IBUILD operates on a “community banking” model and currently has branches in Gugulethu, Makhaza, Khayelitsha, Mitchels Plain, Delft, Brackenfell, Site C and Soweto. We provide innovative lending solutions to low income workers that banks would typically reject based on affordability. To qualify for a loan a borrower must earn a minimum joint income of R5500 per month. Our loan amounts vary from R60 000 up to the value of your building project with monthly instalments as low as R1500 per month. IBUILD disburses half of the mortgage amount directly to building material suppliers and the balance is disbursed to the borrower for labour and incidentals.
Our unique backroom product is tailor made to assist the homeowner to turn their house into an asset that will earn them an income well into their retirement. We offer homeowners mortgage finance for the construction of separate entrance rooms “amaBackroom”. Each room must be rented out by the homeowner to help cover the cost of the mortgage. Once complete and rented out, the separate entrance room typically generate rental income significantly more than the borrower’s cost of credit, leaving the homeowner with excess income from the units and a steady rental income.