SBS offers no deposit property loans

SBS offers no deposit property loans

MBABANE – Owning property has never been easy for most people, especially if such an attempt is made in January.

During this month people are financially strained since they have to pay school fees and other related expenses.

Swaziland Building Society (SBS) has come up with a solution to this by offering home loans without a deposit.

The loans are repayable over a maximum period of 25 years for a house and a maximum period of 10 years for a vacant plot.

SBS Manager Marketing Veli Dlamini said most people wait far too long to purchase a home or land and in the worst-case scenario, some end up not owning a home or property yet SBS has made it possible. 

Dlamini highlighted the one factor that made the Society to stand out from the rest, which is the zero percent deposit.

He said: “It is a standard home loan requirement in our industry that customers commit a deposit of 10 to 20 per cent upfront. This means that we are currently financing at 100 per cent value of the property.”

“You could be a married couple, young professional, single parent or an adult who wants              property for residential or investment purposes; the SBS has made it better by offering home loans at zero per cent deposit,” Dlamini added.

He mentioned that the types of loans on offer are residential home loans for both vacant land and completed houses.

“Considering the difficult economic times, the SBS have decided to offer customers some relief by providing 100 per cent finance for home loan applications. These are home loans that will be offered at zero per cent deposit from 16 January to 30 March 2023,” he said.

Dlamini said the SBS as a stable home loans expert that initiated applications with a genuine intention of adding value to customers in a sustainable way. 

“SBS property finance is designed to meet different customer needs. These are loans for properties on titled land usually situated in urban areas and 99-year leased, usually on farmland for both residential and rental purposes,” he said.

Eligibility is based on one’s monthly income, age and existing loan deductions.

The loan is open to first time buyers and existing customers who want to acquire new property (new loans).

In order to apply for a loan a person must produce their pay slip, identity document (ID), proof of residence, a three-month bank statement, a Deed of Sale, a confirmation of employment and a valuation report by valuer accredited by SBS.

These loans can be applied for at the Society’s Home Loans office located at Asakhe House, Ground Floor in Mbabane; Executive Suites found at Asakhe Mbabane, Gables Branch Ezulwini and Sikhulile House Manzini and SBS branches situated in the country’s major cities and towns.

What is required during application process:

• Your age

• Pay slip/proof of income 

• Three months bank statement 

For more information, kindly visit your nearest SBS branch or contact Call Centre 24041313 or email Alternatively, customers can also contact our mortgage office by email or call 2405 6119.

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SBS offers no deposit property loans
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