WINDHOEK – Bank Windhoek says it will start offering 100 percent financing of home loans to first time buyers looking to purchase a house worth between N$500 000 and N$1.5 million. The bank says the decision is based on an effort to make it easier for Namibians to own their first home. “Thus no deposit is payable making home loan accessible for first time property owners,” the bank said.
Financing is available to existing and new clients where the client’s primary bank account is held with Bank Windhoek. The offer is also subject to the client’s affordability to make the monthly repayment of the home loan. Further the bank says the offer is only valid when the property being bought is the primary residence of the applicant and 100 percent financing of the purchase price or valuation, whichever is the lowest, is applicable.
“Bank Windhoek has been in the business of financing property for over 30 years and understands that first time home loan applicants do not always have the required deposit to make a big investment, such as buying a house. The 100 percent financing option will therefore make it easier for first time home loan applicants to buy their furst house and enter the property market as an owner,” the bank said.
By Staff Reporter