We all dream of owning our own home and at Standard Chartered we are committed to helping you turn that dream to reality. If you are aged at least 21 years and are under employment having a take away pay sufficient to cover the installments, you can approach to avail our customized mortgage loan.
Last Updated Date: May 16, 2022
In 1987, when it was first formed as a joint venture, Standard Chartered Bank Nepal Limited became operational. The Standard Chartered Group's global network provides the bank with a rare opportunity to provide genuinely international banking services in Nepal. A wide range of banking products and services are provided by Standard Chartered Bank Nepal Limited to a wide range of customers, including individuals, local mid-market firms, multinationals, main public sector companies, government companies, airlines, hotels, as well as the DO segment comprising embassies, aid organizations, NGOs and INGOs. Corporate Social Responsibility is an important part of the vision of Standard Chartered to become the world's best foreign bank and is the core pillar of the Bank's principles. Standard Chartered Bank Nepal Limited focuses on children's initiatives, particularly in the fields of health and education, and supports non-governmental organizations engaged in community charitable activities.
Financing services by requiring the following documents for the appropriate individuals:
A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest to be paid with the EMI every month. The property is taken as a security by the money lending company for the Home Loan. A home mortgage is a loan given by a bank, mortgage company or other financial institution for the purchase of a residence—either a primary residence, a secondary residence, or an investment residence—in contrast to a piece of commercial or industrial property. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the final loan payment has been made .
To obtain a mortgage, the person seeking the loan must submit an application and information about his or her financial history to a lender, which is done to demonstrate that the borrower is capable of repaying the loan. Sometimes, borrowers look to a mortgage broker for help in choosing a lender.
The process has several steps. First, borrowers might seek to be pre-qualified. Getting pre-qualified involves supplying a bank or lender with your overall financial picture, including your debt, income, and assets. The lender reviews everything and gives you an estimate of how much you can expect to borrow. Getting preapproved is the next step. You must complete an official mortgage application to be preapproved, and you must supply the lender with all the necessary documentation to perform an extensive check on your financial background and current credit rating.
After you've found a residence you want, the final step in the process is a loan commitment, which is only issued by a bank when it has approved you as the borrower, as well as the home in question—meaning that the property is appraised at or above the sales price. When the borrower and the lender have agreed on the terms of the home mortgage, the lender puts a lien on the home as collateral for the loan. This lien gives the lender the right to take possession of the house if the borrower defaults on the repayments.
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