Helping buyers with a low deposit to purchase a property, using security provided by their family or combined incomes of mortgage applicants (who would have not qualified individually). The principle behind our family assisted mortgage is simple. It helps families help their family members take the first step on the property ladder.
Note that, our family mortgage is slightly different from our guarantor mortgages, although they have similarities. Family mortgage can be a guarantor mortgage but not all guarantor mortgages are family mortgages. Joint applications between married couples are not family mortgages. Our family mortgages can be between parents and children (evidenced with marriage certificate of the parents and date of birth of the children), or be between direct siblings [sisters, brothers, sister(s)-brother(s)].
Our family mortgage cannot be between cousins or any distant familial relations.
Features / Benefits
• For purchase of a house or build one on your own land.
• Only one applying member of the family needs to be a SSNIT-registered Salaried Worker with a net monthly monthly income above GHS2,000. Other family members can be informal sector workers with income.
• Maximum LTV: 80% (Up to 100% available if all applying family members are SSNIT-registered Salaried Workers).
• No Closing Cost available for this type of mortgage, but cannot co-exist with a 100% mortgage.
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