Most property purchases in South Africa are financed through a home loan (bond). Understanding approval helps you plan Offer to Purchase timelines for Midlands deals.

Pre-qualification

Before house hunting, get pre-qualified through a bond originator. This estimates your maximum loan and repayment.

Application

Once you sign an OTP, your originator can submit to multiple banks to compare rate and terms.

Approval timeline

Bond approval typically takes 5–10 working days when documents are complete. Your OTP should include a suspensive condition allowing enough time.

What banks assess

• Income and employment stability
• Credit record
• Existing debt
• Property valuation
• Deposit amount

After grant, the bond attorney registers the loan with transfer — see bond registration.