Why Getting a Home Loan is a Great Option in Mozambique?by Carl Brewster Online Marketing Executive
Buying a property is a crucial step. It comes with frustration, concerns and a sense of accomplishment. However, to buy the desired home demands a huge amount of money. Feeling worried? Well, not anymore. Home loan are there for you to rescue you in such situations. With a home loan, your bank pays the entire amount to the owner on your behalf and then you can pay back on monthly basis to the bank depending upon your capabilities and convenience.
Talking about Mozambique, there are several financial and non-financial options which offer you unique home loan services to make your buying process simpler and expedient. Also, you will be amazed to know that you don’t need any guarantees, post-dated cheques or securities while taking home loans to buy property in Mozambique.
Home loan has multiple benefits, let us look at them –
1. Protection Against Inevitable Inflation
With ongoing increase in demand for land in Mozambique, the prices in properties will always rise. Even the construction prices also increase by 20% every year. Rents also keep on increasing with time. Consider this as a bright side. After you pay off all your debts, your house will worth more than you ever paid. A home loan not only protects you from sudden inflation but also gives you the advantage to sell you at higher prices.
2. Leverage Tax Benefits
When you buy a house on a home loan, you can enjoy various types of cost deductions that lead to big time savings! If you are paying EMI, then you can claim deductions on interest rate, principal repayment, registration charges, joint home loans and first time home buyers.
3. Builds a good credit score
When you choose to pay the mortgage, you ought to have a great credit score. A history of paying back your EMIs on time will make you a prospective lender. It showcases that you are financially responsible and even get a chance to get CIBIL award for paying your EMI on time.
Takeaway point –
With increasing demand, you can also witness an abrupt increase in home loan service providers in Mozambique. So, while looking for a home loan you should do some homework before, to get the most secured house insurance at the minimum possible interest rates. You can choose to pay short term, long term or middle term loan options in accordance with your loan requirements.
Created on Sep 6th 2017 07:52. Viewed 362 times.
No comment, be the first to comment.