For Ghanaians living and working abroad, the dream of owning property back home can often feel distant. Historically, securing mortgages from overseas has been fraught with challenges – a lack of tailored financial products, logistical nightmares navigating property purchases from afar, and deep-seated concerns about the security of their investment. But now, a new partnership aims to change the landscape, offering easier **mortgage access for Ghanaians abroad**.
Absa Bank Ghana has joined forces with Seso Global, a digital property marketplace, and T.A. Braithwaite, an insurance brokerage, to expand access to mortgages for Ghanaians living and working abroad. This collaboration seeks to simplify the process, provide secure financing, and offer comprehensive insurance cover, turning the dream of owning a home in Ghana into a tangible reality for many.
The benefits include a simplified process, secure financing, and comprehensive insurance cover.
Addressing the Challenges of Property Ownership for Ghanaians in the Diaspora
Limited Access to Reliable Mortgage Products
Previously, Ghanaians abroad faced significant hurdles when seeking mortgages from traditional Ghanaian banks. A common complaint was the lack of mortgage products tailored to their unique circumstances, often requiring extensive documentation and in-person visits, making it difficult to qualify.
Difficulty Navigating Property Purchases from Abroad
The distance, time differences, and complexities of dealing with property transactions remotely posed significant logistical challenges. Coordinating property viewings, legal paperwork, and financial transactions from overseas often proved to be a cumbersome and frustrating experience.
Concerns Around Investment Security
Perhaps the most significant obstacle was the fear of fraud, scams, and unreliable property developers. Stories of diaspora Ghanaians losing their life savings to unscrupulous actors have been widespread, highlighting the critical need for verified listings and secure financing options.
Absa, Seso Global, and T.A. Braithwaite: A Collaborative Solution
Absa Bank Ghana’s Robust Banking Infrastructure
Absa Bank Ghana plays a crucial role by providing mortgage financing and a range of financial services specifically tailored to the needs of Ghanaians living overseas. Their robust banking infrastructure, coupled with a dedicated 24-hour helpdesk and contact line, ensures accessibility and support throughout the mortgage application process.
“We have spent years listening to Ghanaians abroad. For many, owning a home in Ghana is a deeply personal goal, but access, trust and process hurdles often stand in the way. Through this partnership, we are offering mortgages and a comprehensive range of financial services to support that journey,” – Charles Addo, Retail Banking Director at Absa Bank Ghana LTD
Seso Global’s Proptech Capabilities
Seso Global’s digital property marketplace streamlines the process of sourcing, purchasing, and financing real estate in Ghana. By vetting and listing only credible properties, Seso Global addresses the concerns surrounding investment security and provides a transparent platform for diaspora Ghanaians to browse and select their ideal property.
“Seso’s digital property marketplace enables customers to easily source, purchase and finance efficiently vetted real estate in Ghana. This partnership is a game changer that will accelerate Ghana’s real estate industry’s growth.” – Kweku Essien, Co-Chief Executive Officer at Seso Global
T.A. Braithwaite’s Risk Management Expertise
T.A. Braithwaite brings specialist insurance brokerage services to the table, ensuring mortgage protection and compliance with financial regulations. Their expertise mitigates risks associated with property investment, providing peace of mind and safeguarding the financial interests of diaspora Ghanaians.
“The Ghanaian diaspora is thriving in several countries. With a stable polity, there is a desire for Ghanaians to procure properties for holiday or retirement in their home country. T.A. Braithwaite and our network partners, in our origination jurisdictions, provide a seamless end-to-end Mortgage origination, Mortgage protection insurance and Approval process on the Diaspora Connect App. Our processes meet the financial services and data regulatory compliance in the countries of origin.’’ – Des Braithwaite, Director Africa Diaspora Business at T.A. Braithwaite
Key Benefits and Features of the Partnership
Mortgage Financing Up to GH¢5,000,000
The partnership offers substantial mortgage financing options, with loan amounts available up to GH¢5,000,000. The percentage of property value that can be financed is determined based on individual income and credit assessment, providing flexible options for a wide range of potential homeowners.
Comprehensive Range of Financial Services
In addition to mortgage financing, Absa Bank Ghana offers a comprehensive suite of financial services, including flexible accounts, fixed deposit options, insurance plans, and premium credit cards. This holistic approach ensures that diaspora Ghanaians have access to all the financial tools they need to manage their investments and finances effectively.
Simplified Application Process and Remote Transaction Monitoring
The partnership streamlines the entire property investment process, integrating digital property listings, secure financing, and insurance cover. This reduces the need for frequent travel and mitigates the risk of fraud, offering a convenient and secure way for diaspora Ghanaians to invest in their future.
How to Get Started with Your Mortgage Application
Getting started with your mortgage application is a straightforward process:
- Visit the Seso Global platform to browse verified properties.
- Contact the Absa Bank Ghana 24-hour helpdesk for mortgage inquiries.
- Consult with T.A. Braithwaite for insurance options.
Take advantage of this opportunity to invest in your future and own property in Ghana.
In conclusion, the Absa-Seso Global-T.A. Braithwaite partnership represents a significant step forward in facilitating **mortgage access for Ghanaians abroad**. By addressing the historical challenges faced by the diaspora in property ownership, this collaboration offers a secure, transparent, and convenient pathway to owning a dream home in Ghana.
The partnership remains committed to streamlining access and maintaining transparency. Explore the available resources and take the first step toward owning your dream home in Ghana today.
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