HFC Bank moves to bridge housing deficit

HFC Bank, the leaders in mortgages in Ghana, says it is positioned to launch into the next 25 years leveraging on Republic Bank’s experience in mortgage financing and financing infrastructure projects for the benefit of its customers.

“Home financing will remain one of our key strengths, and we confirm the bank’s commitment to play our part to help reduce the housing deficit in the country,” Managing Director of the Bank, Mr Robert Le Hunte has announced.

He made the announcement at the inauguration of Open House at the HFC Estate at Community 25 on the Tema-Prampram Road, opposite the Community 25 branch, by HFC Realty, a subsidiary of HFC Bank.

The Community 25 HFC Estate has 106 units of houses, out of which 44 are yet to be sold, and they are opened for viewing by prospective buyers till the end of the year.

Mr Le Hunte explained that the Mortgage Department of the bank has been restructured to ensure that all branches become channels through which mortgage loans can be accessed.

“Today marks an opportunity for HFC Bank to offer its range of affordable yet modern and well-built homes to the people of Ghana.

“I am a strong proponent of meeting the housing needs of the common man who cannot afford to buy an apartment in a plush area, and these are areas that we aim to explore further.

“I admit that the market has been flooded with many banks offering mortgage solutions, but we are poised to move ahead of the competition,” he said.

Mr Le Hunte explained that over the past 25 years, HFC Bank has played a significant role in providing housing and facilitating mortgages for a wide range of customers across different income levels, both home and abroad.

“We have also provided mortgage financing solutions through our Home Purchase, Home Improvement, Home Equity and Home completion mortgages to customers.

“We pride ourselves in meeting [the] housing needs of Ghanaians living in Ghana and abroad in a quick, easy and affordable way with continuous improvement,” he added.

Mr Le Hunte noted that the mortgage market in Trinidad and Tobago is very well developed, and Republic Bank continues to play a major role in the provision of mortgages to facilitate home ownership at home and in the Caribbean territories where the bank operates.

He added that HFC’s equity base is also strengthened with this strong backing to provide competitive mortgage loan products with longer maturities and added value for customers.

The houses for sale are two-bedroom detached and two-bedroom semi-detached houses selling for Ghc277,000 and Ghc264,000 respectively.

HFC Realty is wholly owned by HFC Bank. It was incorporated in 2003 and commenced operations in 2006.

The company is into property business, that is property development, management, marketing and sales, among others.

HFC Realty was established to enable the bank meet both the demand- and supply-side needs of home ownership in Ghana.

HFC Bank has a proud history of providing mortgages and facilitating home ownership in Ghana since the early 1990s.

To date, the company has developed over 570 houses on various estates on their own and in partnership with other companies. The HFC Realty developments are renowned for the quality of construction.

HFC Bank celebrated its 25th anniversary this year and also became a subsidiary of Republic Bank Holdings Limited, with its headquarters in Trinidad and Tobago.

According to management, the bank is currently pursuing the vision of becoming the financial institution of choice in Ghana.

It is perfectly positioned to continue to play an enabling role to meet the huge housing demand and help bring about solutions in the housing market.