Seylan Bank partners with Fairway Latitude to make home ownership more accessible

Seylan Bank and Fairway Latitude have signed a memorandum to provide housing-loan facilities and selected apartment discounts to eligible buyers purchasing directly from the developer.

The arrangement offers repayment periods of up to 25 years, according to the bank.

Seylan also states that loan approvals can be processed within seven days under the partnership.

Fairway Latitude, a subsidiary of Fairway Holdings, will provide apartment discounts for qualifying Seylan customers.

The partnership combines the developer’s properties with the bank’s home-loan services, including assistance from dedicated housing-finance specialists.

Those specialists provide consultation and support from the initial enquiry through to loan disbursement.

Customers can also seek assistance through Seylan’s branch network, including help with documentation and the lending process.

Seylan Deputy General Manager for Retail Banking Eugene Seneviratne said the arrangement was intended to combine financing with guidance and faster processing.

Fairway Holdings Chairman Virath de Alwis said the collaboration would connect the developer’s apartment offering with Seylan’s housing-finance facilities.

The programme applies to customers purchasing property directly from Fairway Latitude.

Access to lending depends on the bank’s assessment of the applicant and the relevant facility.

The stated maximum repayment period describes the available term rather than a repayment period automatically granted to every borrower.

Similarly, the seven-day processing statement concerns the bank’s proposed approval service under the partnership.

The arrangement adds developer discounts to the financing proposition, giving eligible buyers two separate elements to consider when assessing a purchase.

Prospective customers can contact Seylan Bank on 011 200 8888 for information on the home-loan facility and the partnership.

The bank’s home-loan specialists and branch staff are the designated points of assistance for enquiries, documentation and progressing an application.