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Max. Rate: 12% p.a.
incl Cedi Mortgages
Repayment Period
Up to 30 years
No Upfront Fees
T&Cs Apply

Pension Mortgage

Pension mortgage is a type of mortgage in which the borrower repays interest only and also contributes to a pension plan designed to provide an eventual tax-free lump sum, part of which is used to repay the capital at the end of the mortgage period and the rest to provide a pension for the borrower's retirement. This is an extremely tax efficient way of repaying your mortgage that works. Pensions payments are tax free, so that is a big boost. It is also important to remember that you cannot draw down your pension until you are 60, so you cannot pay off your mortgage until this time.

This is typically for SSNIT-registered Salary Workers (Public/Private Sector). Acceptable repayment (investment) vehicles for capital payment include: Tier-2 Pension together with any of the following: Tier-3 Pension, Some other regulated Private Investment Plan. The return on any repayment (investment) vehicle must always be higher than 12.00% per annum.

No prior assignment of your repayment vehicle to us is not required as happens with some pension-backed mortgages.

 

Features / Benefits

• Low monthly repayments, only loan interest is paid and the principal loan capital or principal due at mortgage term and/or pension at age 60.

• Capital Reduction (Curtailment) allowed

 

Eligibility Requirements

Must be a SSNIT-registered salaried worker together with the other requirements here.

 

Differences between Pension Mortgage and Repayment Mortgage

The table below gives you a summary of the differences between the two

 

*
General Features
 
 
Pension Mortgage
 Interest-Only
 
 
Repayment Mortgage
 Principal + Interest
 
 

 


 

Related Mortgages

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Repayment Mortgage (Principal + Interest)

All Other Residential Mortgages

All Commercial Mortgages / Loans

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YOUR HOME (OR COMMERCIAL PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT - REPAYMENT ASSISTANCE PROGRAMME AVAILABLE FOR QUALIFIED CUSTOMERS. ALL APPLICATIONS ARE SUBJECT TO STATUS AND OUR LENDING CRITERIA - THIS MEANS THAT THE AMOUNT WE WILL LEND YOU WILL DEPEND ON YOUR INDIVIDUAL CIRCUMSTANCES, THE TYPE OF PROPERTY AND THE AMOUNT YOU BORROW.

We are Non-Deposit Taking No Upfront Fee Direct Lenders (not brokers). Terms, conditions and rules govern our operations, so if you disagree with any of them in part or in whole, please don't use our services. All loanable funds are private patient capital from dedicated sustainable and reliable sources and not sourced funds from the general public. We're Fully-Compliant: Our mortgages are structured as Seller-Financed Mortgages (SFM) and where applicable, as Commercial Mortgages, which do not require Bank of Ghana (BoG) regulation. Legal & Compliance Provided by TLA Firm & Ghanaian Partners. For more details, see Regulation & Compliance.

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