A house is more than just an investment – it’s a place to call home and create memories that will last a lifetime.Invest in your future with a Standard Lesotho Bank home loan! We have simplified the process of buying, building or improving your home by designing many different options which will make the process of house hunting and buying easier.

With a Standard  Lesotho Bank home loan, you will be able to build or buy a new home with the minimum of hassle!

Features and benefits

• You can apply for a minimum of M100, 000 and the maximum loan will be determined by how much you qualify for.
• The loan is payable in a maximum of 20years
• You can apply for the principal increase on your existing home loan depending on the market value of the property (we finance up to the market value of the property)
• You can apply for Access Bond on your existing home loan whenever you need access funds.
• You are required to take out the home owners insurance on your home loan or cede your own policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be settled in full in the event of death.
• The interest rate is linked to Prime lending rate and based on your risk profile
• When the prime interest rate changes, your minimum repayment amount also changes in line with the prevailing prime interest rate.

Who can apply

You can apply for  your Home Loan through Private Banking provided you:

• Have been permanently employed for a period of not less than 2 years
• Earn a net monthly income of M23,800 or above
• Are a citizen of Lesotho aged between 21 and 60 years or 65 years (if pensionable at 65 years old)
• Temporary resident aged 21-60 years and provided you buy/build property, and the loan should be payable within your contract period.

How to apply

Your Private Banker will handle your application, and ensure that credit assessment is done on your behalf.  You will need to provide the following documentation :

• your identity document
• proof of income
• your bank account details
• your employer's details
• any existing Standard Lesotho Bank home loan details if applicable

Documentation for building a house

• Lease
• Properly designed plan
• Building Permit
• Contractor’s quotations (Contractor must submit the following: traders licence, licence from Ministry of Works, Income tax clearance certificate, references)
• Proof of Income
• Identification
• Ministerial consent to mortgage from LSPP
• Down Payment
• Where the arrangement is “turn -key”, the builder should provide an audited set of financials and credit reference if necessary

Documentation for purchasing a house

• Lease
• Deed of Sale drawn by an Attorney
• Proof of Income
• Identification
• Down payment

Documentation for Home Improvement

• Lease
• Properly designed plan
• Building Permit
• Contractor’s quotations (Contractor must submit the following: traders licence, licence from Ministry of Works, Income tax clearance certificate, references)
• Proof of Income
• Identification
• Ministerial consent to mortgage from LSPP
• Down Payment

Where the arrangement is “turn -key”, the builder should provide an audited set of financials and credit reference if necessary.