Start home ownership journey early

Why not start your property acquisition journey early in life?

Purchasing a developed or undeveloped property at a young age has several benefits compared to later in life and owning or buying one is not a mission.  Securing a property mortgage at a young age offers long-term financial and personal advantages such as increased potential for wealth accumulation, lower monthly repayments and long-term repayment period.   The advantages of building equity and wealth are of great benefit since you will be investing in your own property through mortgage payments and high return on investment on property appreciation.  The property appreciation benefits you when you decide to sell later in life or use your equity to acquire or develop additional property.

You also benefit from the sense of security and stability and a potential source of income in the event you decide to lease it out in future. When it comes to long-term planning, early mortgage can make early retirement possible and more flexibility to manage debt. The Swaziland Building Society (SBS) is always available to assist young professionals secure mortgage early in their lives.  The banking institution offers two key home loan products, which young people can explore to start an all important and rewarding journey.  These products are namely the Mortgage Loan and Home Plan Scheme. SBS Senior Mortgages Officer Phindokuhle Dlamini provides features for both Mortgage Loan and Home Plan.  Mortgage Loan (Home Loan – completed property, construction and vacant land – secured by title deed)

To apply, one needs the following:  

Proof of steady income (joint spouse income is also welcomed)

Calculating entitlement: pay slip, bank statement and ID for calculating entitlement and monthly repayment

• Application: Produce the following to start
• Deed of sale
• Proof of income
• Proof of residence
• Employment confirmation
• Bank statement

Home Plan (Rural & urban home loan secured against withdrawal benefits or pension)  wTo apply, one needs the following: 

Application: Produce the following to start:

• Your employer should have a scheme agreement with SBS
• Approval by employer and administrator of gratuity or pension
• Proof of income
• Proof of residence
• ID

Starting early is idea. To apply or enquire further contact the Mortgage consultants at 2405 6119 or email mortgages@sbs.co.sz and Home Plan consultants at 2405 6141 or email: khulekile.mazibuko@sbs.co.sz