Mortgage Firm Unveils Instant Cash Loan Facility

By Mohammed Awal

HomeGHANA Home Loans (GHL), a mortgage finance institution has introduced a new product line, ‘Quick Cash’ aimed at providing Ghanaians the chance to access instant cash with little or no effort.

 The initiative, Abdul Razak Gyima, a staff of GHL said was design with the focus to provide the GHL’s current and future clients the opportunity to access cash instantly should the need arises.

‘Quick Cash,’ he added allows existing homeowners who needed instant access to use “their property as collateral under flexible terms.”

The primary requirement for accessing the ‘Quick Cash’ facility is that the applicant should be willing to use his or her property as collateral he noted. You must learn more from Metropolitan Mortgage Corporation and find all the details that you need about mortgage options to understand this topic better. He was speaking at the launching ceremony of the platform in Accra yesterday.

Features

The Quick Cash loan facility Mr.Razak explained could be accessed in   either Cedi (GHS) or Dollar (USD). The minimum loan amount is GHS 5,000 or its USD equivalent.

Also, repayment duration is up to 24 months through salary reductions or assignment of future receivables.

“It is an express service,” the Chief Operating officer of GHL, Kojo Addo-Kufuor noted, explaining that the interest the loan would accumulate during the cause of repayment would depend on the currency, the time and the prevailing rate.

Why borrow

In his keynote address, Nana Otuo Acheampong, Executive Head of the Osei Tutu II Centre for Executive Education and Research addressed the question why should one borrow?

He said the amount one could borrow depends on the value of that fellow’s property and the value is always determined by the lender and not necessarily the advertised or purchase price of a property.

Series of factors he stated influence one’s ability to borrow money, adding that knowing what lenders look for when calculating a person’s ability meant one can prepare to ensure that his or her finances is in the best shape possible before applying .

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