Varying sizes and prices to suit the diverse needs of employees, with flexible payment structures to ensure affordability.
Loan repayments will be at a lower than expected level to match employee affordability.
The RBPlat Home Owner’s Allowance and Living Out Allowance will be applied to home loan repayments.
Increases will be effective on 01 of July each year, in line with annual wage increases.
Monthly statements will reflect payments that are dependent on the size of the home purchased.
Prepaid electricity, water, rates and taxes, transport and maintenance inside the house, will be for the homeowners own account.
Terms & Conditions of Loan
Prospective homeowners must be permanent employees of the RBPlat Group.
RBPlat remains the registered owner of the property until 50% of the repayment obligations are met. At this time the homeowner can elect to take transfer of the property and RBRP will register a bond over the property. If not the transfer will happen, when the full amount due has been paid (term-/+18years).
No home owner is allowed to sell or rent the property without a written consent from RBRP.
The homeowners rights are endorsed over the property and RBRP cannot further trade with the property, except when a breach of contract has occurred.
If the employee wants to sell the property (once the property has been transferred) the company has the first option to buy back the property from the employee.