Head of Mortgage Banking and Customer Experience at Republic Bank, Dan Adjetey Mohenu, says the maiden edition of the Republic Bank-JoyNews Habitat Fair at the Ho Sports Stadium will offer prospective homeowners financing solutions covering various stages of the homeownership journey, from land acquisition to home completion.

According to him, the three-day event will provide visitors with the opportunity to engage directly with mortgage experts, discuss their individual homeownership needs and explore financing options suited to their circumstances.

The Habitat Fair, scheduled for October 16 to 18, will run from 8:00 a.m. to 8:00 p.m. each day and will cater to people at different stages of their homeownership journey.

Speaking on Joy FM's Super Morning Show on October 2, Mr Mohenu said the focus will be on meeting customers at whatever stage they are in their journey to owning a home.

“We will be showcasing everything. Each individual has their specific needs, and so we don't go to the clinics with specific products. We go with everything we have.”

He explained that the bank's solutions cover the homeownership process from acquiring land through to completing a house.

“It's from land acquisition to the last bit of the homeownership journey. And so that is what we will be showcasing in Ho as well.”

According to him, some visitors may be looking to purchase land, while others may already own land and need financing to begin construction or complete unfinished properties.

He encouraged prospective homeowners to bring their specific challenges to the fair and engage the bank's team for guidance.

“If you are just starting by buying land, we will be there to assist you. Bring forth all your issues about homeownership and let's address them.”

Mr Mohenu said Republic Bank is working to make the mortgage process easier and more convenient for customers.

He explained that once customers have been taken through the available products and understand their options, they only need to indicate what they want to achieve.

“All you need to do is to show us that you are interested in acquiring. The rest is on us.”

He said the approach is intended to make the homeownership process more flexible and seamless while bringing mortgage services closer to customers.

“So we make it a lot more flexible, bringing it to your doorstep, and ensuring that the process is quite seamless.”

The mortgage solutions will not be limited to people seeking properties in Ho or the Volta Region.

Mr Mohenu said people living in other parts of Ghana can also use the bank's services to finance properties elsewhere in the country.

“We do that very, very, very often. Even the diaspora.”

He explained that someone living in Accra who wants to acquire property in Ho, or someone in Ho seeking to purchase a property in Accra or another part of the country, can approach Republic Bank for financing.

Ghanaians living and working abroad can also explore the bank's mortgage solutions to acquire properties in Ghana.

According to Mr Mohenu, the bank's solutions are available to a wide range of customers.

“Our solutions are open to employees, employers, self-employed professionals, business owners, shareholders, directors, and also regulars in the diaspora.”

He explained that applicants are assessed based on their individual financial circumstances and ability to repay the facility.

“All you need is show me proof that we are comfortable. Come and let's qualify.”

Once a customer qualifies, he said, the bank can then work with them to determine the appropriate financing option for the property they intend to acquire or develop.

On mortgage interest rates, Mr Mohenu said the applicable rate depends on several factors, including the loan amount, duration of the facility and the customer's risk profile.

“In lending or in giving out loans, you are looking at the risk profile of the individual you are giving your loans to.”

He explained that the rates therefore vary depending on the circumstances of each customer and the structure of the facility.

Mr Mohenu, however, disclosed that some customers who attended previous Habitat Fair clinics secured mortgage rates as low as 8.4 percent.

“Over the last three clinics, people have gotten as low as 8.4%.”

He stressed that the 8.4 percent rate is not necessarily applicable to every customer, as mortgage rates are determined by individual circumstances.

Mr Mohenu said the decision to take the Habitat Fair to Ho follows strong interest recorded at previous editions of the initiative.

He recalled that the first clinic was held at Achimota, followed by an edition at Marina Mall, where attendance doubled compared with the Achimota event.

“We started from Achimota, and we went to Marina Mall. We did twice the number in Marina Mall compared to Achimota.”

The subsequent edition at Junction Mall also recorded a strong response, despite concerns over road construction and accessibility.

“Junction Mall gave us twice Marina Mall.”

Mr Mohenu said the strong response has demonstrated the level of interest among Ghanaians in homeownership, land acquisition, construction and mortgage financing.

He said the experience has encouraged Republic Bank to take the initiative to other parts of the country.

Mr Mohenu said an earlier engagement in the Volta Region showed the bank that many residents were interested in owning homes but needed access to information and financing.

He explained that after establishing a presence in the region, the bank engaged residents and discovered significant interest in land acquisition, construction and completing unfinished houses.

“We could tell that people were ready to own homes. People were ready to buy lands. People were ready to finish their houses.”

He said this informed the decision to take the Habitat Fair to the region.

“All we are doing is that we're bringing the homeownership to the doorstep of the home and also continue the education.”

Mr Mohenu said the Habitat Fair is designed to give prospective homeowners a platform to have direct conversations with mortgage professionals and find solutions tailored to their circumstances.

He said the initiative is ultimately about making homeownership information and financing more accessible.

Republic Bank is urging residents of Ho and the wider Volta Region to take advantage of the Republic Bank-JoyNews Habitat Fair to explore mortgage financing options and receive expert guidance on their homeownership journey.