We work with both BSP and Kina bank and find them very helpful and very efficient.
If you are a first home buyer then you should definitely check out the BSP First Home Buyer Scheme. It has low rates, a long repayment term and only requires a 10% deposit on purchases up to PGK 400,000. Once you go over PGK 400,000 the deposit requirement does ump up to 20% however.
But Kina bank have really come to the table with their low rate of 6.95% over 30 years. And the best part is they only need a 10% deposit no matter what the purchase price is.
Alex Simpson says “So to all the buyers out there, shop around! Do your homework and find yourself the best possible home loan because it is a long and expensive commitment!”