BMW Financial Services (Pty) Ltd

1 Bavaria Avenue
Randjes Park Ext. 17
Midrand
1685


PO Box 2955
Pretoria
0001


Telephone number: 0861 BMWFIN (269 346)
Fax number: 011 541 7593

BMW Financial Services Home Loans.

BMW Home Loans Overview.


For many years, BMW Financial Services has been a leader in vehicle finance, applying the same ingenuity and precision engineering that goes into the production of every BMW to its financial solutions. This extensive experience in vehicle finance has smoothed the road to extend a range of mortgage finance offerings to existing BMW Financial Services customers only.


Whether you are planning to buy your first home, refinance your existing home, or are looking for a rewarding property investment, a BMW Home Loan offers a range of flexible, competitive options to suit different needs. Further features include access facilities, further loans, repayment breaks, home owner's insurance and debt consolidation.


This service is limited to residential properties only and is not available for commercial properties, farms or other non-residential properties.


Product options.

  • Purchasing a new or existing property.
  • Switching current home loan facility from another institution.
    Registration costs and valuation fees will be covered by BMW SF.
  • Switching current home loan facility from another institution and at the same time registering a higher loan amount.
  • Building a new property.
  • Purchasing a property off-plan from a developer.
  • Additions and improvements to current property.

All applications subject to credit approval.


Download our recent Home Loans advert
Download Home Loans Application Form

Click here to have us contact you

For further enquiries contact BMW Home Loans on:
Tel. 0861 BMW FIN (269 346).
Fax. 012 564 7621.
E-mail. homeloan.sales@bmwfinance.co.za

Reduce your current monthly home loan instalments.

Already financed by another institution?


It's easy to switch your current home loan with the assistance of the BMW Financial Services Home Loan Team. We'll take care of everything, ensuring that the transition is as smooth and precise as a BMW gear-change, and it won't cost you a cent. Simply complete the application form, and we'll do the rest.


Debt consolidation.

  • Reduce your monthly debt repayment versus income ratio.
  • Pay off more expensive short term debt.
  • Increase your monthly “cash-in-pocket”.

Switch your current facility free of charge.

The legal cost for switching your current home loan facility will be paid by BMW Financial Services.


Free Property valuation.

A free valuation by a registered property assessor is part of the approval process.


Preferential legal fees.

Preferential fees for registering new mortgage bonds have been negotiated for all BMW Financial Services customers.


Preferential rates on Homeowner's Insurance (also known as structural insurance cover).

Preferential rates on Mortgage Protection Assurance (life cover).

BMW Home Loans are precision engineered to be quick, simple and individually tailored to your unique needs, with many value-added features and a fast application process.

Benefit from an extensive range of features.

BMW Financial Services Home Loans.


Access Facilities.

  • Take advantage of interest savings by depositing excess capital into your home loan account, and withdrawing again when required.
  • Choose to pay off the loan quicker through cash injections or increased debit order amounts, with the option to withdraw at a later stage.

Re-Advance.

  • Access to all capital already repaid, up to the original registered bond amount.
  • Option to repay debt over remaining term or amend term to suit instalment requirements.

Further Loan.

Increase registered bond amount, quickly and easily.



Maternity Benefit.

  • Pay only 60% of the instalment due, for a period of 3 months.
  • Three years allowed to catch up with payments.
  • Bond needs to be registered with BMW Financial Services for at least 12 months.
  • Applicable to co-applicants as well.

Life Assurance.

  • Settles your home loan account on death or disability.

Homeowner's Insurance.

  • Insurance policy protects your home from the risk of structural damage, including fire damage, storm damage or a burst geyser.

Documentation requirements.

BMW Financial Services Home Loans.


Please note you have to be an existing BMW Financial Services customer to apply for a BMW Home Loan.

The following documents will be required when applying for a home loan with BMW Financial Services.


Copy of South African identity document or passport.

Proof of income.

Salary earners.

  • Most recent payslip.
  • Three months bank statements.

Commission earners.

  • Latest tax certificate (IRP5).
  • Three months bank statements.

Self-employed individuals/company applications.

  • Six months bank statements.
  • Business financials (not older than nine months).

Statement of Assets and Liabilities (updated).

Copy of deed of sale/offer to purchase (if new loan).

Six months home loan statements (if switching loan).

For further enquiries contact BMW Home Loans on:
Tel. 0861 BMW FIN (269 346).
Fax. 012 564 7621.
E-mail. homeloan.sales@bmwfinance.co.za

Proof of additional income (if applicable).

  • Rental income.
  • Copy of Lease Agreement.
  • Bank statements to confirm receipt of rent.
  • Income from annuities/pension funds.
  • Letter from the fund to confirm the amount of payments.
  • Bank statements to confirm receipt of funds.
  • Interest from investments.
  • Investment certificate.
  • Bank statements to confirm receipt of interest.
  • Income from Trust Fund.
  • Letter from Executor to confirm amount and interval of payments.
  • Bank statements to confirm receipt of funds.

Conditions.

  • Repayment period can be selected by the customer but should not be less than 60 months (5 years) and will not exceed 240 months (20 years).
  • All instalments are payable by debit order.
  • Mortgage finance applied for should exceed R400 000.
  • The value of the financed property should exceed R500 000.
  • All financed properties should be residential in nature.

Property Types financed.

  • Vacant land.
  • Residential dwellings.
  • Residential dwellings to be used for business purposes e.g. doctors' consulting rooms.
  • Sectional Title units.
  • Cluster units.
  • Agricultural holdings.

Home Loans brochures and forms.

BMW Financial Services Home Loans.



Please download the application form, complete it and fax it to 012 564 7621.


Download Home Loans Application Form

Click here to have us contact you

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