Is it possible to buy a house when I am blacklisted? This may be a resounding question that you ask yourself on a daily basis. If you have bad credit or have been blacklisted you may be finding it extremely difficult to land a housing loan or a mortgage bond. The major banks in South Africa may not be willing to give you a housing loan should you be blacklisted because you are considered a high risk. When the banks turn you down it certainly is not the end of the road because you can turn to financial institutions that are created for your benefit as an individual that is blacklisted.
The companies that will offer you financial assistance will still require you to do some work on your end to ensure that your credit score is on the road back to recovery through responsible spending and debt clearing. Getting your credit record cleared may not be easy but it is certainly worth the fight to obtain a clear and healthy credit score. If you are looking to own a home but have bad credit you can consider alternative avenues of owning a home such as a bond free home.
Bond Free – for blacklisted people
- Get a home without the need of securing a bond; how awesome is that?
- You will receive a short course informing you on how to secure a house without the need of a bond.
- A small fee will be required from you for the short course however it really is value for your money from the beneficial information that you will receive.
- Enjoy the convenience of doing the course in your own time so that it does not conflict with your job or studies.
Debt Counselling – for blacklisted
- This may sound very familiar and that’s because it works. Debt counselling will help you get back on the road to recovering that bad credit.
- A debt counsellor will walk you step by step to the recovery of your credit score by analysing your credit and spending habits so that you can obtain financial freedom.
- There are a lot of debt counsellors online and you can start by consulting debtcounsellinhelp.co.za
When looking for a lender that assists bad credit you need to ensure that you do your research because there are a lot of companies that rip people off and take people for a ride. Make sure that the institution you choose is regulated by the NCR and a good platform to look into is loansfind.co.za. They offer the following services:
- Unsecured loans: Zero collateral required so your assets and equity is safe. You need to earn a monthly salary to be granted an unsecure loan.
- Secured loans: Linked to your assets or equity. These loans allow the lender to lend you a higher amount with a better interest rate.
So now that you know that you have a lot of options as a blacklisted person to get approval for housing; all you need to do is a little bit of research and make sure that you choose the option that is best suited for you and your personal needs.