| Cost |
Description |
Calculation |
How is it paid? |
| Deposit |
An amount that you have available to put towards buying your property. |
Loan amount x % deposit required. |
To the seller's transferring attorney. |
| Bond cost |
This is charged by the attorney for registering the mortgage bond. |
Calculated on total loan amount registered OR further advance amount. Total bond cost = conveyancing fee + VAT. |
Payment is to the registering attorney before registration - or the costs may be debited to the home loan account on registration subject to approval. |
| Transfer fee |
This is charged by the attorney for transferring the property into the purchaser's name. |
From 1 March 2006, transfer duty will be payable as follows:
Up to R500 000
No duty is payable
From R500 001 to R1000 000
Duty is calculated at 5% on the value above R500 000
From R1000 001 upwards
Duty is calculated at 8% on the value above R1000 001 plus R25 000 |
Paid to the transferring attorney. |
Security assessment fee:
Assessed Value
less than R500 000 |
This is the charge levied by the bank for conducting an assessment of the property. |
0,2 % of assessed value + VAT (min R114, max R969 incl. VAT). |
Debited to the home loan account. |
Security assessment fee:
Assessed Value
greater than R500 000 |
|
R1 500 (VAT incl.) |
|
Security assessment fee:
Building loans where Assessed Value is less than R500 000 |
|
0,5% of assessed value + VAT (min R285, max R1 425 incl VAT) |
|
Security assessment fee:
Building loans where Assessed Value is greater than R500 000 |
|
R 3000 (VAT incl.) |
|
| Home loan initiation fee where loan amount is less than or equal to R500 000 |
This is a once-off fee levied by us for initiating the new home loan account. |
R199 incl. VAT. |
Debited to the home loan account. |
| Home loan initiation fee where loan amount is greater than R500 000 |
|
R1 250 (VAT incl.) |
|
| Deeds Office registration fees |
Charged by the Deeds Office for registering the title deeds and mortgage bond. |
For transactions registered from 1 November 2004.
To register title deeds:
Up to R80 000: R55.
R80 001 - R150 000: R200 per registration.
R150 001 - R300 000: R260 per registration.
R300 001 - R500 000: R340 per registration.
R500 001 - R1 000 000: R400 per registration.
R1 000 001 - R2 000 000: R500 per registration.
R2 000 001 - R3 000 000: R650 per registration.
R3 000 001 - R5 000 000: R800 per registration.
Over R5 000 000: R1 000 per registration.
To register mortgage bonds:
Up to R150 000: R200 per registration.
R150 001 - R300 000: R260 per registration.
R300 001 - R500 000: R340 per registration.
R500 001 - R1 000 000: R400 per registration.
R1 000 001 - R2 000 000: R500 per registration.
R2 000 001 - R3 000 000: R650 per registration.
R3 000 001 - R5 000 000: R800 per registration.
Over R5 000 000: R1 000 per registration. |
To register title deeds: Buyer to pay transferring attorney.
To register mortgage bonds: Buyer to pay registering attorney. |
Newsletter:
5 February to 12 February 2010 - Focus on Lydenburg, Mpumalanga, South Africa
