Who are SA Home Loans?

SA Home Loans is a specialist mortgage provider using safe and secure, but innovative new ways to offer a range of home loans to South Africans. Banks get their funding for home loan finance from wholesale and retail money and capital markets and lend the money to consumers.

SA Home Loans is a specialist mortgage provider which uses an established and accepted means of funding in other markets all over the world. Your security is the same as with a bank, as your home is registered in your name at the Deeds Office.

We are not a mortgage originator who operates in a similar manner to an insurance broker. Mortgage originators get home loan offers from various financial institutions on your behalf. The financial institutions pay the mortgage originators a fee for finding them new clients. This is not what we do. We are the financial institution that provides you with the home loan directly, and services you as our valued client thereafter.

For more information about SA Home Loans please visit our website or call us on 0860 2 4 6 8 10.

How does SA Home Loans operate?

SA Home Loans offers a fresh alternative to South African homeowners. We’re mortgage specialists who are 100% focussed on offering your innovative home financing that stays in tune with your lifestyle and your changing needs, for life. We take the time to find out your needs, we come to you, and we work with you to find the right product options for your unique needs. Plus, we offer related home products such as homeowner’s cover and bond protection cover. In a nutshell, we’re risk free, innovative mortgage specialists.

What financing options does SA Home Loans provide?

In addition to providing home financing for new purchases, we also specialise in “switching”. What is switching?

When you already own a property and have a home loan and wish to switch your home loan to another provider to put yourself in a better position financially. This could be because you get a better rate, but there are lots of other considerations too. You may switch to get better access to the equity in your mortgage or to take advantage of product features that reduce your risk, or you could be looking for better service and support from your home loan provider.

For more information about SA Home Loans and the home financing options that are available to you, please visit our website.

What is a Sale in Execution or "Sheriff's Auction"?

A sale in execution is a public auction of a bonded property by the Sheriff of the Court. A sale in execution is usually the last step that is taken when clients are unable to service home loan repayments; the home loan is in arrears, and all other efforts at rehabilitating the loan has failed. In addition to being listed on Private Property, properties sold in this manner must also be advertised in the Government Gazette and two local newspapers.

A sale in execution happens at a specified date and time at the property in question. The sheriff will describe the property, note the conditions of sale, and start the bidding process. Interested buyers bid against each other until the highest bid is achieved. Once the bidding has stopped, the sale in concluded at the fall of the sheriff’s hammer. As SA Home Loans is not the legal owner of the property it cannot decline the final bid price, even if the property is sold for lower than the outstanding balance on the loan.

The conditions of sale mentioned above will cover items such as deposit due, when guarantees for the balance of the purchase price must be provided, commission payable to the sheriff, that the buyer is responsible for occupation; it may stipulate that the buyer is also responsible for any outstanding levies, rates, taxes; and various other conditions that may also be applicable.