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How does mortgage loan work in Ghana?

Mortgages in Ghana are available to both Ghanaians and non-Ghanaians. They are typically available to individuals who are working

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How does mortgage loans work in Ghana?

Mortgage in Ghana: How does mortgage loan work in Ghana?

Mortgages in Ghana are available to both Ghanaians and non-Ghanaians. They are typically available to individuals who are working and can make a deposit on the property they are interested in. Mortgages are also available to companies under different terms.

When you want a mortgage, we recommend starting with your bank. You may find it relatively easier to acquiring financing because of your financial relationship with the institution. In the event where you can’t get financing at your bank, these are options available to you in Ghana:

  1. Ghana Home Loans (now First National Bank)
  2. Stanbic Bank
  3. CalMortgage (Cal Bank)
  4. Fidelity Bank

Types of Mortgages in Ghana

  1. Home Purchase: This is to help individuals or companies buy property for rental or their personal use.
  2. Home Equity: This is for individuals or companies who already own property. It gives them the ability to release equity and improve their liquidity.
  3. Home Completion: This is for those who need money to complete the construction of their property.
  4. Home Improvement: This is for those who want to renovate, remodel or expand their property.

READ: List of Real Estate Houses With Their Prices And Locations in Ghana

Usual Mortgage Terms

  1. Downpayment: Most institutions require that the borrower make a 15 to 20 percent down payment of the total cost and the institution will finance the remaining 80 to 85% percent.
  2. Loan term: Usually mortgage loans are 15 years but some institutions may offer 20 years
  3. Interest rate: The borrower can borrow in either Ghana Cedi or US dollar. The interest rate varies depending on the currency. If borrowing in Cedi the interest is between 30 to 36% and in USD 10 to 15%

Mortgage Requirements

  1. Must be between 18 to 55 years
  2. Have no history of bad debts
  3. Be able to provide adequate security for the loan
  4. Be able to pay the downpayment
  5. Be financially capable of repaying the loan. It is ideal that the repayment amount is about 40% of your earnings.

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FAQ

Is abortion legal in Ghana?

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Is abortion legal in Ghana

Is abortion legal in Ghana?

By law, abortions in Ghana are legal in cases of rape, incest, fetal abnormality or disease, or “defilement of a female idiot,” or if they are performed to protect physical or mental health; they must be provided by registered and trained health personnel in an approved facility.

Abortion in Ghana is faced with serious stigmatization to the extent that people who patronize it feel ashamed to make it known. This makes it difficult to capture accurate information on abortion incidence and unintended pregnancy in official records. This in effect has had a negative impact on planning reproductive health services in the country.

The legal status of abortion in Ghana

  • According to Ghanaian law, abortions are legal in cases of rape, incest, fetal abnormality or disease, or “defilement of a female idiot,” or if they are performed to protect physical or mental health; they must be provided by registered and trained health personnel in an approved facility.
  • Despite efforts by the Ministry of Health and the Ghana Health Service to expand postabortion care and safe abortion services, several factors impede the use of these services. These include stigmatization of abortion, poor knowledge of abortion’s legal status among the public and medical professionals, misperceptions about the safety of legal abortion, and inadequate access to services.
  • Many women in Ghana seek illegal abortions, which vary widely in terms of safety. Complications from unsafe abortions contribute substantially to Ghana’s high maternal mortality, which was estimated at 310 maternal deaths per 100,000 live births in 2017.

 


CREDIT: Guttmacher Institute

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FAQ

Get tested for an STI if you observe these symptoms

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Get tested for an STI if you observe these symptoms

Get tested for an STI if you observe these symptoms

Many people with sexually transmitted infections (STIs) do not get symptoms, so it’s worth getting tested even if you feel fine. If you think you have an STI, the earlier you’re tested, the sooner treatment can be given if it’s needed.

An STI can be passed from one person to another through sexual contact, including vaginal, anal, and oral sex.

STIs can pass between men and women, and from women to women and men to men.

Many STIs can be cured with antibiotics. Some, such as HIV, have no cure but can be treated to prevent them from getting worse.

You cannot tell by looking at someone (including yourself) whether they have an infection, so it’s important to get a check-up if you have had unprotected sex or think you might be at risk.

Symptoms

Many people do not notice symptoms when they have an STI, including most women with chlamydia.

If it’s left untreated, chlamydia can affect your ability to get pregnant.

Gonorrhea can also affect fertility. Around 50% of women and 10% of men with gonorrhoea do not have symptoms.

Left untreated, STIs can affect your health. If you have any of the symptoms listed below, get tested.

In both women and men:

  • pain when passing urine (pee)
  • itching, burning, or tingling around the genitals
  • blisters, sores, spots, or lumps around the genitals or anus
  • black powder or tiny white dots in your underwear – this  could be droppings or eggs from pubic lice

In women:

  • yellow or green vaginal discharge
  • discharge that smells
  • bleeding between periods or after sex
  • pain during sex
  • lower abdominal pain

In men:

  • discharge from the penis
  • irritation of the urethra (the tube urine comes out of)

These symptoms do not necessarily mean you have an STI, but it’s worth seeing a doctor so you can find out what’s causing the symptoms and get treatment.

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FAQ

How does quitting smoking leads to better sex?

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How does quitting smoking leads to better sex?

How does quitting smoking leads to better sex?

Stopping smoking improves the body’s blood flow as it improves the functioning of the heart and other supportive veins, so improves sensitivity.

Men who stop smoking may get better erections. Women may find their orgasms improve and they become aroused more easily.

It’s also been found that non-smokers are 3 times more appealing to prospective partners than smokers.

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