The Swaziland Building Society (SBS) has introduced a home loan facility that allows customers to access 100 per cent financing for the purchase or construction of residential properties.
This new initiative comes as a response to the challenges faced by many potential homeowners, who have struggled to raise the required deposits under previous loan structures.
Until recently, SBS would only finance up to 80 per cent of a property’s value, requiring clients to pay the remaining 20 per cent as a deposit.
Under the revised Residential Home Loan Parameters, SBS can now finance the entire property value, eliminating the need for a deposit.
The repayment period for housing loans is a maximum of 25 years, while the repayment term for purchasing land has been lengthened from 10 to 15 years.
SBS Senior Mortgages Officer Phindokuhle Dlamini described the new policy as a significant step towards making property ownership more attainable.
“This modification will make it easier for more people to own homes. Many customers were previously turned away because they could not afford the deposit, but now they can reapply under the new loan terms,” Dlamini explained.
She added that the 100 per cent home loan model officially came into effect in April 2025 and urged both new and returning customers to take advantage of the offer.
“We encourage customers to seize this opportunity to acquire property through this unique and flexible financing structure,” she said.
The loan facility applies to properties located on title deed land in urban areas and on 99-year leasehold land, typically farmland intended for both residential and rental purposes. Eligibility is determined by factors such as income, age and existing loan commitments.
Application requirements
Applicants must submit the following documents when applying for an SBS residential home loan:
- Proof of income (recent payslip, lease agreement for rental income or audited financials and six-month bank statements for companies)Confirmation or contract of employment.
- Deed of Sale or copy of title deed
- Valid identification document and proof of residence (utility bill)Property valuation report by an SBS-accredited valuer
- Insurance cover, including Mortgage Protection Policy and House-Owner’s Insurance, which are mandatory for loan approval
Repayment options
- Borrowers may choose from the following repayment methods:
- Salary deduction
- Internal stop order on an SBS account where the salary is deposited
- Debit order from an external commercial bank account
- Through this bold and inclusive financing model, SBS continues to reaffirm its commitment to making property ownership a realistic and achievable goal for every liSwati.
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