Another thing i would like to know is that if i had to approach a bank with lets say a property i want to buy worth R300 000, would they consider financing me if i had to put down 10k deposit, and the house that i want to purchase as collateral? i would submit a 'business plan' on how i would be able to finance the property? apply for a 30 year loan period - thus reducing my monthly repayments (increasing my interest yes - but i cud manage the cash-flow better and end up paying more than is required. The bank can get its money back if i fail to pay back the loan by selling off the property that i had put down collateral.
I think it was Nedbank or FNB that said they'd give a bond in Berea if it was a block that had good financials. If you came with a good deposit and your surname is not Tannenbaum, then I can't see why not?