Looking for a loan against my unbonded property in Meyerton,Gauteng,Sedibeng.

[Blue Saddles]

I need a loan of about R100 000.My property is vakued at R2m

 

[Adrianax]

Try FNB, Absa, Standard or Nedbank

 

[Ecco]

Any bank should be able to help, R100k on a R2mil property, dont see why they wouldnt want to help

 

[hellfire]

I need a loan of about R100 000.My property is vakued at R2m

Is this bridging finance? i.e. you're expecting some cash to come through but need the capital until it does?
Or is this emergency cash for a difficult period?

Either way, you should probably consider an unsecured loan instead.
It may be more costly from an interest rate point of view, but if things go from bad to worse at least you can't (easily) lose your property.

 

[Ecco]

Is this bridging finance? i.e. you're expecting some cash to come through but need the capital until it does?
Or is this emergency cash for a difficult period?

Either way, you should probably consider an unsecured loan instead.
It may be more costly from an interest rate point of view, but if things go from bad to worse at least you can't (easily) lose your property.

Agree with the above - depends on why you need the R100k. That said, R100k bond repayment will be approx R1.1k per month on 20 years

 

[Drifter]

If you repay that over 20 years you are daft.

 

[hellfire]

Agree with the above - depends on why you need the R100k. That said, R100k bond repayment will be approx R1.1k per month on 20 years

But there will be a R6k bank initiation fee, a bunch of lawyer and lodging costs (prob another R5k) - and some time before the bond is registered.
Not to mention all the compliance certificates necessary for a bank to approve the loan.

 

[LazyLion]

My bet is that your property is already bonded. So you are looking for a second bond or unsecured loan.

 

[Ecco]

If you repay that over 20 years you are daft.

Agree, but dont know what his circumstances are.

 

[Ecco]

My bet is that your property is already bonded. So you are looking for a second bond or unsecured loan.

Property is not bonded.