Mortgage-based Housing Loan

(Bond)

The mortgage-based housing loan is a loan accessed from a registered financial institution for purposes of buying, building and/or renovating your house with your house being held as security for the loan. Generally, such loans have the following features:

• Bond registration costs
• Estate Agent’s commission priced–in (ordinarily paid by the seller of the house)
• Related insurances
• Average repayment term of 20 years and more
• Loan subject to affordability, value of the house and lenders’ terms
• Valuation and inspection of the house
• Employees may access this type of housing loan through lenders who participate in GEHS.