This facility is designed to enable applicants who own homes or may have already invested in residential properties to release or take out the equity in those properties to build another property, renovate or improve a residential property. The target group for this product is existing homeowners (individual or joint) and companies with properties.

FEATURES

	RESIDENT GHANAIANS	NON-RESIDENT GHANAIANS
Maximum loan	80% of forced sale value of the property	80% of forced sale value of the property
Maximum term	15 years	15 years
Processing  fee	1.5% of proposed loan	US $ 250
Facility fee	Nil	1% of proposed loan
Legal Fees	0.5% of loan amount for stamp duty on Mortgage deed GH¢3,000.00 towards registration	0.5% of loan amount for stamp duty on Mortgage deed GH¢3,000.00 towards registration

 

REQUIRED DOCUMENTATION

• Valuation report
• Clear and undisputed registered title to the property

 

BENEFITS

• Enables individuals/ companies to own second property
• The new property can be used for investment purposes
• The facility can be taken in Ghana Cedis or USD based on income