The sailing eases a bit more for Mauritius homebuying

A home purchase is surely a complicated process that requires meticulous steps. Fortunately, players in the real estate industry continuously work to streamline the entire buying process. Choosing properties, for instance, is now more convenient, thanks to online real estate listings.

Prospective home buyers now need not physically visit properties on their wish list. Savvy developers like 2Futures post online not only video tours of their developments. Also available on their websites are virtual tours of individual residences, as seen in this Ki Resort apartment yet to be built.

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Remote bank mortgage service

Moreover, real estate agents in Mauritius can service local or overseas buyers remotely via any of several web-based audio/video platforms. Some major lending institutions in the country have also begun accepting and processing mortgage applications online.

Significantly, the Mauritius Commercial Bank (MCB), the country’s largest and oldest bank, is on board this client servicing trend.  In October 2020, MCB launched its Homeloan Online Application platform. It enables mortgage applicants to obtain an agreement in principle within 48 hours.

This new facility is open to the bank’s current customers and non-costumers. They can utilize the user-friendly home loan platform either alone or jointly. The steps to follow in the web application, though simple and just requires filling up some details, is secure.

Home loan processing smooth as silk

The MCB facility helps mortgage applicants quickly ascertain their eligibility for a home loan. With the MCB platform, they can also determine the amount of amortisation within their credit capacity.

MCB’ home loan platform, though online, likewise provides personalised service. The bank’s team is attentive to the online mortgage applicants and offer solutions fit to their budget and other qualifications. Upon online obtention of the agreement in principle, an applicant will go in-branch just once to sign the loan documents.

Competitive rates and attractive repayment terms could be secured in MCB housing loans, given the bank’s stellar track record. In addition, the key repo rate of the Central Bank of Mauritius is currently at a record low of 1.85 %.

This rate has been set at this level since April 2020 to help counter the coronavirus-induced economic downturn. Notably, the low repo rate equates with lower mortgage rates and encourages bank lending to businesses and consumers as well.

New technologies have indeed streamlined buyers’ access to real estate and needed credit for their purchase. At 2Futures, we have mastered the cutting-edge tools beneficial in servicing homebuyers. Contact us to expedite a property purchase well in synch with your wants and needs.

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