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Home Loan

A house is more than an investment – it’s a place to call home and create memories that will last a lifetime. Invest in your future with a Standard Lesotho Bank Home Loan. We have simplified the process of buying, building or improving your home.

What it offers you

·        A minimum loan of M100 000; maximum loan M10 000 000

·        Loan is payable for up to 20 years

·        You can apply to increase the principal amount on your existing home loan depending on the market value of your property

·        You can apply for an AccessBond on your existing home loan whenever you need extra funds

·        You need to take out mortgage protection cover  or cede your own policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid in full in the event of death

·        The interest rate is linked to the prime lending rate and is based on your risk profile

·        When the prime interest rate changes, your minimum repayment amount changes in line with the prevailing prime interest rate. 

  • TOTAL  MONTHLY EXPENSES ON THE CALCULATOR REFERS  TO ALL DEDUCTIONS ON THE PAYSLIP

 

What you need to apply

You can apply for an access bond on your existing home loan whenever you need extra funds provided you have repayment ability.

You need to take out Mortgage protection cover  on your home loan or cede your own life cover policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid fully in the event of death or permanent disability. 

 

  • A minimum loan of M100 000; maximum loan determined by your repayment ability
  • Maximum term for up to 20 years depending on the age of retirement and contract term if on contract
  • You can apply to increase the principal amount on your existing home loan depending on the market value of your property
  • You need to take out Mortgage  Protection Cover or cede your own policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid in full in the event of death
  • The interest rate is linked to the prime lending rate and is based on your risk profile
  • When the prime interest rate changes, your minimum repayment amount changes in line with the prevailing prime interest rate.
  • You can apply for an access bond on your existing home loan whenever you need extra funds provided you have repayment ability.
  • Homeowners cover protects your home against fire and allied perils.
  • Have been permanently employed
  • Earn a minimum net monthly income as per prescribed terms
  • Be a citizen of Lesotho aged between 21 and 60 years.

 

Visit your nearest branch with the following documents:

 

  • Your identity document
  • Proof of income
  • Bank account details
  • Employer's details
  • Any existing Standard Lesotho Bank home loan details, if applicable.

 

Documents required for:

 

Building a house

 

  • Lease
  • Properly designed plan
  • Building permit
  • Contractor’s quotations (Contractor must give us the following: trader’s licence, licence from Ministry of Works, income tax clearance certificate and references)
  • Proof of income
  • Identification
  • Down payment (if your employer doesn’t have a Group Scheme agreement with us)
  • Prestige and Private Banking pay no deposit
  • Evaluation report initiated by the bank

Buying a house

  • Lease
  • Deed of Sale drawn up by an attorney
  • Proof of income
  • Identification
  • Down payment
  • Prestige and Private Banking pay no deposit
  • Evaluation report initiated by the bank

 

Home improvement

  • Refer to Building Loan requirements

AccessBond

Allows you to draw capital repaid up to a set limit, relative to the registered bond

  • Existing home loan
  • Proof of income
  • Application form.

Equity release 

Equity release allow you to borrow money up to a maximum 80% of the value of your property.

Requirements:

  • Lease 
  • Proof of Income.

Call us on

+266 2221 2716

+266 2221 2754

+266 2221 2756

+266 2221 2738

Home Loan Calculator

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+266 2221 2221

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