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MBABANE – Owning property has never been easy for most people, especially if such an attempt is made in January.
During this month, people are financially strained since they have to pay school fees and other related expenses.
The Swaziland Building Society (SBS) has come up with a solution to this by offering home loans without a deposit.
The loans are repayable over a maximum period of 25 years for a house and a maximum period of 10 years for a vacant plot.
SBS Manager Marketing Veli Dlamini said most people wait far too long to purchase a home or land and in the worst-case scenario, some end up not owning a home or property yet SBS has made it possible.
Dlamini highlighted the one factor that made the society to stand out from the rest, which is the zero per cent deposit.
He said: “It is a standard home loan requirement in our industry that customers commit a deposit of 10 to 20 per cent upfront. This means that we are currently financing at 100 per cent value of the property.”
Residential
“You could be a married couple, young professional, single parent or an adult who wants property for residential or investment purposes; the SBS has made it better by offering home loans at zero per cent deposit,” Dlamini added. He mentioned that the types of loans on offer are residential home loans for both vacant land and completed houses.
“Considering the difficult economic times, the SBS have decided to offer customers some relief by providing 100 per cent finance for home loan applications. These are home loans that will be offered at zero per cent deposit from January 16 to March 30, 2023,” he said.
Dlamini said the SBS as a stable home loans expert that initiated applications with a genuine intention of adding value to customers in a sustainable way.
“SBS property finance is designed to meet different customer needs. These are loans for properties on titled land usually situated in urban areas and 99-year leased, usually on farmland for both residential and rental purposes,” he said. Eligibility is based on one’s monthly income, age and existing loan deductions.