This product enables self-employed or salaried workers to borrow funds to meet personal or business needs, excluding settling other debt, and having demonstrated a means of paying off the loan within a short period. Homeowners will use their personally owned landed residential property with unencumbered title as security for the loan.
Loan Purpose – To meet personal needs of client. Tenure – Up to 2 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 personal or business needs. 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 24 months (2 years).
Other requirements if you are self-Employed