Post apartheid South Africa has recorded steady progress in various areas such as health, education, energy, water provision, fight against crime etc. But is important to note that in the midst of that progress, the country still continues to experience persistent and rising inequality in the housing market with many individuals and families who can’t afford to build or purchase decent shelter.This picture is what attracted BMW into this sector.
BMW is a German automobile manufacturer known for elegance, excellence and precision engineering. These same qualities have been used to establish the BMW financial services. Provided under the umbrella of BMW financial services, it’s not surprising that the BMW home loans have become the people’s favourite.
This home loan is flexible and offers competitive options to suit different needs. BMW home loan is designed for customers who want to purchase a new or existing property, switching current home loan facility from another institution, switching current home loan facility from another institution and at the same time registering a higher loan amount, building a new property or even making improvements to current property.
To qualify for this loan, a prospective client needs to be a BMW financial services customer, have a copy of an ID or passport, show proof of income in form of payslip or bank statements, have latest tax certificate. Self employed individuals or company applications must be accompanied by six months bank statements, business financials not older than nine months, statements of assets and liabilities, copy of deed of sale if it’s a new loan and six months home loan statements if switching loan.
Other conditions accompanying this loan include the fact that repayment period can be selected by the customer but should not be less than 5 years and will not exceed 20 years, mortgage finance applied for should exceed R400,000, the value of the financed property should exceed R500,000 and all financed properties should be residential in nature.
To access this home loan, contact can be made on 0861269346.