Real estate: SBM and Lamudi team up

The State Bank of Mauritius Ltd (SBM) and Lamudi Maurice, real estate portal of Africa Internet Group (AIG), announced a partnership in which SBM will become the exclusive mortgage supplier through the website www.lamudi. mu. Lamudi, a real estate portal has launched its loan simulator. Customers can now apply directly for a loan to purchase a real estate property with its exclusive loan simulator supplied by SBM. The announcement was made on Wednesday, April 13 at Labourdonnais Waterfront Hotel in Port Louis. By going through the Lamudi site for mortgage applications, customers will benefit from the promotional offer of the SBM Homeloan including a cash back rebate of up to Rs 200,000 on the loan amount. 50% discount on the legal and administrative costs with a repayment period up to 25 years. The SBM Homeloan also offers a moratorium period of up to 2 years on principal repayment and also discounts and special offers from partners who are building materials dealers, decoration products and equipment for the house. Moreover, in the case of refinancing an existing home loan to a third institution, registration fees are supported by the SBM. Mr Eddirao Balloo, Head of Sales, Branches and Private Banking at the SBM, explained the reason of this partnership. “Lamudi and SBM partnership will be a one-stop-shop for clients. While Lamudi helps you find your dream home, SBM will provide the financing solution. Our customers are important and the bank will continue to offer a range of products to its customers.” On her part, Amanda Legland, Managing Director of Lamudi Maurice, highlighted the presence of Lamudi on the market. “Our presence in the market has made a remarkable difference in the lives of Mauritians, bringing the latest combination of technology, innovation and creativity. I invite you all to join us in this exciting journey.” Lamudi also invites new real estate agencies and developers to take advantage of reduced prices (terms and conditions) upon registration in April and May 2016. You can visit the website www.lamudi.mu for more information.