A house is more than an investment – it’s a place to call home and create memories that will last a lifetime. Invest in your future with a Stanbic Bank Home Loan. We have simplified the process of buying, building or improving your home by designing many different options for you to choose from. We look forward to helping you to become a home owner
What does it offer me?
- A maximum loan period of 25 years
- You can finance up to 90% of the Open Market Value of the property or the purchase price, whichever is the lesser
- Your monthly repayments cannot be more than 45% of your net monthly income (if you are not repaying other loans)
- Your monthly repayments cannot be more than 50% of your net monthly income (if you are repaying other loans)
- Bond registration will only be processed after the deposit has been paid or pledged and insurance has been arranged
- You only start repaying your loan after the property has been transferred into your name and the bond has been registered
- In the case of construction, you need to collect a statement from us and pay the interest during the building period.
What will it cost me?
- Minimum deposit of 10% of the purchase or building price
- Transfer duty
- Arrangement fees/bank charges
- Bond and other legal fees
- Home Protection Plan premium (inclusive of VAT)
- Home Loan Protection Plan premium (inclusive of VAT)
What do I need to apply?
- Formal property valuation (whether building, buying or refinancing a completed house)
- Certified copy of the Title Deed (must be in individual or company name)
- Letter of offer to purchase plot/property
- Proof of income (pay slip or letter from employer, auditors or accountants)
- Proof of marital status and copy of marriage certificate (in/out of community of property or Decree Absolute)
- Certified copy of identity document
- Certified copies of work and residence permits (expatriates)
- Certified copy of passport (expatriates)
- Copy of contract of employment (expatriates)
- Statement of assets and liabilities (form provided by us)
- Affordability statement - income and expenditure (form provided by us)
- Bank statements for the past six months (if account is not held with us)
Where can I get more information?
Call us on 00267 361 8555, toll free 0800 600 685