INFORMATION gathered by the Daily Graphic from some mortgage companies in the country indicate that resident Ghanaians demand more for mortgages than those residing outside the country.
This is contrary to growing perceptions that non-resident Ghanaians are out-pricing mortgages in the country.
The Chief Operating Officer of Ghana Home Loans, Mr Kojo Addo-Kufuor is as a result of borrowing being the best option for most Ghanaians who want to acquire a home as compared to those living outside who have a lot of financing options to explore.
Mr Addo-Kufuor said in an interview with the Daily Graphic that in the demand portfolio of mortgages, local applicants were far above those outside because statistically there were more people living in the country now.
Mortgages, which provide prospective home owners the needed amount to purchase their prospective homes, is the order of the day in the country. Their high rates, however, discourage most people from acquiring houses.
Consequently, most people perceive that Ghanaians in the diaspora are actually out pricing the residents ones as they have a better understanding and can easily meet requirements by these mortgage financing companies.
Mr Addo-Kufuor, however, said “Ghanaians living in the United States or United Kingdom and can easily borrow from their savings, use credit cards or even remortgage their old houses to raise money to buy their houses.”
The situation, he said is different in Ghana where most people have to borrow to raise money.
In another interview, the General Manager in charge of Mortgage and Consumer loans at the HFC Bank Limited, Mr Charles Bonsu, debunked perceptions that non-resident Ghanaians have out-priced the local ones in acquiring mortgages.
He said the bank gave out its mortgages in cedis and its largest mortgage portfolio was being taken by Ghanaians.
“We at HFC Bank give out our mortgages in cedi terms and as such, most of our facilities are being taken by Ghanaians living here,” he said.
He was, however, quick to add that “HFC Bank does not give mortgages to non Ghanaians except in cases where they are married to Ghanaians and the application is a joint application. We also give mortgages to expatriates who are gainfully employed. The expatriates must have legal permits to work in Ghana. So that perception cannot be true.”
According to him, the bank has a mortgage facility from its several mortgage products to suit everyone.
He added, “HFC bank has a wide range of mortgages to suit different needs, whether you want to buy a home, build your own home, or make improvements on an existing home.”
The Chief Operating Officer of Ghana Home Loans, Mr Kojo Addo-Kufuor is as a result of borrowing being the best option for most Ghanaians who want to acquire a home as compared to those living outside who have a lot of financing options to explore.
Mr Addo-Kufuor said in an interview with the Daily Graphic that in the demand portfolio of mortgages, local applicants were far above those outside because statistically there were more people living in the country now.
Mortgages, which provide prospective home owners the needed amount to purchase their prospective homes, is the order of the day in the country. Their high rates, however, discourage most people from acquiring houses.
Consequently, most people perceive that Ghanaians in the diaspora are actually out pricing the residents ones as they have a better understanding and can easily meet requirements by these mortgage financing companies.
Mr Addo-Kufuor, however, said “Ghanaians living in the United States or United Kingdom and can easily borrow from their savings, use credit cards or even remortgage their old houses to raise money to buy their houses.”
The situation, he said is different in Ghana where most people have to borrow to raise money.
In another interview, the General Manager in charge of Mortgage and Consumer loans at the HFC Bank Limited, Mr Charles Bonsu, debunked perceptions that non-resident Ghanaians have out-priced the local ones in acquiring mortgages.
He said the bank gave out its mortgages in cedis and its largest mortgage portfolio was being taken by Ghanaians.
“We at HFC Bank give out our mortgages in cedi terms and as such, most of our facilities are being taken by Ghanaians living here,” he said.
He was, however, quick to add that “HFC Bank does not give mortgages to non Ghanaians except in cases where they are married to Ghanaians and the application is a joint application. We also give mortgages to expatriates who are gainfully employed. The expatriates must have legal permits to work in Ghana. So that perception cannot be true.”
According to him, the bank has a mortgage facility from its several mortgage products to suit everyone.
He added, “HFC bank has a wide range of mortgages to suit different needs, whether you want to buy a home, build your own home, or make improvements on an existing home.”
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