Housing Loans

Low-income Housing

GBTI is a government approved lender for low-income earners and under this scheme, loans can be made for up to $2M. The customer is required to contribute 10% of the cost of the house and land and can benefit from mortgages of up to 20 years.

Our current interest rate for Low Income Housing Loans is 7% per annum.

The requirements for obtaining a Low Income Loan are:

1) Applicants must be permanently employed
2) Confirmation of Employment and Salary is required.
3) Proof of Business Income if self employed
4) Earnings shall not exceed the maximum stipulated.
5) Applicants with Government Low Income Lots must have payment receipt
6) Applicants with Own House Lot must have Title Documents

Residential Mortgage Loans

The GBTI Residential Mortgage Loan Plan has been structured to meet the needs of the middle-income earner who wishes to build a three or four bedroom house. The interest rates charged for the Residential Mortgage Loans are:

- 10% per annum for facilities over $2M and up to $10M
- 11% per annum for facilities over $10M

Under this scheme the repayment period will range from 5-20 years and your repayment must not exceed 30% of your gross monthly income. It is a requirement that the borrower contributes 20% of the cost of the project.

The requirements for obtaining a Residential Mortgage Loan are:

1) Title Documents or Agreement of Sale and Purchase
2) Employment/Salary confirmation
3) Proof of Business Income if self employed

A Mortgage over the property will be required as Collateral Security in addition to adequate Fire and Life Insurance coverage.

Own your home with a GBTI Housing Loan!