| Expense | Description | Typical amount |
|---|---|---|
| Purchase price deposit |
50% or purchase price of the property price is required as deposit. 50% deposit must originate from foreign funds transferred to South Africa from abroad. Proof of this is required and has to be submitted with the Exchange Control application referred to in the next point. |
Varies according to property value |
| Registration costs | A fee that is paid by you to the attorney | View the rates . |
| Transferring costs | A fee that is paid to the attorney nominated by the seller to transfer ownership of the property | This fee also varies and is based on the purchase price of the property |
| Postage and sundries | The cost of documents and certificates that the conveyancing attorney will need to submit to the Deeds Office, the bank, the estate agent and you | Minimum R300 |
| Deeds Office registry fee | A fixed fee for the local registration of the loan | Estimated cost between R70 and R3 000. |
| Transfer duty | This is a government tax, which you will need to pay based on the purchase price. | View the rates . |
| Initiation fee | A fee charged by FNB to process your building loan application | Refer to Annual Pricing Guide |
| Non-resident fee | Exchange control approval is required to grant the loan. The fee is for submitting the application |
Natural persons: R1 470 Juristic entities: R1 850 |
| Service fee |
A monthly administration fee will be charged on all new registered loans. Please note that the monthly service fee applicable to your home loan will be charged irrespective of the balance outstanding and will only cease when the bond Is cancelled. |
Refer to Annual Pricing Guide |
| Existing bond cancellation fee | A cancellation fee, if applicable, will be charged by the attorney to cancel your bond in the Deeds Office | It varies by attorney |
| Early termination fees | An early termination fee is charged when a home loan is cancelled without giving 90 days notice. | Waived |
| Interest rates | Fixed and Variable rate options are available. An application must be submitted for a Fixed Rate. |
A monthly service fee will be charged on all new registered loans. See Pricing Guide for details.
Other costs to consider
