Example
On a ZAR 1,500,000 home loan, the bond costs will be
as follows:
Conveyance fees – R 7,000.00
Deeds Office fees – R 400.00
Post and petty charges – R 250.00
VAT – R 1,015.00
Initiation fee – R 4,250.00
Total Bond Costs – R 12,915.00
Summary
If you are buying a property for ZAR 2,500,000 and taking out a home loan for ZAR 1, 000, 000 budget around ZAR 140,000 extra in fees on top of the purchase price.
* Please note charges do vary from time to time and some charges are at the discretion of the conveyancer – so always check with your property buyers consultant or attorney and use the above information as a guideline.