Absa Home Loans recently launched their International Mortgages offering for customers who are looking to buy property outside of the country they reside.
Together, Barclays and Absa have designed a proposition that makes it possible for South African’s wishing to buy property abroad as well as non South African residents to invest in South Africa.
Gavin Opperman, Managing Executive for Absa Home Loans, says: ”Our close working relationship with our colleagues at Barclays in the United Kingdom has made this offering possible. Once we had the idea conceptualised, we were able to link our systems and process very easily, making it possible to offer our customer a full service offering, seamlessly and conveniently, either for purchasing in South Africa or any other country in which Barclays has a presence.”
Whether non-residents purchase property as holiday homes, or for investment purposes, they require professional guidance and assistance when it comes to making long-term commitments in the local economy. This need gave birth to the Absa International Mortgages Division.
Opperman says that many foreigners see the benefits of investing in property in South Africa on an increasing basis. More and more are taking the decision to invest in homes locally as they are attracted to the lifestyle, the climate and the numerous natural attractions that South Africa has to offer, including a very competitive property market.”
When it comes to buying in the UK, Barclays Buying Abroad will offer assistance when it comes to choosing property, whether for residential, holiday or investment purposes. Absa International Mortgages will initially intercede on behalf of South African customers who wish to make use of Barclays International Mortgage Services to acquire property off-shore.
Opperman is focussed initially on getting an international link established from South Africa to the United Kingdom and Europe,”but since launching we have had great interest expressed in other countries in Africa. We are currently busy putting together a solution that will make it possible for customers to buy in Africa in countries such as Mozambique.”