HFC Bank to simplify mortgage loan

…introduces mortgage loans for land acquisition

HFC Bank Ghana Limited has promised to make Mortgage loan processes simpler and faster to provide a better experience for existing and new applicants.

This according to the bank, will cut short the long and cumbersome process new and prospective applicants for mortgage go through to access the available facilities on the market.

Speaking to the B&FT at the sidelines of an HFC Bank Mortgage Seminar in Accra, the Managing Director of HFC Bank, Anthony Jordan explains the bank in 2018 will be targeting competitive mortgage offers including simpler processes which will make home ownership comforting.

“Our Vision for 2018 and beyond is to make the mortgage process simpler for all our customers. We want to provide a better experience for applicants in the mortgage process. That is why this stakeholder’s engagement is very important, that is why we have engaged key facilitators to present and discuss with us areas that stymied the process and cause difficulties and challenges in the timeliness of disbursement. We are also seeking to provide mortgage options for our customers,” he stated

Mr. Jordan therefore disclosed that HFC Bank had introduced mortgage loans for Land Acquisition, “we need to appreciate that Property Investment is not just about building investments. It is also about land investments. This would also offer customers the needed collateral should they wish to avail of mortgage equity financing in the future.”

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The bank also in addition, has introduced financing options such as construction loans, bridge financing and others.

The Managing Director indicated his confidence about the outcomes of this seminar as it was expected to gear the focus on improving the bank’s business relationships and making the mortgage process simpler for its customers.

Ghana is currently facing a housing deficit estimated at 1.7 million minimum which has been blamed on the high cost of mortgages and the cumbersome nature of applying for a facility.

Meanwhile the Bank ruled out any fears of losing competition in the mortgage industry to new entrants GHL Bank, formally Ghana Home Loans Limited.

Managing Director of HFC Bank, who rather welcomed the GHL Bank to the market stated that considering the huge housing needs of the Ghanaian, allows for the new providers who will help stem the housing deficit.

He stated that HFC Bank the pioneer in mortgage, was well positioned to attract more Ghanaians to do businesses with them

GHL Bank, formerly Ghana Home Loans was launched recently with the aim of providing competitive mortgage offers to Ghanaians targeting the middle class and the ordinary Ghanaian who even wants to save towards having a decent home in the future.

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