SAMPATH SEWANA – Housing Loans

“Sampath Sevana”- Hassle free Housing Loans with quick & efficient service and tailor made settlement terms to suit your necessities, available all over our island wide branch network.

 

Sampath Sevana Housing Loans facilitate you to:

Purchase a house, Construct a house, Purchase a bare land & construct a house for residential purposes. And also Complete construction of a partially built house and renovate, modify or extend an existing house.

Who are eligible for a Sampath Sevana Housing Loan?

All Sri Lankan citizens who have a regular net monthly income in excess of Rs. 60,000/- individually.

How much can you borrow?

The highest loan amount is determined, considering the repayment capacity & the Forced Sale Value (FSV) of the property as determined by the Bank. To purchase a house or to purchase a land and build a house, you can borrow up to 70% of the total expenditure of the housing project. To Extend or modernize your house, you can borrow up to 75% of the bill of quantity (BOQ) value.

Security / Assurance:

Mortgage over the same property or an additional immovable property, which is acceptable to the Bank. A mortgage safety policy to guarantee settlement of loan outstanding in case of an emergency.

Repayment:

Highest period of 25 years or until the borrower get to the age of 60 years. Monthly installments of the loan should not surpass 40% & the total deduction should not surpass 60% of the total monthly earnings. Six months grace period will be permitted for repayment in case of construction. Only the interest should be paid monthly during this period.