Who Qualifies

People and groups who: Were previously denied their full rights buy land. Have the potential to become successful farmers. A person whose spouse owns farmland does not qualify. People who own land in towns and cities can get Special Mortgage Bonds. Sons and daughters of people who own farmland can qualify as first time buyers.

 

Replacement

Currently the special interest rate is set at 10%. This rate is fixed for 24 months with intention of keeping it as low as prevailing market conditions allow. The maximum loan at the special interest rate is R500 000. If you borrow more than R500 000, the interest on the amount over R500 000 will be charged at the standard rate for long-term loans. The loan term is up to 25 years.