Looking for an opportunity to diversify your investment portfolio? You can apply for a buy to let mortgage to invest in properties in Ghana. DCANS Investments can provide you access to capital repayment and interest only Buy to let mortgages with a great choice of competitive rates.
Subject to confirmation that you meet the applicable eligibility criteria and depending upon your country of residence, individual circumstances and your requirements, Buy to Let mortgages may be provided by either DCANS Investments (Ghana) or DCANS Capital (UK).
DCANS Buy to Let mortgages are available to:
• DCANS Premier customers
• Customers with a minimum annual salary of:
- Non Ghana resident: $85,000
- Ghana resident: $35,000
Buy to let mortgage eligibility criteria
• The property must be in Ghana and DCANS require the first legal charge over the property
• The maximum loan to valuation (LTV) is 85% subject to loan amount and a maximum Buy to Let lending limit applies. Other fees and charges may be payable including legal fees and charges levied by your existing lender.
• A Standard Valuation Report is required for all applications
• Properties must be ready-to-move-in
• The maximum mortgage term is 25 years
• All mortgages are subject to underwriting and lending criteria
• Terms and conditions apply
Important: Buy to Let lending is subject to our maximum Buy to Let lending limits. These take into account any Buy to let borrowing from other lenders.
Types of mortgage
DCANS offer two ways of paying back your mortgage; capital repayment and interest only. You can choose from these two methods, according to your own personal circumstances.
With a capital repayment mortgage your monthly payment covers the interest charged on your mortgage and it also reduces the outstanding balance each month in line with the repayment term selected. With this type of mortgage you can ensure your mortgage is fully paid at the end of the mortgage term.
What you get with a capital repayment mortgage:
Interest and capital repaid - your monthly payment covers the interest and also reduces the total outstanding balance
Security - providing all payments are made, your mortgage will be repaid in full at the end of the agreed mortgage term
With an interest only mortgage your monthly payment only covers the interest charged on your mortgage. You are responsible for making your own arrangements to repay your mortgage at the end of the mortgage term. You must demonstrate that you have an acceptable repayment vehicle in place, for example you may choose to use an endowment policy, another investment or savings plan.
What you get with an interest only mortgage:
Interest only - your monthly payment only covers the interest and the original capital amount borrowed remains outstanding throughout the term of the mortgage
Lower monthly payments - because you are not repaying the capital, your monthly payments will be lower than with a capital repayment mortgage
Types of rate
DCANS offers both tracker interest rates and fixed interest rates. Before you proceed with a mortgage you should make sure you can afford the monthly payments.
Any property used as security, which may include your home and/or business assets may be repossessed if you do not keep up repayments on your loan, or any other debts secured on it.
However, you may avail yourself of our repayment assistance programme, if you meet the criteria as and when necessary.