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Equity Release

CABS Equity Release Mortgage Loans are available for individuals. You can borrow up to 50% of the value of your own paid up property at CABS.

How It Works


Maximum of 10 years

Interest rate

15 % p.a.

Valuation fees

2% to be paid over the life of the loan.

Debt Burden ratio

Repayment to income should not exceed 25% of gross income


First mortgage bonds to be registered over the immovable property in the name of the borrower

Acceptable Security

Urban Residential property only

Maximum Qualification

Gross Salary * 14.91

Loan to Value Ratio

Maximum of 50%

Legal fees

Bond registration shall be capitalised into  the loan

Insurance for the mortgaged property (HOC)

Society shall arrange a comprehensive insurance cover through OMICO for the mortgaged property to cover against fire and other usual risks.

Life Cover

To be arranged through OMLAC

Loan purpose

Any purpose as long as it is legal 


    • The Equity release loan allows borrowers to unlock value out of their paid up unencumbered property.
    • Unrestricted use of funds as long as it is legal.
    • Legal fees are included in loan amount.
    • No deposit required.

Qualification Criteria

    • Property should be in the name of the borrower or in the name of a Trust where borrower is the settlor and beneficiaries are not minors or in the name of Non-Trading property owning company controlled by the borrower.
    • Property must be unencumbered.
    • Income source must be reasonably sustainable over the duration of the loan-salaried borrowers must be permanently employed or the contract of employment must cover loan duration.
    • Salary or proceeds from identified source of repayment must have been banked with CABS for at least three (3) months.
    • Maximum entry age of borrower is 64 years next birthday with maximum cover of $400,000.00 in line with conditions for life cover.

Acceptable Source Of Repayment

    • Salary and or pension from a reputable source supported by a pay slip and letter of confirmation.

Points To Note

    • The tenure for Individuals has been extended from the current 5 years to 10 years.
    • The interest rate for individuals has been reduced from current 18% to 15%.
    • CABS will pay bond registration fees for the borrower which will be capitalised into loan and recover these through the monthly instalment for the tenure of the loan.  The LTV ratio however has to remain within 50% inclusive of the legal fees.
    • Existing customers are eligible to apply for review of terms & conditions for consideration by the business.