Getting a mortgage in South Africa is starting to look a lot like buying a fridge. Digital platforms are turning the long, paperwork-heavy process into something that can be done with a few clicks, and consumers are responding.
The latest signal came last week when Takealot, the country’s largest e-commerce platform, launched a Home Loan Hub in partnership with MortgageMarket, the country’s online home loan marketplace. Within 48 hours, more than 1,000 people had applied, according to Tim Akinnusi, MortgageMarket CEO.
They join a growing list of South Africans turning to online platforms like MTN, EasyEquities, and BetterBond to secure home financing, bypassing brokers and branch visits.
With just one digital application on Takealot, users can receive instant pre-approval insights without affecting their credit score, compare offers from lenders such as Absa, FNB, Investec, RMB, and Standard Bank, and get loan proposals within 72 hours. Successful applicants even receive up to R20,000 (over $1,100) in Takealot vouchers once their bond is registered, a tactic reminiscent of e-commerce bundling logic designed to make online shopping stickier.
“It’s a smart move by Takealot as they have established distribution and additional data from past purchases to help determine the credit risk,” said Michael Jordan, a chartered enterprise risk analyst. “I think it will be a success and would not be surprised if they expand into insurance next.”
Davison Mudzingwa, an entrepreneur and business analyst, noted that accessing home loans through e-commerce platforms like Takealot speeds up the process of bond application and approvals. “I hope this will increase activity within the property and long-term loan market due to ease of access,” he said.
This trend is unfolding as South Africa’s housing market shows signs of recovery from the pressures of high interest rates, rising costs of living, and post-pandemic economic strain. The recovery is driven by first-time buyers, who accounted for nearly 53% of the total applicants coming from this segment in Q1 2025, according to Absa’s Homeowner Sentiment Index. For BettaBond alone, loan approvals increased by 8.2% in the past 12 months ending in March 2025, compared to the same period the previous year
Takealot’s move reflects a larger trend of digital platforms expanding into lifestyle services driven by surging internet, mobile, and social media use. Avo, an e-commerce run by Nedbank, bundles banking, shopping, and more in one digital interface. For younger, tech-savvy consumers, the ability to manage applications online without endless trips to banks is a major shift. Analysts say technology-driven distribution channels are well-positioned to ride this wave.
“If getting a mortgage can be as seamless as buying a fridge, more people might finally buy both,” Mudzingwa added. “It’s a good development that shows technology as both an enabler and a frontier that takes down barriers for both business and consumers.”
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