UB introduces ‘year-round’ discounts for mortgage loans

Union Bank(UB) recently introduced an exclusive discount program for clients that obtain a Home Loan or a Loan against Property (LAP) from the bank.

An attractive range of savings from premium, trusted home improvement and building suppliers are made available to customers that avail themselves of a mortgage-backed facility from the bank. 

Accordingly, Union Bank’s Mortgage Loan clients can now enjoy discounts up to 25% at Ranjanas Ceramics, Nippon Paints, ACL cables,Orange Electric, Tokyo Cement Group and Orik Solar Energy Solutions. The offers are expected to provide exclusive price benefits to thebank’s clients in a backdrop where the prices of construction material and homeware are fast escalating. 

The discount offers will be valid for a period of one year starting from 1 May and will expire on 30 April 2020.Customers that avail themselves of a Home Loan or a Loan against property from any UB branch within this period will receive adiscount coupon booklet, which they would be able to redeem at selected merchant outlets within the validity period. 

In addition to the exclusive offers, UB Mortgage Loans offer convenient loan processing, competitive interest rates and attractive insurance premiums for mortgage protection covers along with flexible repayment periods of upto 25 years. 

Further, the bank is equipped with a team of mortgage loan specialists geared with the skills to assist, guide and provide end-to-end support, making the entire process a convenient and hassle-free experience to the applicants. 

UB Home Loan is an ideal solution to construct a house, purchase an already-built house, add an extension to an existing residence, make home improvements, secure a piece of land or even to settle a loan obtained for housing purposes. 

The loan values start from Rs. 500,000 upwards to a maximum based on the client’s requirement and the capacity to repay, while the flexible repayment schedules are extended up to 25 years depending on the client’s age and date of retirement. 

The applicants enjoy the ease of repaying the loan at a competitive interest rate in equal instalments enabling the salaried individuals to easily plan their monthly commitments by setting apart a fixed amount each month for repayment for their lifelong investment. UB Home Loans would cover up to 100% of the cost for construction and up to 80% of the value of a house for outright purchase. 

UB Loan against Property is afirst of its kind in the marketand is a flexible financing solutionthatprovides an owner of an existing commercial or residential property the opportunity to optimise his/her property to enjoy financial freedom and lifestyle perks they desire. 

Funds obtained from a LAP facility may be usedto expand and upgradethe same property or could even be used for any other personal purpose of the applicant such as developing a new business, pursuing higher education, having a dream wedding or supporting any other unexpected cash flowrequirement. 

The flexible repayment schemes could be extended up to 10 years, and applicants would also enjoy the freedom to apply jointly with spouse, to obtain a higher loan value. Speedy processing and simple documentation processes at UB would pave the way for applicants to reach their dreams at ease with the UB Loan against Property facility. 

Adding further versatility,the bank has recently introduced a ‘green channel’ for Mortgage Loans enabling even faster loan processing to meet the time-critical funding requirements of its growing clientele. 

With multiple options to choose from, UB has revolutionised the mortgage loans landscape to effectively meet the diverse housing and mortgage backed financing requirements of Sri Lankan residents as well as Sri Lankans employed abroad. 

The experienced, specialised Mortgage Loans team at UB is committed to delivering a superior service to enable applicants obtain the facility within the shortest possible time; while the clients could opt for documentation procedures with local authorities to be coordinated through the bank for added ease and simplification of the process.  

UB Home Loans and Loan against Property facilities are made available through the bank’s islandwide network of 67 braches making it convenient and accessible to all. 

For further information about the facilities,

Call – 1115800 800 

Website – www.unionb.com.