Purchasing loan
A home loan is for clients who wish to purchase a first home, second home or invest. It is for the outright purchase of a turnkey property or primary accommodation. Buying an already existing property.
How to get it
- You can visit the nearest branch or contact Home Loan Consultant for details on how you can be assisted on +266 2221 2754/56.
- You can also call the Standard Lesotho Bank Contact Center for guidance on 8002 2221, or 2221 2221.
What it costs
- Personalised interest rates.
- Interest rate is variable and attached to the prime lending rate.
- Interest is calculated daily and debited to the account at the end of the month.
- A once off initiation fee is charged for new loans.
- A monthly service/ management fee is charged.
- Early settlement fees (1 month interest).
- Legal fees is paid to the Bank appointed lawyer.
- A full range of charges can be found in the latest Pricing Guide.
How it works
- Individuals 18 years or older.
- Minimum joint net monthly income of 45/50% and 50/60% for single monthly net income.
- Proof of identity: Valid Lesotho ID/ Passport.
- Proof of income: recent payslips.
- 6 months certified bank statements (if using another bank).
- Proof of employment: Letter for employer confirming employment terms
- The property must be assessed and a suitable value found. A Valuation Report from one of our approved valuers.
- Sale Agreement (for Home Purchase, Developer Construction).
- Property Title documents (For title search).
- Loan will be approved subject to a positive credit bureau report.
Product benefits
A property is a valuable asset.
Invest in something concrete and move in to your own home with our 70% to 100% mortgage financing.
Product details
- Between 70% and 100% finance of the properties market value. It caters for 100% sale price plus the closing costs such as Stamp Duty and Legal Fees.
- Minimum loan amount – M 100,000.00.
- Minimum Property value – M 250,000.00.
- There is no maximum loan amount – dependent on affordability.
- Debt to income ratio – should not exceed 50/60% of net salary.
- The bank will finance the Deposit, Stamp Duty and Legal Fees required to own the property.
- Loan term up to 20 years.
- Debit orders are preferred for monthly repayments from a Standard Bank salary account.
- Monthly instalments include - reduction of capital, interest, monthly service/management fee, insurance.
- The home loan can be terminated at the end of the agreement or early settlement.
-
How to get it
-
What it costs
-
How it works
-
Product benefits
-
Product details
- You can visit the nearest branch or contact Home Loan Consultant for details on how you can be assisted on +266 2221 2754/56.
- You can also call the Standard Lesotho Bank Contact Center for guidance on 8002 2221, or 2221 2221.
- Personalised interest rates.
- Interest rate is variable and attached to the prime lending rate.
- Interest is calculated daily and debited to the account at the end of the month.
- A once off initiation fee is charged for new loans.
- A monthly service/ management fee is charged.
- Early settlement fees (1 month interest).
- Legal fees is paid to the Bank appointed lawyer.
- A full range of charges can be found in the latest Pricing Guide.
- Individuals 18 years or older.
- Minimum joint net monthly income of 45/50% and 50/60% for single monthly net income.
- Proof of identity: Valid Lesotho ID/ Passport.
- Proof of income: recent payslips.
- 6 months certified bank statements (if using another bank).
- Proof of employment: Letter for employer confirming employment terms
- The property must be assessed and a suitable value found. A Valuation Report from one of our approved valuers.
- Sale Agreement (for Home Purchase, Developer Construction).
- Property Title documents (For title search).
- Loan will be approved subject to a positive credit bureau report.
A property is a valuable asset.
Invest in something concrete and move in to your own home with our 70% to 100% mortgage financing.
- Between 70% and 100% finance of the properties market value. It caters for 100% sale price plus the closing costs such as Stamp Duty and Legal Fees.
- Minimum loan amount – M 100,000.00.
- Minimum Property value – M 250,000.00.
- There is no maximum loan amount – dependent on affordability.
- Debt to income ratio – should not exceed 50/60% of net salary.
- The bank will finance the Deposit, Stamp Duty and Legal Fees required to own the property.
- Loan term up to 20 years.
- Debit orders are preferred for monthly repayments from a Standard Bank salary account.
- Monthly instalments include - reduction of capital, interest, monthly service/management fee, insurance.
- The home loan can be terminated at the end of the agreement or early settlement.