Platform to simplify mortgage application process launched
Seso Global, Africa’s leading digital property marketplace, has partnered with Republic Bank (Ghana) PLC, to launch a digital mortgage platform that simplifies the mortgage application process.
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Christened Diaspora Mortgage Platform in Ghana is expected to significantly enhance the process of investing in real estate in the country by allowing Ghanaians living abroad to search, submit and manage their mortgages digitally.
A release issued in Accra by the bank today said “this partnership with Republic Bank and this newly launched diaspora mortgage platform reflects Seso Global’s important role in the rapid growth of emerging African real estate markets.
Seso Global sees the diaspora as a major catalyst for this rapid growth. It is estimated that a billion US dollars flows into real estate in Ghana every year. This partnership will accelerate the growth of diaspora capital into Ghanaian real estate even further.”
Application
The release quoted the Managing Director of Republic Bank Ghana, Benjamin Dzoboku, as saying that the Diaspora Mortgage Platform will allow clients to view thousands of prime and vetted properties in Ghana, and apply for mortgages from the bank on selected properties.
He further explained that Republic Bank offers an array of mortgage options including home purchase, home improvement, home completion and home equity finance mortgages.
“This innovation creates new opportunities for investors and homebuyers in the diaspora to purchase and finance prime real estate in Ghana in a transparent, secure and easy way,” Mr Dzoboku added.
Preverification
According to Seso Global’s CEO, Daniel Bloch, as one of the most diversified financial institutions, Republic Bank has been very instrumental in the development of the mortgage industry in Ghana.
He said the bank had supported many Ghanaians both at home and abroad to own their homes, adding that unsurprisingly, the bank continues to be the number one home loan provider in the country.
He further indicated that Seso Global and Republic Bank have pre-verified and approved all the properties on the new platform; thus, it saves the client or prospective applicant time and money that would otherwise be used for conducting due diligence when buying a property.
“Furthermore, Seso Global has partnered with mortgage originators and brokers in the United States of America (USA), the United Kingdom (UK) and Canada to help fast-track the mortgage application process and make it more efficient.
These experts will ensure that mortgages are aligned with the standards of the diaspora market and banking procedures. Ultimately, using Seso Global’s platform will greatly reduce the time it takes to perform due diligence on and approve mortgage applications for clients in the diaspora,” he said.
Mr Bloch urged all interested investors to apply to this groundbreaking platform as it aims to deploy $50 million in prime property mortgages in the next two years.