Financing your purchase

Mortgage options for your property purchase from specialist banks in Ghana.

Mortgage requirements

Mortgage requirements in Ghana are similar to applying in the UK or USA. To be approved for a mortgage as an overseas investor, you will need to satisfy the following criteria:

• You (or your spouse) be of Ghanaian heritage
• Be creditworthy with no history of bad debts
• Have enough funds for the deposit
• Are financially able to repay the mortgage
• Must be at least 18 years old and not older than 65

The length of the mortgage cannot extend past a person’s retirement age. Mortgage applicants older than 55 should ensure they can secure a 15 year life insurance policy before applying for the mortgage.

Documentation requirements

The applicant must be able to provide evidence (bank statements, pay slips and tax returns) of their gross monthly income. Self-employed applicants will have to provide evidence of their salary from a registered accountant.

The documents required for a mortgage application are as follows:

• Proof of identification – passport, driving license etc
• Proof of employment – a current contract from your employer or a certified statement of income for self-employed people
• Proof of income – most recent 3–6 months of pay slips or self-employed foreign residents may submit tax return forms for 3 financial periods
• Proof of address – utility bills, rental agreement etc
• Proof of credit – a credit history report