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 Equity Mortgage- HEM
The Product:
This facility is designed to enable applicants who own homes or may have already invested in residential properties to release the equity in those properties to improve their liquidity position. The target group for this product are existing homeowners and companies with properties.
Loans shall not exceed a maximum of 80% of the forced sale value (FSV) of the property. The maximum term for this facility is 15 years for Leone and 10 years for foreign currency loans. There must be clear and undisputed title to the property. The title must be duly registered.
Maximum Loan 80% of forced sale value of the property or the maximum loan amount. It is subject to customer’s credit profile (whichever is less).
Maximum Term 15 years 10 years
Processing Fee 1.5% of proposed loan US$250 / GBP150
Facility Fee Nil 1% of proposed loan
Deposit against Statutory Fees (towards registration of legal documentation) - 1.5% of proposed loan 1.5% of proposed loan
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