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 :
Construction Stage Payment Mortgage (CSPM)
The Product:
The HFC Construction Stage Payment Mortgage (CSPM) facility is designed primarily to assist Real Estate Developers who are aiming to build homes for prospective HFC Mortgagors and may require funds to enable them complete the homes. It is intended to share the finance cost of constructing the property between the construction companies and the prospective (target) customers. The target market for this product includes Real Estate Developers and Construction firms in Sierra Leone.
  • The facility is extended to the developer through a dedicated loan account held with HFC (SL) Ltd.
  • Estate Developer is responsible for payment of interest and principal.
  • The primary source of payment is from sales proceeds of houses being developed.
  • Maximum term shall not exceed 12 months.
  • At some point liability transfers to purchaser.
  • Land with good title and in good location..
  • Must be reputable construction Company/Estate Developers and registered with HFC (SL) Ltd. Collateral optional.
  • Prior approved standard design houses with prices pre-determined and fixed Bills of quantities lodged with HFC (SL) Ltd.
  • Parcel plans and transfer documents executed and lodged with HFC (SL) Ltd.
  • Loans will be disbursed directly to supplier in some occasion.
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