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Understanding South African Home Loan & Transfer Costs (2026 Updates)
What is the current interest rate in South Africa?
Interest rates are tied to the South African Reserve Bank (SARB) Repo Rate. Most commercial banks quote interest rates based on the Prime Lending Rate. Home buyers with solid credit scores often qualify for Prime, or even Prime minus 1% to 2%, depending on the bank's risk assessment.
How is SARS Transfer Duty calculated in 2026?
Transfer duty is a sliding-scale tax paid to SARS by property buyers. Following the latest government updates, properties priced up to R1,210,000 are 100% exempt from Transfer Duty. Beyond that, a tiered percentage scales from 3% up to 13% for properties valued exceeding R13.3 Million.
What are the recommended Conveyancing/Attorney Fees?
Conveyancing attorney fees are regulated under guidelines published by the Law Society of South Africa (LSSA). The August 2025 tariff recommends specialized professional fees starting at R6,640 for entry-level homes and scaling based on R200,000 increments above R1,000,000. Note that these guidelines are negotiable with your attorney.
What is the difference between Bond Registration and Property Transfer fees?
These are two entirely separate legal fees. Transfer fees are paid to the transferring attorney to register the property in your name. Bond Registration fees are paid to the bond attorney appointed by your lending bank to register the mortgage bond itself. Both calculate separately on sliding scales.