Payments Option
PAYMENT OPTIONS
1. Cash Payment
2. Bank Financing
1 CASH PAYMENTS –
The company has an easy convenient payment plan for purchasing your home, please see below for information regarding our 1/3 Payment Schedule:
1/3 Deposit - upon the execution of the Agreement of Sale and Purchase
(The Company will commence the super structure works: preparation of land, building foundation and framework including finished concrete works, installation of windows & roofing material)
1/3 Installment- upon the covering in of the roof areas of the Villa.
(Finishes: Completion of ceiling, tiling, installation of electrical outlets & lighting fixtures, installation of bathroom & kitchen fixtures & faucets, installation of all doors external & internal)
1/3 Installment - upon the completion of the Villa and delivery of the building to the Purchaser.
Balance Payment of US$ 4,878 is required at the time of lease transfer (transfer of ownership for the property).
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2 BANK FINANCING -
Financing is available at the Guyana Bank for Trade & Industry Ltd.
GBTI is offering Residential Mortgage Loans with an interest rate of 11% per annum for credit facilities over GY $10M.
This Bank’s repayment period ranges from 5 – 20 years.
The requirements for obtaining a Residential Mortgage Loan are:
1. Identification Card/ Passport
2. One (1) Passport size photograph
3. Proof of Address
4. Agreement of Sale & Purchase
5. Employment/ Salary Confirmation
6. Proof of Business Income if self employed
7. Proof of 20% contribution
8. Two (2) character references
9. Two(2) photos of property being purchased
10. Bank Statements
For more information on GBTI’s Residential Mortgage Loans visit http://www.gbtibank.com)
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Financing is available at Republic Bank (Guyana)
Republic Bank’s Easy Home Loan is the residential mortgage loan that is applicable to our prospective buyers. The Bank has an interest rate of 11% per annum for credit facilities over GY $12M.
This Bank has a repayment period of 30 years.
The requirements for obtaining a Residential Mortgage Loan are:
1. One form of valid identification (Identification Card/ Passport)
2. One (1) Passport size photograph3. Copy of Building Estimate
4. Agreement of Sale & Purchase or Letter of Intent from the Company
5. A job letter from your employer stating salary, allowances and length of service with a recent pay slip. A certified Statement of Income for self-employed persons.
6. Proof of 10% Equity
7. Two (2) character references8. Bank Statements
9. A valuation report (to be obtained from one of Republic Bank’s approved valuators)
For more information on Republic Bank’s Easy Home Loan visit http://www.republicguyana.com
