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Housing Finance | newsletter

Vuna Hela - A Solution for you!

What is Vuna Hela?

Vuna Hela is a loan product that targets individuals who already own their house / property or are currently servicing a mortgage.

With Vuna Hela, one is able to apply for additional financing using the existing security that is then charged to Housing Finance.

Why Vuna Hela?

Vuna Hela is useful for those customers who would like additional funds for;

  • Furnishings- homes & offices
  • Asset finance
  • Clear existing obligations- more expensive loans e.g. unsecured loans
  • Working capital
  • Development of another property
  • Completion of existing security
  • Travel/holiday/social reasons
  • Renovation/extension/home improvement
  • Investments
  • Start-up of new business
  • Education

Vuna Hela provides easy & affordable access to an extra source of financing as the interest charged is equivalent to that charged on a mortgage which is usually much cheaper than a commercial loan. With Vuna Hela, you are also able to access your money within a short period of time therefore making it … A Fast & Affordable solution.

TYPES OF VUNA HELA LOANS

VUNA HELA - Vanilla / Top Up
Vanilla / Top Up is where a customer applies for a loan / additional financing using the house / property as security but not necessarily using the money towards the home / property. What’s more, you do not have to be a HF customer to utilise this facility. Financing is based within the current Loan to Value ratios for Vuna Hela. You will be required to finance the closing costs such as Stamp duty and legal fees and once the security documents are perfected, the funds will be released.

Vuna Hela – Debt Consolidation

Have you accumulated several loans and would like to have them consolidated into a long-term affordable loan option? The Vuna Hela Debt Consolidation solution does just that. To qualify the loan repayments of the existing loans should be up to date and you will be required to provide us with loan statements for a period of 1 year. Funds will be released after perfection of security documents

Vuna Hela – 3rd Party Charge

The Vuna Hela 3rd party charge solution provides customers with the option of using property that may not be personally owned to acquire financing. The property / home owner must however give authority to have the property charged to Housing Finance for the funds to be released. A personal guarantee and indemnity will be required from the property owner and funds will be released after perfection of security documents

Vuna Hela – Plots

Vuna Hela on plots gives customers the opportunity to use their plots as the security for the purposes of acquiring additional financing. The size of the land must be over 3 acres to enable investment in infrastructure. We will lend you up to 50% the value of the plot.


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