Cash Against Property

Overview
Is a loan facility to assist property owners to obtain cash from value of their residential or commercial property.

Features

  • Flexible financing upto 90%
  • Flexible repayment term of upto 25 years
  • Competitive Interest rates

 

Benefits

  • Allows you to acquire the value of the property while still retaining ownership
  • A low contribution hence less financial stress in the onset.
  • Competitive interest rates.
  • Comprehensive Home owner’s Life, fire & house insurance cover.
  • Long tenors to make repayments stress free
  • National bank accelerated payments which enables customer to pay off loan sooner than stipulated in construction loan agreement.
  • Access to dedicated mortgage specialists.

 

Rates / Pricing

  • Appraisal fee – 1% of loan amount.
  • Stamp duty on transfer – 4%
  • Legal fees – based on Advocates remuneration order
  • Valuation fees – Approx. 0.4% of property value
  • Insurance (Life & Fire) – 0.5% of Mortgage cover
  • Debit income ratio – 65% of net disposable income
  • Interest rate – 15.45% on reducing balance

 

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