The Ghana Real Estates Development Association (GREDA) wants its proposition to the administration for the survey of the home loan law to improve access to contract financing to be looked at imminently..

As indicated by GREDA, that is the way that banks can give extensive mortgage facility to enable consumers buy houses.

Larger part of the banks are maintaining a strategic distance from contract financing in light of the numerous dangers related with lodging financing. Republic Bank, Cal and GHL are not many of the banks mortgage facilities to consumers.

Be that as it may, talking in a meeting with Class Business, President of GREDA, Ebo Bonful, said his office will keep on supporting the legislature to diminish the lodging shortage, which is assessed to have come to about 1.7 million lodging units.

“We’re hoping that there will be a deepening of the mortgage market because we can’t get people to buy the houses if there are no mortgages. We’re hoping that the proposal we sent for the review of the mortgage law will be looked into very quickly so that the banks will be comfortable to roll out mortgages to buyers who buy our houses.”

“This is our biggest problem, so we are hoping that our proposal to government which is a comprehensive one will be looked at and will be transformed into a law so that we can get mortgages for our buyers”, he referenced.”

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Accelerate survey of home loan law – GREDA

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