in the mix. I earn way more than her and with our salaries combined we might get a bigger place than with hers alone. But i'm currently on a spousal visa.
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For damn sure you should throw your salary into the mix.

How else would you have had a joint bond in the first place if you didn't?
 
TheDarkOne said:
Does anyone have any knowledge on how home finance should work when a South African citizen gets married to a Foreigner. An agent at one of the estate agents informed us that because the SA citizen married a foreigner they are now also treated as a foreigner and need to come up with 50% of the loan amount.
Click to expand...

Tell that agent that they're retarded and should try not give advice on subjects they don't know about.
 
She just left Absa at Clearwater mall. Apparently it was confirmed that by virtue of being married to a foreigner in Community of Property we require 50% upfront. Sigh.
 
My American wife has a green ID book and permanent residence.
We are married in CoP.
We didn't have to do anything unusual for our home loan application other than both sign together.
 
You need to treat it as a joint application (for CoP it is by law).
Then you need to calculate on both salaries and sign together.
The Bond will be registered in both your names.
 
Garyvdh said:
My American wife has a green ID book and permanent residence.
We are married in CoP.
We didn't have to do anything unusual for our home loan application other than both sign together.
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I've only got the PR… I am not a number… I am a free man!
 
Ask Zuma for a free house or to share his firepool.
 
I too will be in this same boat with the SO being British. We're looking at buy a house soon here and I hope that this is not the case!
 
I just heard the same news. I am married to a foreigner and our application will be treated as a foreign application - therefore we need 50% deposit. Can 2020 get any worse!
 
TheDarkOne said:
Does anyone have any knowledge on how home finance should work when a South African citizen gets married to a Foreigner. An agent at one of the estate agents informed us that because the SA citizen married a foreigner they are now also treated as a foreigner and need to come up with 50% of the loan amount.
Click to expand...

Thats is spot on... the 50% rule. I know by heart thats how Fnb also deals with Foreigners.

Think alot of people dont know commitment and run back home.

So, sorry to say, but its true
 
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