Mortgage finance to suit your needs
Everyone values their home. After all, it is not just a place of comfort and security. It is probably one of the biggest investments you will ever make. That is why, whether you are buying a new property, improving your current home or releasing some of the value that it has built up, First Capital Bank provides mortgage finance to help you make your dream home a reality!
What options are available for me?
1. Outright Purchase Mortgage
This option is suitable if you need to buy a house. It is important to know that the property to be purchased should be used for residential purposes only. However, you may also wish to access home finance to purchase properties that will not necessarily constitute your main residential abode or dwelling. For example you may wish to own a holiday home, or are purchasing a domestic property primarily for investment purposes. Subject to the bank reasonably satisfying itself that the proposed purchase does not fall into the ‘Commercial’ category, such finance will be available.
An up-to-date valuation done by the bank’s recognised valuation firm shall be required to show whether the property is for residential or commercial purposes.
2. Equity Release
First Capital can help you access the capital locked into your home without needing to sell your property. We know you may already have a mortgage free house or you own more than one property. At some point in life you may need a large sum of money, be it for home improvements, furnishings, a new car, to boost your business or even to pay school fees. It is possible to convert some of the value that is locked up in your property into cash. Equity release is the solution!
The equity release solution is specifically designed for homeowners who have paid off their entire home loan to have access to the money locked up in their property to finance virtually anything without the need to sell their house.
It is easy to be eligible for a mortgage product.
All you need is to meet the following simple requirements
• Minimum age of 18 years
• Maximum age is 60 years or retirement age , whichever comes first*
• Agreement of sale (for outright purchase)
• 25% deposit (for outright purchase)
• Proof of residence
• Positive Identification (Valid Passport, National ID, Driver’s licence)
• Employed and earning a regular salary
*Full loan repayment should be made upon reaching the maximum age limit
Find out more about our mortgage finance schemes by completing the enquiry form or contacting your nearest branch.