Rent2buy opportunities now available in a new development in Rivergate, Milnerton, Western Cape

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Pioneer Place is a new development which provides an affordable opportunity for house- hunters to own their very own homes and enjoy a convenient lifestyle in Rivergate, a developing part of Cape Town’s Western Seaboard (Milnerton, Tableview and Blouberg). Completion is scheduled for July 2024.

MDW Inc is thrilled to announce our new mandate to assist with the marketing, pre-qualification, of Rent2buy and ordinary sales of the properties in this exciting new development. This is our second mandate in the Rivergate area in which we are providing our services.

Various available options: exploring the possibilities

The MDW INC team identified the need to assist buyers in getting their foot on the property ladder.

First time home buyers are assisted and guided on how to enter the property market through various financing structures and acquiring their dream home in Pioneer Place.

Subsidies for first time buyers

The Finance Linked Individual Subsidy (FLISP) programme is a housing subsidy aimed at assisting qualifying first-time home buyers with purchasing a home.

The subsidy can be used as a deposit to buy a home.

Households with a gross combined income between R3 501.00 to R22 000.00 may qualify for the FLISP subsidy, if they meet all the criteria, such as being a first-time buyer with a financial dependent and a South African citizen.

What is the subsidy amount that you can qualify for?

The subsidy amount depends on your gross household income and ranges between R38 878.00 – R169 264.00.

The MDW INC team will assist buyers first to check if a buyer can qualify for a FLISP/First Home Finance subsidy and then the balance financing required to purchase your new home, through the following two structures:

  1. Home loans the traditional way

Buyers may choose to acquire the property by means of a home loan from the banks, which the MDW INC team will be able to assist with.

An interested home buyer can do a quick online pre-qualification credit score and affordability check to determine the home loan one can qualify for. According to a lending mortgage originator who also uses the online process co-developed by Meyer de Waal and his team, a buyer who obtained a pre-qualification certificate has a 90% success rate to obtain a final home loan approval, compared to the “industry standard” of 75% approval success.

Do your own free online pre-qualification: click here Pioneer Place Rent 2 Buy Indicator

Subsidy for a first time buyer

If the buyer is a first-time buyer who earns not more than R22 000.00 per month then a FLISP/First Home Finance subsidy may be applied for and reduce the purchase price or loan amount.

The subsidy amount will be based on the applicant’s income range, and subject to the applicant meeting the qualifying criteria, such as being a first-time homeowner with a financial dependent.

  1. Rent2buy

With home buyers finding it increasingly difficult to secure a home loan to fit their needs, the Rent2buy/Instalment Sale concept is proving an even more popular way to secure your own home to purchase.

Once the buyer and the transaction are pre-approved and the buyer has paid a deposit of 5-10% of the purchase price, the property will be purchased for the buyer.

The purchase price will be “frozen” for 15 years (the repayment term may vary for different approvals) and the buyer can pay off the original purchase price and take transfer once the full purchase price is paid off.

Watch the Rent2buy/ISA Finance video.

Not easy to find a Rent2buy property

According to Meyer De Waal, a conveyancing attorney and director of MDW INC, who fine-tuned and developed the Rent2buy concept since 2007, finding a Rent2buy property is one of the most difficult “properties for sale” to locate.

With Rent2buy/Instalment Sale finance now available, one can buy any property in the approved areas and price range, as soon as you are pre-approved.

We therefore urge potential buyers to act fast and contact us should they be interested in this development.

“With Rent2buy/Instalment Sale Finance available in the price ranges of R400 000.00 to R2,9 million, one is now able to use alternative finance structures to secure your own home.

My daughter, a self-employed entrepreneur recently secured her own property of R1,6 million through this unique finance structure”,

says De Waal.

Minor debt or affordability issues?

Many buyers get discouraged when their home loans are declined due to minor issues with their credit rating or affordability issues.

The My Budget Fitness’ service will be able to assist those buyers with improving their credit rating and affordability and can sign up on the free My Budget Fitness programme .

Don’t miss out

Despite ever increasing property prices, you do not have to be stuck renting forever and paying off your landlord’s bond.

The MDW INC team can assist home buyers in getting a foot in the door and securing a property through our various financing structures.

Units available

Prices

The 1 bedroom units are selling for R 679 900.00 – R 739 900 and the 2 bedroom units for R 799 900.00 to R 849 900.00.

Other Rent2buy information

Read more:

 

FOR ENQUIRIES:

 Meyer de Waal

MDW INC meyer@mdwinc.co.za

021 461 0065 & 083 653 6975

 

Daniela Papa

daniela@mdwinc.co.za

021 461 0065 & 083 783 8494

Devedine Armstrong

devedine@mdwinc.co.za

021 461 0065 & 076 902 4027

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