There are important factors to consider before leaping into a long-term financial commitment with a friend, live-in partner or sibling. In this article, we will give you all the information you need to know about joint bond applications.

Joint bond vs single bond: key differences

Deciding whether to apply for a bond on your own or with a partner? The table below compares the two approaches across the factors that matter most.

A joint bond application is often the more practical route when neither applicant can comfortably afford a property alone, but it does come with shared risk. Make sure both parties fully understand the obligations before signing.

How does a joint bond application work in South Africa?

Before diving into the finer details, it helps to understand how a joint bond application actually works from start to finish. The process is broadly the same as a single application, but with a few additional requirements because more than one person is involved.

Who qualifies as a co-applicant?

South African banks allow a wide range of co-applicants on a joint bond. You do not need to be married - a life partner, family member, or even a close friend can apply alongside you. The key requirement at most lenders is that every applicant must be a South African citizen or permanent resident, be at least 18 years old, and be able to demonstrate a stable income. However, some banks - such as FNB through its Foreign Choice product - do offer home loans to foreign nationals holding valid work or temporary residence permits, typically subject to stricter conditions such as a larger deposit and South African Reserve Bank exchange-control clearance. Some lenders allow up to four co-applicants on a single bond.

Documents both applicants need to provide

• Certified copy of your South African ID or passport

• Latest three months' payslips (or six months' bank statements if self-employed)

• Three months' bank statements for your primary account

• Proof of residence (utility bill or bank statement not older than three months)

• A signed offer to purchase (OTP) for the property

• Existing loan or credit agreement statements, if applicable

Both applicants must submit a complete set of documents. Missing paperwork from either party will delay the process.

How banks combine income for the affordability assessment

One of the biggest advantages of a joint bond application is that the bank adds both applicants' gross incomes together when calculating affordability. This combined figure means you may qualify for a larger loan than either of you would on your own. However, the bank also totals both applicants' existing debts, monthly expenses, and credit obligations, so outstanding loans on either side can reduce the amount you qualify for.

The role of the conveyancer and title deed registration

Once the bond is approved, a conveyancer (a specialist property attorney) handles the legal transfer. For joint owners, both names are registered on the title deed. You can choose to register ownership in equal shares (50/50) or in different proportions - for example, 60/40 - depending on each party's financial contribution. This split should be agreed upon in writing before transfer takes place.

Typical timeline from application to bond approval

Most South African banks aim to issue a bond approval within 7 to 14 working days of receiving a complete application. After approval, the registration process through the Deeds Office typically takes a further 8 to 12 weeks. In total, expect the journey from submitting your joint bond application to moving in to take roughly three to four months.

Most people would prefer to buy their own home rather than pay rent to a landlord every month, but it's not always easy on your own. This is why banks allow two or more people to apply for a home loan or what is sometimes called a joint bond account. This means that all parties jointly own the property and, therefore, are jointly liable for the costs and fees.

You don't have to be married but there are important factors to consider before leaping into a long-term financial commitment with a friend, live-in partner or sibling.

Sign a written agreement

Unfortunately, if both applicants are not legally married, they are not protected by the country's marriage laws even if they live together. So, it's a good idea to consider signing a written agreement with your partner when buying a home together. In the agreement, you and your partner should agree on how to deal with the asset in the event of a breakup or if one person is incapacitated.

Joint bond credit scores: frequently asked questions

Your credit score plays a central role in any home loan decision. When two people apply together, the picture becomes a little more complex. Below are the questions we hear most often.

Can you get a joint bond if one partner has a bad credit score?

It is possible, but significantly harder. Most banks assess each applicant individually before looking at the combined profile. If one partner has a lower credit scores history - for example, multiple missed payments, defaults, or judgments - the lender may decline the application outright or offer less favourable terms such as a higher interest rate. In some cases, the partner with the stronger profile can apply alone, though this limits the qualifying amount to their single income.

Does the bank use the higher or lower credit score?

South African banks do not simply average the two scores. Each applicant's credit report is reviewed on its own merits. The lender looks at both scores, payment histories, and outstanding debts. In practice, the weaker applicant's score carries more weight because the bank needs assurance that both parties can service the debt reliably. A single adverse listing on either report can influence the overall outcome.

What minimum credit score do SA banks typically require for a home loan?

There is no universal minimum, as each bank uses its own scoring model. As a general guideline, a score in the Looking bright band (634-657) or higher on the ClearScore scale puts you in a strong position for competitive interest rates. Scores in the On good ground band (616-633) may still be accepted but could attract a higher rate. Below that, approval becomes less likely without additional security or a guarantor. Checking your score before you apply gives you time to address any issues.

How can you improve your credit score before a joint bond application?

Start by checking your credit report on ClearScore for errors or outdated information and dispute anything incorrect. Pay all accounts on time for at least three to six months before applying. Reduce existing debt - lenders look at your debt-to-income ratio, so paying down credit cards and store accounts makes a real difference. Avoid opening new credit lines in the months leading up to your application, as multiple credit enquiries can temporarily lower your score.

Both you and your partner's finances will be assessed by the lender during a joint bond application. This is why it's important that both applicants have a good credit score. Banks will also consider the income and monthly expenses of both applicants when conducting an affordability assessment.

Check your credit score for free on ClearScore.

Consider life insurance

When a loan is granted, the bank may require both applicants to take out life insurance as security. Banks need to know that the loan will be settled even if both applicants are unable to service the debt due to permanent disability or death.

What happens to a joint bond if you break up?

Relationships change, and when they do, a shared home loan can become one of the most stressful financial issues to resolve. Understanding your options early - ideally before problems arise - helps both parties make informed decisions and limit the financial fallout.

Option 1: Sell the property and split the proceeds

The simplest exit route is to sell the property on the open market. Once the home is sold, the outstanding bond balance is settled from the sale proceeds, and any remaining profit is divided between the co-owners according to the shares recorded on the title deed. If the property sells for less than the outstanding bond amount, both parties remain jointly liable for the shortfall. An estate agent can provide a realistic market valuation to help you plan ahead.

Option 2: One party refinances the bond into their name alone

If one partner wants to keep the property, they can approach the bank to take over the bond in their own name. This requires a fresh affordability and credit assessment - the remaining applicant must prove they can service the full monthly repayment on a single income. The departing partner's name is removed from both the bond agreement and the title deed. Keep in mind that transfer and bond registration costs apply, and the bank is under no obligation to approve the new single application.

Option 3: Cession of bond rights to a third party

In less common cases, the departing co-owner can cede (transfer) their share of the bond and property rights to a third party - for example, a new partner or family member of the remaining owner. The incoming party must meet the bank's lending criteria, and the bank must formally consent to the cession. A conveyancer handles the legal paperwork, and both the bond agreement and title deed are updated to reflect the new co-owner.

Legal costs and potential credit-score impact

Regardless of which route you choose, exiting a joint bond involves costs. Selling incurs estate agent commission (typically 5-8% of the sale price) and bond cancellation fees. Refinancing attracts new bond initiation and conveyancing fees. If the process is not handled smoothly - for instance, if repayments are missed during a dispute - both parties' credit scores can be negatively affected. Any default or late payment is recorded on both applicants' credit reports. To protect yourself, continue making your share of repayments on time until the matter is formally resolved, and consult a property attorney if you cannot reach agreement with your co-owner.

Ownership proportions in a joint bond are determined by what is recorded on the title deed at the Deeds Office, not by which applicant the bank designates as the primary contact. Both parties remain jointly and severally liable for the full bond repayment regardless of the ownership split. If one applicant defaults on their monthly bond repayment, the other will be held liable to cover the amount owed in addition to their own contribution.

If one partner can no longer commit to the bond agreement, a new bond application will have to be processed. The new application requires a full credit and affordability assessment.

A house is a big-ticket purchase and a long-term financial commitment, so you need to be absolutely sure about what you're getting into. A joint bond application can be a great way to buy your first home, but ensure that you and your partner are protected.