From renting to owning a home – Leap of faith

Leap of faith - Owning a Home

Date: 10 October 2015

Taking the step to owning your own home is exciting and can be overwhelming without clear guidance. It's a real leap of faith and is sure to change your life forever.

Taking the step to owning your own home is exciting and can be overwhelming without clear guidance. It's a real leap of faith and is sure to change your life forever.

At BSP, a team of mortgage specialists are dedicated to help many prospecting homeowners find the right home loan package and guide them to unlocking doors to their new homes.

If you're looking to buy a new home, buy vacant land, construct a new home or refinance from another financial institution, then a BSP EasyHome Loan is the choice for you.

BSP EasyHome Loan customers enjoy Fiji's lowest fixed home loan interest rate of 3.95% for six months, a 1 or 2 year fixed interest rate of 4.5 %, and 2 year fixed interest rate of 5.45% and a variable interest of 6.25 %. In addition, customers will receive a 3-month waiver on House and Content Insurance Premiums.

While, a burrower's contribution for a home loan may vary across banks, at BSP, customers are advised that the higher the initial contribution, the better it is for them. This will mean a lower monthly repayment for them and also helps them with managing debt and save on interest factor.

Personalised Banking Service

Each person reaching out to BSP for a home loan is met with a personal banker or mortgage specialist who will tailor-make a home loan package to suit their needs.

Better still, they are prepared to visit customers at their preferred location at a time convenient to them. The idea is to allow us to offer the service in a comfortable setting so customers get mre out of engaging with BSP.

For those curious about BSP's EasyHome Loan offer, below are few features to consider:

  1. Buying a readily constructed home

Term of Loan - up to 30 years depending on your retirement

Contribution - minimum of 20 %

Fixed and variable rates are available.

An authority to the bank to make direct deductions

A joint burrower's option is available

 

  1. Buying vacant land

Term of loan - up to 7 years and construction within 3 years.

Contribution- Minimum 30% of purchase price, plus bank fee, insurance and legal costs.

Interest rate is variable rate only.

 

A BSP, credit decisions on home loans are made within 48 hours if all prerequisites are met. There are no monthly service fees and customers receive a 3-month waiver on house and content insurance premiums.

An in-house documentation team assists BSP home loan customers by acting as a liaison wth 3rd parties to help reduce costs and at the same time avoid the frustrations of run-arounds. Home Loan customers are also entitled to a Master Card or personal overdraft facility.

Taking a home loan is a long term commitment but it is more than just putting a roof over your head. BSP is helping individuals and families grow by building equity in an asset that will grow in value.

For more information on BSP's Home Loan, customers are welcome to call BSP Customer Care Center on 132 888.