# Home Loans on TRP



## chris_mave (Jun 24, 2016)

Trying to find out if anyone has been successful in getting a home loan without an SA ID. If so with which bank and how much deposit is required.

thanks


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## Oyibopeppeh (Sep 8, 2010)

chris_mave said:


> Trying to find out if anyone has been successful in getting a home loan without an SA ID. If so with which bank and how much deposit is required.
> 
> thanks


It's at the discretion of the bank. I have a credit card with FNB with a limit of 150,000 Rand, no deposit


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## Bwixie (Mar 11, 2014)

chris_mave said:


> Trying to find out if anyone has been successful in getting a home loan without an SA ID. If so with which bank and how much deposit is required.
> 
> thanks


I have friends who recently got a home loan with standard bank, both on work permits, they put down a 25% deposit, interest rate 10%


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## chris_mave (Jun 24, 2016)

Bwixie said:


> I have friends who recently got a home loan with standard bank, both on work permits, they put down a 25% deposit, interest rate 10%



thanks a lot foir this - i will try standard bank. FNB says 50% deposit.


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## zizebra (Mar 11, 2012)

chris_mave said:


> thanks a lot foir this - i will try standard bank. FNB says 50% deposit.


this is the default response you will get from banks. with a bit of luck, really good salary and decent deposit, they might listen to you.
Be very careful with FNB, they robbed me legally when they gave me 90% loan because they managed to put me in a corner after signing off all documents. They started changing conditions left right and center.


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## chris_mave (Jun 24, 2016)

zizebra said:


> this is the default response you will get from banks. with a bit of luck, really good salary and decent deposit, they might listen to you.
> Be very careful with FNB, they robbed me legally when they gave me 90% loan because they managed to put me in a corner after signing off all documents. They started changing conditions left right and center.


Hi,

How did you manage 90%. If you dont mind please share salary range and deposit you had? Was this on a TRP? 
Also what conditions did they change after signing?

Thanks for the info


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## zizebra (Mar 11, 2012)

chris_mave said:


> Hi,
> 
> How did you manage 90%. If you dont mind please share salary range and deposit you had? Was this on a TRP?
> Also what conditions did they change after signing?
> ...


that was after I got PR. Before PR all banks were offering us 50%. FNB initially offered 95% then after signing, they changed their minds and revised it 75%. We had 5% deposit. In the end we raised deposit to 10%.

With regards to salary range, I can tell you that a friend of mine got 80% on TRP his salary was around 70K. Another colleague whose salary was +/- 100k got 100% loan on TRP


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## chris_mave (Jun 24, 2016)

zizebra said:


> that was after I got PR. Before PR all banks were offering us 50%. FNB initially offered 95% then after signing, they changed their minds and revised it 75%. We had 5% deposit. In the end we raised deposit to 10%.
> 
> With regards to salary range, I can tell you that a friend of mine got 80% on TRP his salary was around 70K. Another colleague whose salary was +/- 100k got 100% loan on TRP



Thank you very much for the information. I will respond when i get the banks to give an offer


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## protocols (Mar 13, 2016)

> 95% then after signing, they changed their minds and revised it 75%

how does that work legally?

Yes it is possible to get a loan with TRP, and yes it can be better than 50%, but depends on your salary, the offer to purchase and it might help if you have been banking with them for some year already...


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## oceanracer (Mar 10, 2015)

We did when we arrived 3.5 years ago. Although my wife was a permanent resident I was the bread winner so I had to apply for the loan myself while under a TRP. We first tried mortgage Brokers w/ o success: they all told us we were denied everywhere they tried because of the risk of landing to a foreigner. Then we went to FNB: they asked for a 50% deposit and they offered us prime + 3% to which we objected since they were not taking any risk whatsoever w/ a 50% deposit. their response was that they are not in the business of selling houses; the reason was that in case we were unable to pay the mortgage, they might end up with a house on their hand to sale. We fought them, to get at least prime rate. The answer was Hallo peter! ;-). Within a day of us complaining about FNB's policy re. lending to foreigners under such unfair conditions, FNB contacted us and gave us what we asked for! Also, depending on your income (>~R750k/ yr) you can try private banks such as Investec or RMB, they provide more personal services and will most likely be willing to get your business. I hope this help.


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