Mortage Products
Home Purchase Mortgage-HPM
Group Scheme Construction   Stage Payment
Home Completion Mortgage-   HCM
Home Improvement Mortgage –   HIM
Home Equity Mortgage- HEM
Buy Land and Build own Home   Mortgage - BLBH
Construction Finance Mortgage   (CFM)
Construction Stage Payment   Mortgage (CSPM)
 
Mortage Products :
Home Improvement Mortgage – HIM
The Product:
The HFC Home Improvement Mortgage is designed to assist applicants to undertake renovation and extension works on their existing houses. The target group for this product are existing homeowners and companies with properties.
Description:
The maximum term for this facility is 15 years Leone loan and 10 years for foreign currency loan.
The applicant is to provide clear and undisputed title to the property, which must be duly registered.
The maximum loan amount is USD $100,000or its equivalent in Leone.
Terms:
RESIDENT SIERRA LEONEANS NON-RESIDENT SIERRA LEONEANS
Maximum Loan 50% of the value of the property and not exceeding the ceiling of US$100,000 or its Leone equivalent.
Maximum Term 15 years 10 years
Processing Fee 1.5% of proposed loan US$250 / GBP150
Facility Fee Nil 1% of proposed loan
Statutory Deposit towards registration of title and security documents 1% of proposed loan 1% of proposed loan
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