Build It Loan Requirements: Your Complete Guide to Getting Approved

Building or renovating a home is a milestone that often requires reliable financing. Securing a Build It loan can be the key to turning your dream project into reality, but understanding the requirements is essential for a smooth approval process. This comprehensive guide covers everything you need to know about Build It loan requirements, including eligibility criteria, necessary documents, common stumbling blocks, and insider tips for a successful application.

Essential Highlights

Minimum eligibility requirements include being at least 18 years old, possessing a valid South African ID, earning a regular income (typically R4,000+ per month), and being permanently employed.
Supporting documents such as salary slips, bank statements, building plans, and NHBRC certificates are typically required.
Loan amounts and providers: Various credit facilities are available through Build It partners like Nedbank, Capitec, RCS, and others, with personal loans up to R400,000 for building needs.
The process is fast and user-friendly, often with approval in as little as two hours at select Build It branches.
Meeting requirements and submitting accurate paperwork greatly increases your chances of approval.

Understanding Build It Loans: An Overview
Who Qualifies? Key Eligibility Requirements
Required Documents for a Build It Loan
Application Process: Step-by-Step
Partner Lenders and Loan Amounts
Tips for a Successful Application
Useful Resources and Internal Links
Frequently Asked Questions (FAQ)

Understanding Build It Loans: An Overview

Build It loans are tailored financing solutions designed to help individuals purchase building materials and fund construction projects through the Build It store network. Whether you’re building from scratch or renovating, these loans provide fast, accessible credit, often with same-day approval at select branches.

Purpose: To finance the purchase of building materials and related expenses.
Loan providers: Partnerships exist with major South African financial institutions (Nedbank, Capitec, RCS, and others)[3].
Approval speed: Some branches offer decisions within two hours[1].

Who Qualifies? Key Eligibility Requirements

To qualify for a Build It loan, you must meet several baseline criteria set by both Build It and partner lenders. Understanding these requirements ensures you approach your application with confidence.

General Eligibility

Minimum age: 18 years[2][4].
South African citizenship or permanent residency: Valid SA ID or smart card is mandatory[2].
Stable income: Most lenders require proof of a steady income, often at least R4,000 per month[2].
Permanent employment: Many credit facilities are available only to those with permanent jobs[2].
Good credit record: A healthy credit score increases the chances of approval[4].

Creditworthiness

Credit checks are conducted to assess risk; a history of defaults may lead to rejection.
For larger loans or building bonds, a deposit may be required[5].

Required Documents for a Build It Loan

Having the right documents ready not only speeds up your loan application but also showcases your readiness to lenders. Commonly required paperwork includes:

Valid South African ID or smart card[2]
Proof of income: Recent salary slips
Bank statements: Usually three months’ worth
Building plans: Approved plans for the intended project[7]
Schedule of finishes: Outlines materials and quality
NHBRC certificate: Proof that your builder is registered with the National Home Builders Registration Council (for new builds)[7]
Proof of address (such as utility bill)
Quotation or invoice for building materials from Build It

Tip: Each lender may have slightly different requirements; check with your local Build It branch or your chosen financial institution for a checklist.

Application Process: Step-by-Step

Applying for a Build It loan can be straightforward if you follow these key steps:

Visit your local Build It store
Speak to a credit consultant to check your eligibility and the amount you qualify for[1].
Prepare and submit documents
Complete the application form and provide all supporting paperwork.
Assessment and approval
Lenders will verify your details and undertake credit checks. Some applications can be processed and approved in as little as two hours[1].
Collect materials
Upon approval, access your building materials and begin your project.

Pro tip: Keep copies of all documents submitted, and follow up on your application if you don’t receive feedback within the expected timeframe.

Partner Lenders and Loan Amounts

Build It loans are available through a network of reputable partner financiers, offering flexible amounts and terms to suit different project sizes.

Nedbank: Personal loans up to R400,000 with direct Build It payment and any surplus paid to you[2].
Other partners: Capitec, RCS, Evolution Finance, Kanga Finance, and FIN offer tailored solutions for Build It purchases[3].
In-store credit consultants: Available to help you navigate your options and secure the best deal for your circumstances[1].

Each partner may have unique interest rates, repayment terms, and qualifying criteria, so compare options before applying.

Tips for a Successful Application

Boost your chances of loan approval and a smooth process with these actionable tips:

Check your credit report in advance to resolve any inaccuracies.
Gather all documents before applying to avoid delays.
Budget realistically: Only apply for what you can comfortably afford to repay.
Work with NHBRC-registered builders to meet regulatory requirements[7].
Maintain up-to-date building plans and cost schedules.

Leverage Build It’s in-store consultants for personalized advice and to ensure your application is complete and compelling.

Useful Resources and Internal Links

For more detailed information and guidance, visit these helpful resources:

Frequently Asked Questions (FAQ)

What is the minimum income required for a Build It loan?
Most lenders require a minimum regular income of at least R4,000 per month for loan eligibility[2].

Can I apply for a Build It loan if I’m self-employed?
Yes, but you’ll typically need to provide additional documentation such as audited financials or tax returns, depending on the lender’s policy.

How quickly can I get approved?
Approval can be as fast as two hours at some Build It stores if you have all the required documents and meet the criteria[1].

What can I use the Build It loan for?
Loans are primarily for the purchase of building materials and can sometimes be used for labor costs or other project expenses if specified by the lender.

Do I need to provide a deposit?
Some building loan providers may require a deposit, especially for larger projects or when securing a bond with a bank[5].

What if my credit history is poor?
A healthy credit record is important. If your credit is less than ideal, consult a Build It credit consultant for advice or consider repairing your credit before applying[4].

Are there any hidden fees?
Always ask for a full breakdown of all fees, including initiation and monthly service charges, before agreeing to any loan.

Ready to start your building project? Explore the full Build It loan requirements or get personalized advice by visiting your nearest Build It branch. Secure your dream home with confidence!

Build It Loan Requirements