As a Homeowner with demonstrable source(s) of income who wishes to borrow on a long term basis using your home as collateral, you can access the GHL Bank Equity Release Mortgage. GHL Bank offers existing homeowners the opportunity to release equity, and finance other obligations or personal needs.
Homeowners may wish to release equity for any reason, including:
Loan Purpose – To finance personal obligations Tenure – 10 to 15 years Debt Burden - Not more than 40% of net income Maximum Facility Limit – Up to 60% of the value of the property Repayment – Fixed Monthly Repayment
Access to a dedicated relationship officer to handle all activities in relation to mortgage facility. Available funds to finance client’s obligations Easy access to insurance facilities for the mortgage facility. Competitive charges. Transparent terms and conditions.
Property must be residential. Applicant must pay off the loan before their 60th birthday. Applicant must demonstrate valid ownership of the property (in the form of land title certificate or fully registered indenture). Use of funds must be acceptable to GHL Bank. Loan period is up to 10 years for cedi loans and 15 years for dollar loans.
Other requirements if you are self-Employed