l ‘MyHome Loan’, the finest loan facility l – All your Questions Answered!
Standard Chartered Bank is pleased to introduce to you our medium to long-term mortgage loan facility, appropriately branded as ‘MyHome loan’. This premium loan facility has been created to enable you to:
- Purchase owner occupied residential property
- Complete constructions and / or improve development of owner occupied residential property
- Undertake home improvements
- Refinancing-moving from Bank A
- Cash out i.e. Top ups
- Equity release i.e. You have repaid your mortgage but want to use the house as security for money OR you have a house but want to borrow against it.
Our mortgages will satisfy;
- First time buyers
- Existing home owners who wish to upgrade
- Multiple home owners buying additional homes
- Permanent Residents
- Non-Residents
Mortgage features
- Extended/Flexible repayment period of up to 15 years
- Big loan amounts between 20m to 800 million
- Minimum credit line that encourages savings as a means of obtaining funds for consumer product purchases
- Maximum credit line that protects customers from over commitment.
- Flexible monthly repayments s of up to 40% of your net income
- Our interest is at Prime Base Rate (18.5%)
- Salary to be remitted through Standard Chartered bank
For your application to be complete, you will need the following;
- Original ID and copy of passport
- 3 passport size photographs
- Copy of utility bill for current residential address
- Certified bank statements for the last 12 months(for non-SCB customer)
- Letter from employer (if applicable)
- 3 pay slips (original or copy certified by the employer
- Photo of house
- Copy of title deed
- Sale Agreement( For Purchase)
- Valuation report
- Bill of quantities
- Copy of approved plan
Fees Involved
Arrangement fees: 1.5%
Stamp duty : 0.5%
Legal fees : 1 %( Negotiable)
Valuation fees : 0.25 %( Negotiable)
Insurance cover : 0.25 %( Negotiable)
Covered Areas
City landed developed property (Kampala and the immediate suburbs within 15km radius)
Urban developed property (Entebbe, Jinja, Mbale, Wakiso, Mukono and Mbarara)
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