Starters Mortgage
Buying your own plot, renovating your home or build a new home on your own plot is possible with the Starter Mortgage with a maximum financing of SRD 1,600,000.00 at 7%.
The STARTERS MORTGAGE offers you the opportunity for:
- Purchase a plot: Strictly to build a house for personal residence
- New construction: Construction area of at least 40m² and a maximum of 150m²
- Key-ready home: Construction area up to a maximum of 150m²
- Renovating or expanding an existing home: Up to a maximum size of 275 m²
- Your own or joint (with your partner/other half) income is a maximum of SRD 50,000.00
- You have been employed permanently by the government or a reputable company for 2 years or more
- Duration minimum 10 years and maximum 20 years
- Term for purchasing a building plot up to a maximum of 5 years
Requirements
- Valid ID (E-ID / Driver license / Passport)
- Birth Certificate (not older than six (6) months) and declaration of Nationality
- Employer statement + recent payslip
- Last 3 bank statements
- Plot map/mortgage extract of the land on which the house is located
- Budgeting of construction activities by a registered contractor and KKF extract from the contractor
- Building permit and approved construction drawing and
- Disposition / deed of transfer of the plot that is taken as collateral
- Current account at Trustbank Amanah for salary deposit
Is the application for a company (SME/corporate)? Then you also need:
- KKF/Articles of Association/Procuration scheme
- Permit
- Financial figures/Annual accounts
More information?
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