Great news to Fijians as Merchant Finance is offering zero dollar deposit on home loans.
This is after Merchant Finance today launched its First Home Buyers package for those who have a combined income of $50,000 and below.
Speaking at the launch, Minister for Housing Macui Nalumisa says the introduction of the zero dollar deposits by Merchant Finance aligns itself seamlessly with the Government's unwavering commitment to promoting home ownership across the country.
Nalumisa says to streamline pathways to home ownership, the government is offering free certified housing plans and are providing a two and three-bedroom Category 4 Engineer Certified House Plan, freely available at the Ministry of Housing office.
He says to align their plans with this amazing loan product from Merchant Finance, the Housing Authority continues to provide affordable land lots specifically designed for middle to low-income earners and these initiatives reflect the Government’s commitment to reducing financial burdens and making home ownership a reality for all Fijians.
Merchant Finance Chief Executive Officer Veilawa Rereiwasaliwa says the features and benefits of this Zero-Deposit for first-home buyers are for residents only.
He says there is no monthly fees and there is up to 90 percent financing available on the home construction loan and the interest rate applies on reducing loan balance.
Rereiwasaliwa says zero-deposit home loan products represent months of dedication by Merchant Finance, and this will serve as a catalyst in increasing home ownership rates across the nation.
He says the zero-deposit feature, in particular, is transformative as it makes home ownership far more attainable, especially for Fijians who may lack the immediate means for a substantial down payment for a house and this initiative embodies the potential of public-private partnerships in driving socio-economic development forward.
