Help towards buying or renovating a new home

Whether you’re buying a new home, or renovating or refinancing the home you live in now, Mortgage Loan is the ideal way to finance it.

Features

• Repay conveniently over up to 10 years
• Available for completed buildings only

Take the first step to owning your home with a personal mortgage which you can pay back over a long term.

What you should know

• Year to repay: 5 - 20 years
• Facility fee: 2%
• Earn a minimum net salary of GHS2,000 or USD1,500 a month

Key Features

• Loan Choices - Choose from 6 different home loan products
• No Limits - No maximum loan amount (totally dependent on income)
• Best Value - Competitive variable interest rate in GHS, USD, GBP or EUR
• Your terms - Choose to repay your loan at the pace you're comfortable with

Conditions

• Loan must be repaid in full over an agreed period by:
  Standing order from a Stanbic Bank salary account.
• Direct payroll deduction by employer (Workplace Banking Schemes).
• Insurance - On approval of your home loan, you need to take out compulsory life insurance and property insurance against fire and other perils.

Options

• Home Purchase
• Developer Construction
• Refinancing
• Equity Release
• Home Improvement
• Employer Group Mortgage Scheme

How to get 

• Work for any Stanbic profiled organisation
• Be permanently employed
• Be a high net worth individual considering buy-to-let options
• Be over 21 years and under 60 years by the end of the loan term.
• Complete a Home Loan Application form and provide the following supporting documents:
  • Proof of income – past three months’ payslips
  • Proof of past two years’ employment
  • Proof of identity – passport, driver’s licence, Voter’s Identity Card
  • Proof of residence
  • Offer letter from developer (for Home Purchase, Developer Construction and Employee Mortgage Scheme)
  • Bill of quantities, building plan and permit (for home improvement and developer construction)
  • Property title documents (To begin title search)
  • A Valuation Report from one of our approved valuers will also have to be given to us
    Loan will be approved subject to a positive credit bureau report