ORDINARY MORTGAGE LOANS
Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements.
Requirements
- Applicant to open an account with POSB
- Proof of acceptable income (Proof of Savings or Payslip)
- Copy of Title Deed of the property
- Agreement of Sale signed by all parties
- Proof of Deposit (25% of Selling Price)
- Proof of Survey where Title Deeds are not yet available
- Original Identity Document such as National ID, Passport, or Driver’s License and a clear photocopy of the same.
- Copy of Approved Building Plans, Quotation for materials from reputable suppliers, and labour (for building loans).
- Quotations for the proposed improvements (for home improvement loans).
Benefits
- Low-interest rate.
- Long repayment periods.
- Short turnaround time for processing loan applications.
