Windhoek, July 15-Bank Windhoek today became the first Namibian bank to introduce a mortgage loan that encompasses extended repayment terms for first-time home buyers.
Maiden buyers who intend to purchase a residential property with a value of between N$500 000 and N$2 million can now apply for a mortgage loan with an extended term of up to 360 months.
“In light of the impact of COVID-19 on the back of an already struggling economy, we have seen a number of interesting market dynamics at play. Even though these dynamics do pose its challenges, it also presents some opportunities. The extended mortgage term offered by Bank Windhoek, coupled with the low interest rates, makes it more affordable and presents individuals with a unique opportunity to own a home,” said Bank Windhoek’s chief financial officer and incumbent chief executive for retail banking services, James Chapman.
Chapman further added that as a customer-centric bank, Bank Windhoek is continuously assessing the impact of COVID-19 on its customers and the wider community and is continuously looking for innovative ways to assist beyond the support provided and relief measures implemented as part of the Bank’s initial response to COVID-19.
With the launch of this product, Bank Windhoek is also making financing more accessible to all.
“At Bank Windhoek, we strive to provide sustainable value to all our stakeholders and partner with our customers for growth as we accompany them on their journey to a financially secure future. Owning your own home is a key milestone for many on that journey, and Bank Windhoek wants to make it possible. We will continue to find ways to help our customers and drive progress in the communities in which we operate during this unprecedented time we find ourselves in,” Chapman concluded.
To apply online visit the Bank Windhoek website at www.bankwindhoek.com.na or call the Customer Contact Centre at 061 299 1200 for more information. Alternatively, customers can make an appointment to visit any Bank Windhoek Branch.