HFC Bank, Regimanuel partner to deliver houses

The management of HFC Bank and Regimanuel Gray Estate have signed a Memorandum of Understanding (MoU) to provide housing and service plots for Ghanaians.

The two institutions have been working together since the 90s, and yesterday’s MoU signing was to reaffirm their commitment to the provision of accommodation to the ordinary Ghanaian.

Managing Director of HFC Bank, Anthony Jordan said the signing would provide mortgage financing for the development of houses and service plots to customers.

He thanked the management and board of Regimanuel Estates for coming on board to provide houses to reduce the housing deficits in the country.

He said available statistics indicate that Ghana has a housing deficit of about one million units, with an annual increment of demand of about 100,000 units.

He said real estate companies, however, provide about 40,000 housing units annually, which means that there is a lot to be done in the housing and finance industry.

The MD mentioned that HFC has improved its mortgage procedures to reflect on the modern trends of business, and said it can be accessed at all branches.

He said mortgage rate has also been reduced to 24 percent.

He said they will improve the capacity of their staff in the area of mortgage financing, adding they have also introduced land mortgage for individuals and companies to purchase service plots developed by Regimanuel Gray Estate.

On her part, the Vice-Chairman of Regimanuel Gray Limited, Regina Botchway, said the relationship between the two institutions has been mutually beneficial.

She said although they have been in business for a long time, it’s her belief that the two parties would improve their services in the interest of their clients.

She added that it would be prudent for both parties to train their staff in the mortgage process.

The vice-chairman advised Ghanaians who want to own buildings to purchase service plots so that they can put up their own designed buildings.