Mortgage Manager at Stanbic Bank Ghana, Anna Panti, has advised home-owners to make the most out of their mortgages by turning them into revenue generating properties. Mrs. Panti made this assertion at a mortgage clinic for realtors and potential home owners at the Stanbic Heights at Airport in Accra.
According to her, mortgages must not necessarily be a debt hanging around the necks of customers. Home owners can make money from their mortgages by renting out their properties. “Landlords make money while sleeping. In the same way, mortgage home owners can turn their properties into money making properties by renting them out,” Ms. Panti said.
The clinic also gave realtors the opportunity to exhibit their properties and network with prospective home-owners. Anna Panti noted that the duty of the bank, as a universal financial services organization, includes ensuring that their customers and the public are given all the information necessary not only for informed decisions but also how to make money from their mortgages.
“Our duty to our customers and the public goes beyond asset financing. It covers all other non-banking financial services, including advisory services and the provision of platforms for customers and vendors to interact and form business relationships,” Mrs. Panti said.
The event brought together real estate developers, retailers, housing experts and mortgage specialists to interact and educate the public on taking informed decisions about real estate. Stanbic Bank offers a bouquet of mortgage financial services such as home purchase, developer construction, employer group mortgage schemes, equity release, home improvements, and refinancing offered by the bank.
Earlier this year, Stanbic Bank launched a mortgage scheme for Public Sector Employees in collaboration with the Ministry of Finance. The scheme partners real estate developers to build two-bedroom houses that will not cost more than GH¢150,000. The subsidized mortgages will be for a maximum repayment period of 20 years and at an interest rate of 12 percent per annum. As part of the package, the bank has engaged an insurance provider to offer subsidized property and life insurance policies for all beneficiaries. In all, about 200 customers attended the mortgage clinic.