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Own the home of your dreams

With an FNB Home Loan, you get the finance you need when purchasing a residential property, as well as other facilities and options to suit your requirements.

Home loan solutions

First-time home buyer

Apply for 105% mortgage finance if you have never owned a property before and get up to 100% financing of the full purchase price and a further 5% of the open market value or purchase price (whichever is less).

Home loan

A first bond application provides finance for a fully-built property located within urban and peri-urban areas with access to specific infrastructure.

Building loan

Perfect for when you are building a new home or making improvements on your existing property.

Buy vacant land

A vacant land application is submitted when you require finance for a portion of land where no building exists. You must meet the qualifying criteria for vacant land finance.

Things to consider

Life assurance

Ensure your loved ones are looked after when you are no longer around.

Read more

Retrenchment cover

An insurance policy that covers the risk of retrenchment is a requisite for the bank advancing the loan.

Read more

Useful terms

Learn about the charges associated with buying a house and who is liable for them.

Read more

 

Qualifying criteria

  • Available to individuals, joint applicants, and property-owning juristic persons

  • The term of the loan must expire before you reach the age of 60

 

Documents required

  • Sales agreement (Offer to Purchase & Acceptance)

  • Copy of title deed

  • Seller's ID (If married, spouse's consent and marriage documents)

  • Current payslip

  • 6 months' bank statements for non-FNB banked

  • Applicant marriage certificate and marriage instrument

  • Proof of residence -confirmation of employment

  • Valid ID - Omang or passport

  • Completed application form

 

Contact us

Telephone the contact centre on 0800 302 302 or +267 395 9881.

Email your relationship manager at premiumservices@fnbbotswana.co.bw or visit your nearest branch.

 

Useful terms

Purchase price deposit

This is a payment made to secure the property. The amount will be stated in the Offer to Purchase contract and varies according to the property value.

Attorney bond costs

A fee that is paid by a customer to the attorney to register a mortgage bond in favour of the bank. This amount varies as per the legal conveyancing fees schedule.

Attorney transferring costs

A fee that is paid to the attorney nominated by the seller to transfer ownership of the property. This amount varies as per the legal conveyancing fees schedule.

Transfer duty and VAT

This government tax, which you need to pay is based on the purchase price or the open market value of the property, whichever is higher.

In property sales, either transfer duty or VAT will be applicable depending on whether the seller's line of business is property trading. Transfer duty is not applicable in respect of tribal land however the transaction may attract VAT, depending on the type of seller.

Depending on whether or not a purchaser is a citizen or non-citizen, transfer duty is charged as follows; whether one is a first-time property buyer. If so, one is exempt from payment of transfer duty for the whole value of the property.

If not a first-time buyer, the person will be exempt from payment of transfer duty on the first P1 million of the open market value of the property or the purchase price, whichever is higher. For anything over and above P1 million, 5% transfer duty is charged. Non-citizens pay 30% of the purchase price.

Initiation fee

A fee charged by FNB to process your home loan application. See annual pricing guide for details. FNB will debit this fee to your home loan on registration.

Valuation fee

A fee paid by you to the valuers nominated by the bank to do an evaluation on the house for a home loan application where the fee is regulated by REAC. This amount varies as per the REAC fees schedule.

 

Retrenchment cover

Retrenchment insurance cover to the satisfaction of the lender (an insurance policy that covers the risk of retrenchment) is a requisite for the bank advancing the loan to the customer.

This insurance is provided if there is no suitable retrenchment insurance.

 

Life assurance

In the absence of knowing what the future may hold, you can prevent that your loved ones face additional financial troubles when dealing with your death, as this in itself will be distressing.

You may be required to supply life cover prior to the registration.

You have the choice of either accepting FNB Life's competitive life assurance quote called Embedded Life Cover Plan which will cover the outstanding balance of the loan, or you could insure the value of the home loan with an acceptable underwriter, subject to the policy having sufficient cover to pay off the outstanding balance, or registered bond amount, at the time of cession.

Please note that FNB can reject any proposed credit insurance if it is not suitable.

 

Home loan

Properties with primary and secondary infrastructure such as power, water, sewage and access to roads.

  • Urban and peri-urban areas

  • Standalone properties

  • Sectional titles e.g BHC flats

  • Leasehold properties -minimum of 30 years

  • Small holdings- 4ha and vacant land ( e.g Notwane, Lion Park )

  • Freehold plots

 

First-time home buyer

Why should I apply for 105% mortgage financing?

  • You can own a home sooner rather than later as funds are provided towards your legal and administration fees

  • You can buy a home of up to P1,400,000

  • You can speed up the process by house hunting with a pre-approved certificate which also gives you buying power when you negotiate with a seller

  • You can enjoy competitive interest rates

  • You can protect your beautiful home with homeowners insurance which covers fire, lighting, storm, wind, hail and burglary

  • For peace of mind, we offer embedded mortgage protection cover for death and permanent disability

  • Automatic acceptance to the FNB Home Ownership Programme, an educational programme designed to equip first-time home buyers with knowledge around the process of home acquisition and offer financial management tools to ensure sustainable wealth creation

Why is it called 105% mortgage financing?

  • We provide up to 100% financing of the full purchase price, and a further 5% of the open market value or purchase price (whichever is less) towards covering for your legal and administration fees.

 

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First National Bank of Botswana Limited - Registration number BW00000790476.