Have you ever wondered if you can get a loan for construction in South africa? or how you can simply get a loan to build in south africa when you’re blacklisted.
This has always been the thought of many people who want to own their own home but can’t afford to buy building materials because they don’t have enough funds but still can’t get a loan because they are blacklisted.
Well, today in just five minutes, we’ll be discussing the 5 best places to get a building material loan for blacklisted people in South Africa and get your own dream house.
But before then, let’s understand what is meant by loan for building materials that blacklisted clients can apply to now in 2022 and beyond.
What is building material loan for blacklisted
Building materials loans for blacklisted are the type of loans that a lender would grant to you if you’re trying to build your house but need a loan urgently.
Mostly, you’re likely not to gain approval on some other traditional loan lenders, but these lenders would grant you home loans even if you’re under debt review, have a bad credit or blacklisted.
Below are the 5 best loans for people who are blacklisted and would want to gain funds to complete their home building.
5 Lenders that offers building material loan same day approval for blacklisted
1. LoansFind blacklisted home loans
2. Capitec home loans for blacklisted
3. Building material loan at Cashbuild
4. Nedbank building material loan
5. BuildIt Home loans
Below is an overview of these loan platforms. I’ll be analysing how you can successfully get building loans from them when you’re blacklisted.
An overview for the best building material loan for blacklisted clients in south africa
LoansFind blacklisted home loans [LoansFind.co.za]
With loansFind, you can easily get loans as fast as possible. They are not a direct loan lender, they process your loan request and send it to their associates who are always willing to grant people who are blacklisted.
Through this medium, you’ll have the opportunity to choose from a diverse range of lenders. You can decide to filter out lenders whose loan interest rates are high.
This would also make your loan approval process fast. Because ,any lenders would be willing to grant you loans as far as you can afford to pay back in due time.
What documents are required for a building material loan on LoansFind.
When you apply for a building material loan, your lender will request that you upload some documents and these include;
- your South African ID
- proof of address
- proof of income
- 3 month’s payslips
- 3 month’s bank statements
- your South African driver’s license.
Capitec home loans for blacklisted [capitecbank.co.za]
If you want to buy your first home or refinance your current mortgage, capitec home loans may be able to help. Based on your personal profile, you may be eligible for a lower interest rate and up to 50% off bond fees.
Although there are some certain requirements that you must meet before you’ll be able to access building material loans from capitec.
You can email these documents to Info@capitechomeloans.co.za once you’ve applied for your home loan and received a reference number. These requirements includes
- You must be permanently employed
- Latest 3 months’ salary slips
- Latest stamped 3 months’ personal bank statements
- Copy of SA ID document
- Copy of marriage certificate or antenuptial contract (ANC) (if applicable)
- Copy of the signed offer to purchase agreement and many other recommended documents.
Building material loan at Cashbuild
Cashbuild is the largest retailer of building materials and associated products, selling directly to cash-paying customers through its 319 stores in South Africa, Namibia, Lesotho, Botswana, Swaziland, Malawi and Zambia.
To apply for cashbuild building material loan for blacklisted you must meet some certain requirements and also submit your ID’s such as;
- Your latest payslip or pension remittance and a net income of at least R3 500 a month.
- Your valid South African identity document or card.
- Your stamped bank statements for the last three months (showing your salary).
Nedbank building material loan
With Ned bank, you can get the money you need to build your dream home from the ground up without delay with their building material loan for blacklisted clients in South africa.
With your permission, they will make direct payments to the contractors. You will only begin paying the full monthly installment once the construction is finished and you have instructed us to make the final payment to the builder.
Conclusion To building material loan for blacklisted
Mostly you might not get approved for a building material loan if you’re under debt review or blacklisted. But you can apply for a loan consolidation that would enable you to get a home loan and repay back in due time.