Stanbic Home Loans – Mortgage Service

Stanbic Home Loans – Mortgage Service

Stanbic Home Loans

A personal mortgage is for customers who want to buy or build their dream home and pay back their loan over a long term. To help you achieve this important life ambition, we offer various home loan solutions that enable you buy or build the property of your dreams.

  1. Home purchase: For the outright purchase of turnkey properties for primary accommodation
  2. Developer construction: Purchase of residential properties from our preferred developers where property you want to buy is still under construction. We pay in stages to enable the developer to complete your dream home.
  3. Employer Group Mortgage Schemes: Developer-based home construction on your land bought under organisation block lands schemes.
  4. Equity release: Enables you to unlock the value in your existing property by taking a loan and using the cash released for a variety of personal needs, including the purchase of another home or prime land, business expansion or funding education.
  5. Home improvements: Enables you to expand, remodel or renovate your existing property.
  6. Refinancing: Our refinancing options include the following:
    i. Internal Refinancing: Enables you to arrange new financing terms such as currency, amount and term of your existing Stanbic Home Loan
    ii. External Refinancing: provides financing to take-over existing home loans from other financial institutions
    iii. Cash-Out Refinancing – enables you to access extra money if the value of your property has appreciated over the years.

Loan term: 5 to 20 years. You must be under 60 years by the 240th month.

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Maximum loan amount: No maximum limit. (Depends on your income).

Maximum financing terms

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  • Home Purchase/Developer Construction/Employee Mortgage Scheme
    – 80% of property value within Greater Accra Region
    – 70% of property value within Kumasi and Sekondi-Takoradi Metropolitan areas.
  • Equity release

– 70% of property value – Greater Accra Region
– 60% of property value – Kumasi and Sekondi-Takoradi Metropolitan areas

– 70% of property value – Greater Accra Region
– 60% of property value – Kumasi and Sekondi-Takoradi Metropolitan areas
– 100% takeover of full mortgage loan amount with other banks.

Home improvements
– We finance up to 80% of bill of quantities or pro-forma invoices.

Payment frequency: Monthly.

Loan currency: We finance either Ghana cedi or USD mortgages.

Repayment conditions
Loan must be repaid in full over an agreed period by:
i. Standing order from a Stanbic Bank salary account
ii. Direct payroll deduction by employer (Workplace Banking Schemes).

Interest rate
Competitive variable interest rate in Ghana cedis, US dollars, GB pounds sterling or euro.


On approval of your home loan, you need to take out compulsory life insurance and property insurance against fire and other perils.

Facility fee of 2% charged on approved loan amount.

  • Work for any Stanbic profiled organisation
  • Earn a minimum net salary of GHS2,000 or USD1 500 a month
  • Be permanently employed
  • Be a high net worth individual considering buy-to-let options
  • Be over 21 years and under 60 years by the end of the loan term.
    · Fill in a Home Loan Application form and attach the following supporting documents:
    · Proof of income – past three months’ payslips
    · Proof of past two years’ employment
    · Proof of identity – passport, driver’s licence, Voter’s Identity Card
    · Proof of residence
    · Offer letter from developer (for Home Purchase, Developer Construction and Employee Mortgage Scheme)
    · Bill of quantities, building plan and permit (for home improvement and developer construction)
    · Property title documents (To begin title search)
    · A Valuation Report from one of our approved valuers will also have to be given to us
    · Loan will be approved subject to a positive credit bureau report
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