Whichever lender you employ to, there's specific documentation you'll need. Including evidence of your identity (unless you're a foreigner, you may need your little green South African individuality publication), a marriage certificate if you're married, a divorce decree if you're divorced, and evidence of everything you make. You may get the personal loans in south africa to fulfill your needs.
If you're employed, all you'll need is the most recent pay slip or a certified letter from the employer stating how much you make every month. But if you're self-explanatory, the lender may wish to see at least six months' bank statements. The legislation also requires that banks acquire proof of home, which means you need to establish where you reside.
It's crucial to work out just how much you can afford to spend on a home. Each of the banks have advisers who can assist you to perform these calculations in case you are not certain the way to do yourself. Essentially what they do would be to subtract the whole amount you spend every month on which you get.
Anything that is left is known as disposable income, which is money you can use to pay back the loan. Generally, the banks may even use a rule of thumb which permits borrowers to operate on at the most 30 percent of whatever they make.
In addition, they generally work on the joint income of married couples. But you have to keep in mind that unless you decide on a set rate of interest, there's always a chance that the interest might raise at a subsequent period, which may have the impact of raising your monthly repayment plan.