Financial services company Getbucks is now offering mortgage loans to low-income earners. The mortgage loans will be paid back in 10 years with zero percent deposit. However, the mortgages will have 18-percent interest per annum.
Getbucks’ chief finance officer Paul Soko, speaking to The Source said:
So far we just started and everyone is so excited by the product because unlike a traditional mortgage, we can give a mortgage of $2,000 to $5,000 which you cannot get from any other commercial bank. Its unique in that it appeals to low income workers.
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Getbucks’ mortgage is set to rival the FBC Building Society and ZB Holdings. The two have interest rates of 15 percent and 18 percent respectively.
More: The Source