Who can buy from Ghana Property Traders?
Any Public or Private Sector Salaried Worker in Ghana or Abroad, with verifiable net regular monthly income above GHS2,000.
Existing property owners with proper documentation and sufficient equity can also buy or swap on our platform without having to show proof of regular income above our threshold.
Can I buy with someone else?
Yes, you can only buy with either your spouse, or siblings or children or parents, so long as they also have regular monthly income, which doesn't have to be above GHS2,000 individually but the total household income must be above our minimum threshold of GHS2,000.
What kinds of homes are available?
A variety of homes are available for customers including, 1-3 bedroom apartments/condos, 2-4 detached and semi-detached houses, studio apartments, and 2-,3- and 4-bedroom townhouses.
Commercial properties and other residential properties may also be available.
Do I need to search for my own property?
No, We have put together a catalogue of top-
quality homes with modern amenities for your consideration.
You may also search and submit your own properly documented for consideration.
You may also avail yourself of our paid search services.
Are there any charges associated with opting into Ghana Property Traders?
No, GPT does not charge for the provision of this service if you purchase a property from our catalogue of properties.
However, you will be required to pay a fee if you wish to purchase a property outside of our catalogue.
Additionally, you will bear any fees and charges associated with the property purchase and mortgage if taken.
Do I need a mortgage to purchase a property?
If you have the funds from legitimate sources (AML Compliant) to purchase the property outright, you will not need to take out a mortgage.
However, if your funds are not sufficient and you do not have any other means of financing the shortfall, you will be advised to apply for a mortgage, either via any of our built-in options or externally if you want.
How long will it take to move into my own home or property?
This is dependent on the option that you select and the availability of funding.
Ghana Property Traders is however committed to getting you into a home within a month, or few days or hours.
Can I use Ghana Property Traders to buy a property which is not on the list of available properties?
Yes, you can use GPT to purchase an unlisted property.
You will however be required to pay a processing fee to cover the cost of due diligence required.
How much do I need to be able to buy a property on GPT?
This depends on the cost of the property you are interested in purchasing.
All properties listed on our platform provides minimum salary requirement and monthly repayment for mortgages of different tenures.
What happens to my home when I retire?
The maximum mortgage term with us is 30 years, and you're expected to have finished paying by age 60.
What is the maximum amount I can access through a mortgage?
There's no fixed mortgage amount limit. You're only limited by your current net regular monthly income and remaining active working years before pension at age 60.
Can I sell my home before retirement?
Yes, you're free to sell your property if you paid for it in full outright.
If you funded a part of the property purchase with a mortgage, you cannot sell the property without our consent or until the mortgage is paid off, or will be paid off from proceeds from the sale.
Who owns the property if I use mortgage financing?
If you bought a primary residence (home) with our seller-financed mortgage, we own the home until it's fully paid off, but all your repayments remain your equity in the home until it's fully paid off.
If you bought a commercial or some other non-owner occupier property with our in-house mortgage option, we jointly own the property with you until it's fully paid off when you assume full ownership.
What happens if I default on the mortgage payments?
If you default on your mortgage payments, the mortgage provider may attempt to restructure the repayment terms to give you an opportunity to continue making the payments.
However, if all attempts to recover the funds are not fruitful, the mortgage provider will take possession of your home and sell it to offset your indebtedness to the provider.
Are the available mortgages priced in Cedis or Dollars?
The mortgages are priced in Ghana Cedis.
However, available in USD or GBP for noncedi earners or nonresidents.
What rate will the mortgages be offered at?
The interest rates on all our inhouse direct mortgages are competitive and ranges between 7.00 12.00 percent p.a., in line with DCANS Global Interest Policy.
What documents are required from someone who wants to buy outright?
A customer who wishes to buy a property outright must fill an application form, a statement confirming the existence of any other funds being applied towards the property purchase, and a valid Ghana Card.
Note: Ghana Card not required at application, but at closing via lawyers.