First time buyers who clear the affordability criteria however do not have the minimum requested upfront contribution needed by the Bank may at present acquire and complete a property, through the Home Loan Assist launched by
He added, This product gives customers the opportunity to make home ownership more possible and reflects our commitment to provide home loans that further meet the particular needs of our customers .
The Bank said that customers may obtain financing through the assistance of a third party who would be prepared to pledge in favour of the Bank the amount required to make up for the shortfall in the required upfront contribution. The pledge will be released once the home loan would be reduced by the equivalent of such amount. In addition, a new term deposit account for the pledged amount is being exclusively offered that ensures a preferential rate to the party assisting in the home loan.
Most Popular Stories
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Stop-Start Engines Save Gas, Reduce Emissions
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Ukraine Says Russians Firing Across the Border
- Ford Q2 Net Profit up 6 Percent
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ricky Martin Joins 'The Voice ... Mexico'
- U.S. Weighs Refugee Status for Immigrant Kids
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges