Financial services company Getbucks is now offering mortgage loans to low-income earners. The mortgage loans will be paid back in 10 years with zero percent deposit. However, the mortgages will have 18-percent interest per annum.
Getbucks’ chief finance officer Paul Soko, speaking to The Source said:
So far we just started and everyone is so excited by the product because unlike a traditional mortgage, we can give a mortgage of $2,000 to $5,000 which you cannot get from any other commercial bank. Its unique in that it appeals to low income workers.
Getbucks’ mortgage is set to rival the FBC Building Society and ZB Holdings. The two have interest rates of 15 percent and 18 percent respectively.
More: The Source