Loans shall not exceed 50% of the total cost of construction of the property and the property must have reached at least the lintel level. The maximum term for this facility is 15 years for both Cedi and foreign currency loans.
FEATURES
| RESIDENT GHANAIANS | NON-RESIDENT GHANAIANS | |
| Maximum loan | US$160,000 equivalent in Cedis for reducing balance loans. | US$160,000 equivalent in Cedis for reducing balance loans. |
| Minimum contribution | 50% of cost of construction and property must have Reached lintel level. | 50% of cost of construction and property must have Reached lintel level |
| Maximum term | 15 years | 15 years |
| Processing fee | 1.5% of proposed loan | US $ 250 |
| Facility fee | Nil | 1% of proposed loan |
| Management Fees | 2.5% of proposed loan | 2.5% of proposed loan |
| Legal Fees | 0.5% of loan amount for stamp
duty on Mortgage deed and GH¢3,000.00 towards registration |
0.5% of loan amount for stamp
duty on Mortgage deed and GH¢3,000.00 towards registration |
REQUIRED DOCUMENTATION
- Valuation report
- Title documents to property
- A development plan
- Building permit
- Site plans
- Bills of quantity (BOQ)
BENEFITS
- Enables individuals/companies to complete existing property
- The property can be used for investment or residential purposes
- The facility can be taken in Ghana Cedis or USD based on income stream