Get up to 105% finance if you are a first time home owner who is purchasing or building a residential property
- Release equity based on the value of your property
- Switch your existing bond to Absa at competitive terms
- Maximum repayment period of 25 years (linked to retirement age)
- Value added services available at various merchant partners
- Explore home owners insurance
Requirements
- Available to credit-worthy salaried customers who are employed permanently or on a contract basis
- Existing and new salary account holders can apply
- No collateral or security needed to apply for the loan
- To pay your loan, a monthly stop order is required to deduct the loan instalment from your salary account
- To qualify you must have graduated from a recognised tertiary institution within the past 3 years
Get a multi-residential property loan
This is a classification of housing where multiple separate self-contained units for residents are contained within one building or several buildings within one complex. The bank will assess the applicant based on salary and existing rental income only. The financing options that are available under the product are Equity Release, Refinance, Purchase and Construction.
- Maximum loan amount P5,000,000.00
- Maximum loan tenor 240 months/20 years
Requirements
- Minimum of 3 units will qualify for assessment
- Rentals to be collected in Absa current/savings account
- Multi-residential land use to be clearly indicated on the title deed
- 2 valuation reports will be considered
- Loan to value (LTV) ratio: 75% for Purchase, 70% Construction and 60% Equity Release/Refinance
- Limited to following locations:
- Southern Area: Gaborone, Tlokweng, Gaborone-North, Phakalane, Mogoditshane, Mmopane Block 1, Gabane Block 1, Oodi, Mokolodi, Ruretse, Notwane and Modipane
-North: Francistown and Tati
-Central Area: Palapye and Mahalapye
- Southern Area: Gaborone, Tlokweng, Gaborone-North, Phakalane, Mogoditshane, Mmopane Block 1, Gabane Block 1, Oodi, Mokolodi, Ruretse, Notwane and Modipane
Need more help?
Call us on:
+2673159575 (Contact centre)
0800 600 444 (BTC Toll Free)
150 (Mascom Toll Free)
Email us:
Botswana.CustomerService@absa.africa
