The Republic Bank Home Improvement Mortgage is designed to assist applicants to improve or undertake renovation and extension works on their existing houses. The target group for this product is existing homeowners and companies with properties.

 

FEATURES

 

	RESIDENT GHANAIANS	NON-RESIDENT GHANAIANS
Maximum loan	50% of the forced sale value of the property	50% of the 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
• Title documents to the property
• Bill of quantities
• Site plans
• Building permit

BENEFITS

• Opportunity to expand and improve existing property
• No down payment required