FNB Home Loan Launch Presentation

7/21/2019 FNB Home Loan Launch Presentation

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FNB Home LoansLaunch 2015


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FN Home Loans Launch 2 March 2015 | Dar es salaam Serena Hotel

Supply & Demand of houses

Keep it simple

Tanzania is currently experiencing a boom in the commercial and residential

property with a GDP growth estimated at 7 .


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What we need......... By Dec 2013 total in country mortgage debt stood at TZS. 156 billion

and the average mortgage debt size being TZS. 62 million ($38,000).

The mortgage market continued to grow steadily with an annual growthrate of 46%


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Currently there are about 3,000 mortgage loans which have been issued by various banks

Currently there are about 3,000 mortgage loans which have been issued by various banks The majority of these fall in the affordable housing sector

With wider availability of properties, we will see the mortgage market evolve in a very shortperiod of time.

The major constraint many people face is the unavailability of surveyed land

Another constraint we hope to curb is the unavailability of finance solutions for mostTanzanians when nit comes to home ownership.

Current situation:


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Types of Home Loans:

1. Traditional home loan

2. Home equity loan

3. Home Completion loan

4. Home loan switch


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This allows the applicant to purchase off plan or finished propertyof their choice and repay it back slowly over a period of 20 years

Applicant of loan becomes immediate owner of house and can use the

property immediately

Security for the loan will be the house itself

Applicant can use acquired property to earn additional income byrenting the property.

Traditional home loan


7/11FN Home Loans Launch 2 March 2015 | Dar es salaam Serena Hotel

An existing home owner can put their house at FNB as collateralagainst a loan

Funds received can either go back to the property through renovation,revamping or can be used pay off other loans

Funds received can go into other investments, paid back over 20

years.

Applicant is not required to put down a deposit for equity loan

Home Equity Loan:



Applicant can obtain funds to use in the completion of a residentialhouse that is still under construction

Applicant of loan with the contractor then have 12 months to completethe house

Security for the loan will be the house being completed

Property in this loan can be partly finished and FNB will get it to100% complete.

Home Completion loan:



Applicant is able to switch their mortgage to FNB where they canenjoy better rates, terms and service

Applicant of loan needs to show ability to repay and must be the

rightful owner of a finished residential property

Security for the loan will be the house being transferred to FNB

Applicant can get an amount higher than that outstanding at the otherbank.

Home Loan Switch


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20 years repayment periodLTV of up to 90%

Competitiverate

Approval within 3 days



Happy house hunting

Use high qualitygraphics- No clipart

FNB Home Loan Launch Presentation

Documents

Transcript of FNB Home Loan Launch Presentation