Sian James had his $15m mortgage paid off by Republic Bank (Guyana) Limited after winning a contest launched by the institution.
James, a client from the bank’s Camp Street Branch emerged as the grand prize winner and his Low Cost Mortgage facility of just under $15M was fully repaid, a release from Republic Bank said yesterday.
Dwayne Gibson, also a client of the Camp Street Branch won the second-place prize of a Samsung stainless steel refrigerator while Andelle Pierre, client from the Diamond Branch won the third-place prize of a Samsung stainless steel stove.
The release said that the recently concluded promotion targeted persons who had never owned a home and were seeking financing for purchase or construction up to a maximum value of $15M. The promotion features included 95% financing for all borrowers, and in some cases even full financing, plus a chance to win prizes.
This category of mortgages which is the low-cost maximum, attracts very low rates due to the bank’s longstanding partnership with the Government of Guyana to realize the goal of affordable housing for all Guyanese, the release said.
The Bank’s Executives presented the symbolic prizes on January 12, 2023 at its Head Office.
