Coronavirus financial troubles? Don’t wait to contact your bank!

The sudden onset of the covid19 virus has caught the world by surprise and is wreaking havoc in all spheres of life! Along with the immediate health consequences there will also be many dire economic repercussions. The self-employed and those working freelance in the world’s growing gig economy are likely to face some very trying times.

Unfortunately, at least 95% of the many thousands of clients De Mink Property Finance Consultants placed home loans for over the past 24 years are self-employed or work freelance, and a very large proportion work in the Film and TV Industry. That’s why we are reaching out today.       

The Film Industry, relying as it does on international travel and large groups of people working closely together, has all but shut down. Almost all freelance workers in films or TV, or those who have businesses connected to the Film and TV Industry, suddenly find themselves without an income.

What to do if you can’t pay your home loan:

We have been advised that the banks will consider payment holidays (you will not be expected to make payments for a period of time agreed to by your bank) for persons affected by the lockdown period.

Regardless of whether your are employed, self-employed or freelance should your financial position be negatively impacted in the coming months and you have difficulty meeting your monthly bond instalments, please immediately contact the bank which holds your Home Loan account and inform them of your situation. They will begin looking into your account and financial situation and will (hopefully) agree not to penalize you.

Do not wait or expect the bank to automatically give you the payment holiday!

At the very least this will help save your credit score for when the economy opens up again BUT, let’s be honest, for some this action could save their businesses or even mean keeping food on the table…

Who to contact and what to do:

Please see below information received from the various banks:


  • Absa will pre-screen customers and send an SMS offering this capability to their customers who will opt in or out.
  • Customers can make contact with Absa using the following e-mail address:
  • This is effective 1 April 2020.

Standard Bank


  • Nedbank Home Loans clients can make contact via 0860 553 573, however call volumes are high, so if they struggle to get through they can e-mail for assistance.
  • Should clients want to enquire about a Moratorium/Payment Holiday they can e-mail Nedbank at for assistance.



The Deeds Office has shut down completely for two months starting Thursday 26 March 2020,  the municipality will not be issuing Rates Clearance Certificates and SARS will not be issuing Transfer Duty receipts. 

This means that ANY purchases that have not been finalized are now on hold and in limbo for the duration of the “lockdown”.

During the “lockdown” prospective purchasers will not be able to view properties or meet with estate agents (until at least 18 April 2020).  

Banks have advised that they will continue to process new home loan applications during lockdown, albeit with a much reduced staff complement, and only  bond approvals-in-principle will be issued as the banks’ Assessors will not be carrying out Property Valuations until after the lockdown is lifted.

De Mink Property Finance Consultants remain on duty throughout the lockdown period. 

If you signed an Offer to Purchase before the lockdown commenced and now need bond approval,  or if you want to be pre-qualified in order to be ready to purchase when things return to normal, please e-mail us on  or  contact  Liz  or  Linda  on  021 930 4479.     

If you need us we look forward to being of service to you during this trying time.

Otherwise we hope that you and your family will stay healthy and happy!

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