HNB to market Shanthi home loans for Lankans in UK

Partners with Currency Exchange Ltd of London

HNB Managing Director and CEO Rajendra Theagarajah (right) signing the Memorandum of Understanding with Mike Cooke Chairman MCG group at HNB Towers. HNB Senior Legal Officer. Niroshini Wettasinghe looks on.

HNB and Currency Exchange Corporation Ltd-UK have entered into a joint partnership, to promote “Shanthi” Home Loans in the UK.

The Home Loan facility could be obtained either in Sri Lankan Rupees or in any other designated foreign currency.

The Currency Exchange Corporation Ltd is a fully owned subsidiary of the Mike Cooke Group (MCG) of London. The company offers money transfer services to the Sri Lankan community living in the UK, and has access to a large Sri Lankan customer base worldwide.

HNB, one of the largest private commercial bank in Sri Lanka, identified the need of providing housing finance a decade ago, pioneering the concept amongst private sector commercial banks. HNB has touched the lives of Sri Lankans both here and overseas with personalized service and commitment to providing “Homes”

Over a period of time HNB has introduced various value additions and incentives in granting Home Loans. The recently introduced “Tripartite Agreement” with tested property developers has immensely helped the Sri Lankan expatriates, to purchase condominium apartments and own a 2nd home in their native country.

“As Sri Lanka’s best weather coincides with European winter months, the country is hugely popular during this season. Sri Lankan migrants look for an alternative winter “sun destination” and an investment with strong yield potential,” a HNB spokesman said.

Through this partnership with MCG, HNB will cater to this segment creating an opportunity to obtain Home Loan financing with convenience, he added.