The Property Loan Agreement serves as the primary legal instrument for securing property financing in South Africa, operating within the framework of the National Credit Act 34 of 2005 and related legislation. This document is essential when individuals or entities seek financing for property acquisition, with the property serving as security for the loan through a registered mortgage bond. The agreement must comply with strict South African regulatory requirements, including credit assessment protocols, prescribed interest rate calculations, and mandatory consumer protection provisions. It contains comprehensive details about the loan facility, property specifications, security arrangements, borrower obligations, and enforcement mechanisms. The document is crucial for both residential and commercial property transactions and requires careful consideration of both banking and property law principles.

1. Parties: Identification of the Lender and Borrower with full legal names and registration/identity numbers

2. Background: Context of the loan agreement, including the purpose of the loan and brief property description

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation

4. Loan Amount and Purpose: Specification of the loan amount and confirmation of its purpose

5. Property Details: Comprehensive description of the property serving as security

6. Interest and Charges: Interest rate, calculation method, and applicable fees as per National Credit Act requirements

7. Repayment Terms: Payment schedule, installment amounts, and payment methods

8. Security Arrangements: Details of the mortgage bond and other security measures

9. Borrower's Warranties and Representations: Confirmations and guarantees provided by the borrower

10. Borrower's Obligations: Ongoing responsibilities including property maintenance and insurance

11. Events of Default: Circumstances constituting default and consequences

12. Lender's Rights and Remedies: Actions the lender may take in case of default

13. General Terms: Standard contractual provisions including notices, amendments, and governing law

14. Signatures: Execution clause and signature blocks for all parties