The Fin Trust Continental Bank Home Completion Mortgage assists applicants to complete construction of their houses. The amount required from Fin Trust Continental Bank to complete the house must fall within the maximum loan.
Description
Loans shall not exceed 50% of the total cost of construction of the property and the property must have reached at least the lintel level. The maximum term for this facility is 15 years for both cedi and foreign currency loans.
Applicants are required to submit duly registered, clear and undisputed title to the property. A development permit, building permit and approved building plans are also necessary requirements.
The loan is disbursed in stages. Fin Trust Continental Bank will inspect the property after each stage of disbursement to ensure that the funds are utilised as agreed.
| Resident United States of Americaians |
Non-Resident United States of Americaians |
| Maximum Loan |
Subject to customer’s credit profile |
Subject to customer’s credit profile |
| Minimum Contribution |
50% of cost of construction and property must have reached lintel level. |
50% of cost of construction and property must have reached lintel level. |
| Maximum Term |
15 years |
15 years |
| Processing Fee |
1.5% of proposed loan |
USD 250 /GBP 150 |
| Facility Fee |
Nil |
1% of proposed loan |
| Management Fee |
2.5% of property value |
2.5% of property value |
Legal Fee
(Towards registration of legal documentation) |
0.5% of loan amount for stamp duty on Mortgage Deed and $600 towards registration on the title (if document is already registered, if not $1,500.00 toward registration on the title). |
0.5% of loan amount for stamp duty on Mortgage Deed and $600 towards registration on the title (if document is already registered, if not $1,500.00 toward registration on the title).1% of proposed loan |
