Subscribe to special housing scheme – Government workers told
The government is offering its employees a housing mortgage facility at an interest rate of of 11.9%
Public service workers have been advised to take advantage of the various housing schemes rolled out by the government.
Read full article The government of Ghana is offering its employees a housing mortgage facility at an interest rate of 11.9%.
Real Estate Developer and Managing Director of Blue Rose Limited, Eric Ebo Acquah, is, therefore, appealing to all government workers to subscribe to the facility.
Speaking to Joynews, Eric Acquah mentioned that government workers should acquire their own houses on the back of such an attractive mortgage facility.
“We have something called a public sector housing scheme that is running. It’s the government that has given certain banks money to give affordable houses to public sector workers, but many people don’t know about it. It is a subsidized interest rate,” he said.
“The rate is about 11.9% whereas the normal interest rate is about 24%, but this particular one is subsidised by the government. So I’ll encourage all public sector workers to take advantage of it,” he stated.
Government in its 2007 Budget mandated Republic Bank and two other banks to provide an affordable home ownership scheme for public sector employees.
Last year, government reintroduced the scheme to offer Special Mortgage Loans to Civil Servants and Public Sector Employees in Ghana.
The Maximum Loan Tenor is 20 years. The debt Service Ratio is up to 50%.
The Scheme works in partnership with Real Estate Developers including Blue Rose Limited, Adom Estate among others to provide affordable housing units to meet the mortgage loan offer.
