This is just wrong! (that is, evil )
I can't see away for people to actually come out of this okay. I'm guessing the bank will take your home away if you can't pay it back, and they own it (at least 50%) if you die.Up to 45% of the property value can be borrowed against with a minimum loan value of R250 000. The money can either be taken as a lump sum or in monthly draw down amounts. The loan duration is five years, during which no repayments are made, and interest of 1,98% above prime is charged from day one.
Maybe I'm missing something, but why would anyone want to do this?