The biggest challenge that has confronted the drive towards safe and decent shelter for the majority of the South African population is inadequate finance. The worst affected in this scenario are the low-income groups and the poor. Research has shown that the poorest of South African households earn less than 10% of the total income earned by all South Africans and the richest 10% earn more than half of the total income. With such a picture, access to finance still remains the greatest challenge to low-cost housing development.
To alleviate the above described situation, Norufini housing came on the scene. Norufini housing was established at the dawn of the new millennium in 1999. Formerly known as the Northwest rural finance company, Norufini was formed in order to be a retail lender for the rural housing loan fund (RHLF) and consequently meet the housing needs of the lower income groups in both urban and rural areas.
In order to achieve this, Norufin has developed products such as the housing loans as well as services like the borrower education and third party relationship management. The Norufin housing loans provide customers with amounts of up to R30,000 with a repayment period of 24 months. Norufin does not just provide finance but also provides borrower education for clients to ensure they manage the finances better and make informed decisions. Norufini has also entered into agreements with building material suppliers which allows them to supply clients with required building materials and payments are made directly to the suppliers.
Customers can apply for the Norufin housing finance online or simply call 0183819900.