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Stanbic Bank rolls out mortgage scheme for public sector employees

Comment: GREAT INITIATIVE- Publish Guidelines.

Author:
Kwaku A. Danso
Date:
2019-01-31 20:09:50
Comment to:
Stanbic Bank rolls out mortgage scheme for public


Great idea and initiative of the Government! But will it be open and transparent?
Don’t let us make this too complicated and demand and introduce bribery as usual!
PLEASE Publish the Underwriting guidelines so that potential applicants know what thwy need. Example,
1. 2 years income verification
2. Loan to value ratios, meaning what percentage customers have to put down of their own money;
3. Payment to income ratio- meaning what percentage of income will be allowed to be applied towards the home mortgage payment
4. Process for placing liens on land Title!
5. Estimated time for loan approval

I also thin the loans should ne made available to those whonhave already startes their homes and left uncompleted, that the loans can help them complete and possibly rent part to help meet the housing challenge.

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