How to get a mortgage loan from Stanbic IBTC Bank Ghana could be what you should assess. Especially if you want to move from your current home. There is always a time when you could really need a new environment and see fresh faces. And preferably have a home you would call yours. Therefore, in order to actualize the above, you could consider getting a mortgage loan from a credit bank in Ghana. This is because paying off a mortgage from your salary would be too much for you as you would need to cater to other financial obligations. So, getting a mortgage loan from a credible bank best makes sense.
As you read along, you’ll see how to get a mortgage loan from Stanbic IBTC Bank Ghana.
About Stanbic IBTC Bank Mortgage
Customers who wish to buy or develop their dream house and pay it off over time can get a personal mortgage from Stanbic Bank. However, they collectively refer to Stanbic’s mortgage facilities as Stanbic Home Loan.
The Stanbic Home Loan has a loan duration range of 5 to 20 years, with no maximum limit. Your limit is ultimately determined by your income.
What are the mortgage products of Stanbic IBTC Bank?
Stanbic IBTC Bank offers some mortgage loan products to their customers. They include:
1. Home Purchase
This product is for the purchase of complete properties for use as primary residences.
2. Developer construction
When purchasing a residential property from one of Stanbic’s preferred developers while it is still under construction. The bank will pay in installments to allow the developer to finish your dream home. This is exactly what this product offers.
3. Employer Group Mortgage Schemes
Home construction by a developer on property purchased through an organization’s block lands concept. For example, a workers’ union may purchase land to be developed by a developer.
4. Equity Release
This product lets you unlock the value in your existing property. It occurs by taking a loan and using the cash released for a variety of personal needs. Besides that, it includes the purchase of another home or prime land. And also business expansion or funding education.
5. Home Improvement
This lets you expand, remodel or renovate your existing property.
There are 3 types of refinancing offers by Stanbic IBTC Bank. They include:
- Internal Refinancing: This lets you arrange new financing terms such as the term of your existing Stanbic Home Loan, currency, and amount.
- External Refinancing: This product provides financing to take over existing home loans from other financial institutions.
- Cash-Out Refinancing: It enables you to access extra money if the value of your property has appreciated over the years.
What are the requirements for a Stanbic IBTC Mortgage loan?
There are some requirements you must provide in order to get a mortgage loan from Stanbic IBTC Bank. They include:
- Work for any organization with a Stanbic profile.
- You should earn a minimum of GH₵2,000 net salary or USD1,500 per month.
- You must be an employee permanently.
- If you’re a high-net-worth individual looking at buy-to-let properties,
- Don’t be over 60 years or under 21 years by the end of the loan term.
- Fill up a Home Loan Application and attach the following documents to it:
- Proof of income–past three months’ payslips.
- A proof of past two years’ employment.
- Proof of identity–passport, driver’s licence, Voter’s Identity Card.
- Proof of residence.
- Get an offer letter from the developer. However, this is for Home Purchase, Developer Construction and Employee Mortgage Scheme.
- Bring your bill of quantities, building plan and permit. However, this is for home improvement and developer construction.
- To begin title search, get your property title documents.
- Provide a Valuation Report from one valuer they approved.
- They will definitely approve the loan depending on a positive credit bureau report.
What are their contact details?
For more enquiries you can contact Stanbic IBTC bank through their:
- Address: Old Suame, Plot 18, Blk XIV, Old Suame, Kumasi Fidelity Building next to Procredit.
- Phone Number +233 3220 83740.
- Email Id: firstname.lastname@example.org
- Website: www.stanbic.com.gh
Because of their variety and great customer service, Stanbic IBTC bank loans continue to be a popular choice among residents around the country. You can receive a loan from any Stanbic IBTC bank today by visiting one of their branches or using their mobile banking service.