{"id":445754,"date":"2017-12-11T10:00:34","date_gmt":"2017-12-11T10:00:34","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/11\/hfc-bank-upbeat-of-competition-in-mortgage-offers\/"},"modified":"2017-12-11T10:00:34","modified_gmt":"2017-12-11T10:00:34","slug":"hfc-bank-upbeat-of-competition-in-mortgage-offers","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/11\/hfc-bank-upbeat-of-competition-in-mortgage-offers\/","title":{"rendered":"HFC Bank upbeat of competition in mortgage offers"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday, 11 December 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>citifmonline.com<\/p>\n<p>2017-12-11<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/44803850.295.jpg\" alt=\"Anthony Jordan HFC\" title=\"Anthony Jordan HFC\" width=\"295\" height=\"221\" \/><span class=\"image_caption\"><span>Managing Director of HFC Bank, Anthony Jordan<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/1512986434_369_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\"> HFC Bank has ruled out any fears of losing to competition in the mortgage industry with the coming on board of GHL Bank.<\/p>\n<p>Managing Director of HFC Bank, Anthony Jordan explains that the vast housing needs of customers make it necessary for more players to come on board to address the issue.<\/p>\n<p>Considered as one of the leading mortgage centered banks, HFC bank is among the eight banks that offer mortgages in Ghana.<\/p>\n<p>GHL Bank, formerly Ghana Home Loans, is also targeting competitive mortgage offers even with its universal banking license.<\/p>\n<p>But Mr. Jordan tells Citi Business News his company will least be affected by the move.<\/p>\n<p>\u201c\u2026The market for mortgages is very large and there a few banks that are doing mortgages seriously in Ghana. So there is enough business for all of us up to this point in time,\u201d he asserted.<\/p>\n<p>Ghana is currently facing a housing deficit estimated at 1.7 million minimum. The persistent nature of this situation has also been blamed on the high cost of mortgages.<\/p>\n<p>Mr. Jordan however admitted to some possible distortion to funding mortgages. But he maintains that the availability of market should enable the bank surmount such.<\/p>\n<p>\u201cGhana Home Loans\u2019 ability to do mortgages doesn\u2019t take away from the volume of business that I can do. I will rather have other restrictions like funding maybe because even if Ghana Home Loans is doing a lot of mortgages, there is still a big unsatisfied demand for mortgages.\u201d<\/p>\n<p>The Board Chairman of GHL Bank, Albert Essien had also outlined ambitious plans by the bank to be among the top five banks by 2020.<\/p>\n<p>This he says will involve meeting the various market needs which are currently missing in the banking sector.<\/p>\n<p>The average interest rates on mortgages as at October 2017 stood at 30.3 percent.<\/p>\n<p><!-- uploaded by: 43 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 11 December 2017 Source: citifmonline.com 2017-12-11 Managing Director of HFC Bank, Anthony Jordan HFC Bank has ruled out any fears of losing to competition in the mortgage industry with the coming on board of GHL Bank. Managing Director of HFC Bank, Anthony Jordan explains that the vast housing needs of customers [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":445755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-445754","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HFC Bank upbeat of competition in mortgage offers - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/12\/11\/hfc-bank-upbeat-of-competition-in-mortgage-offers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"HFC Bank upbeat of competition in mortgage offers - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Monday, 11 December 2017 Source: citifmonline.com 2017-12-11 Managing Director of HFC Bank, Anthony Jordan HFC Bank has ruled out any fears of losing to competition in the mortgage industry with the coming on board of GHL Bank. 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