“During this period alone, the number of applications received was almost double as compared to the previous months of the same period, and about 95% of them were successful, and fully disbursed”
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By Ntokozo Nkambue
The Swaziland Building Society 0% Home Loan Campaign has clearly been a success. According to the Department of Distribution Channels from the bank, home loan applications received during the campaign doubled compared to previous months of the same period.
“Over the period of the campaign, we were amazed by the traction and excitement we received from all our customers. During this period alone, the number of applications received was almost double as compared to the previous months of the same period, and about 95% of them were successful and fully disbursed” the bank states in a press statement. Further, the bank disclosed that with this product customers will be able to borrow against their bonds a few years down the line upon evaluation, which can help improve the value of their property.
The bank’s Managing Director, Mbali Sibanyoni observed during their prize award ceremony held at their headquarters that they remain open to assisting all EmaSwati to realize their dream of owning the best homes for themselves and their families. Sibanyoni also encouraged customers who previously had mortgage accounts for vacant land to contact them so they can explore options for developing their land. Additionally, the MD revealed that customers can also re-apply for a re-advance to improve their existing properties. “Unlike first-time buyers, the re-advance facility tends to be more viable to many customers” she noted. Moreover, Sibanyoni cautioned customers to ensure their property as it helps them retain the value of their investment.
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