Grayworth Home Plan
Grayworth Home Plan is aimed at providing a saving vehicle
towards an affordable home over a period of time.
Benefits Of Grayworth Home Plan
- Transport System
- Each house are intended to be built with mini-fish ponds
- Stable power supply (solar as alternative)
- Recreational parks
- Mini marts and markets
- Petrol stations/ Car charging stations
- Mini Zoo/flower garden/Fruit village
- Sport court e.g. polo, golf, basket e.t.c
Grayworth Home Plan
Grayworth Home Plan is aimed at providing a saving vehicle towards an affordable home over a period of time. It assures a comfortable retirement home and is suitable for pensioners, retirees, self-employed persons or other persons with desire of a decent home at old age in an environment equipped with modern day facilities.
During the deferred period (usually the time from the purchase date till possession of the new home), the clients contributions operates as a regular savings product with interest accrued on a monthly basis which further reduce the cost of purchase with at least 30% discount.
How It Works
- A dedicated fund accumulation wallet is opened for each client to which, regular contributions is made less cost of administration.
- During the deferred period, structured incentive (bonus) to further reduce the cost of future purchase value, shall accrue daily and credited to the wallet at the end of a calendar year, or end of deferred period or termination if earlier.
- At the beginning of the year preceding the maturity year, client shall have the opportunity to select their house design of choice and augment payments if necessary.
- Upon retirement or full attainment of the cost of purchase, the client has the option to assume their allocated apartment or to convert into any other Grayworth plan.
- Clients with the intention of stand alone houses in their choice location other than GRAYWORTH SENIOR CITY shall specify at the inception of this plan on the company’s terms and conditions.
Other Features Of Grayworth Home Plan
Minimum of 18yrs.
- When the client stops contributions/payments, Grayworth shall keep the account active only for the period of 30days after which the days (30) of grace begins to count.
- The plan shall lapse after grace period, payments made during the
grace period shall attract 5% of the contribution and payments during
the lapse days shall attract 10% of payments owed and 5%
- Client shall be notified of their due obligations at the beginning of the
grace period, Lapse Period, and Automatic termination.
- Automatic termination of contract occur if payment are not paid
within 180 days or 6 months after they are due.
At the completion of the payments the House earlier allocated becomes
owners property for life.
Termination during the contracted period will attract charges on
accrued bonuses as shown below:
1 Year – 100% Penalty
<3 Years – 50% Penalty
>3 Years – 25% Penalty
- Payments can be made monthly, quarterly, semiannually, or annually. Monthly and quarterly payments are to be made through direct debits.
- Cash payment is only acceptable when made directly at any Grayworth branch or nominated bank accounts and receipted for immediately.
- Cheques, direct debit, Electronic Fund Transfer or to a nominated Grayworth Bank Account.
- Beneficiaries shall have access to the full payments of the client upon death during the deferred stage. (less administrative charges, commissions paid and Wallet bonuses)
- Upon death during the ownership stage, the property shall be transferred to the named beneficiary.
- Proof of age of the client, where age was not admitted at inception.
- Original Certificate of Cause of Death for sighting and return (In the alternative, the embalment certificate with evidence of cause of death)
- Original Proof of Identity in the form of Passport, National ID Card, Driver’s License or any other photo ID issued by State or Federal Government.
- Any other documents or reports that Grayworth may require in considering the claim Proof to the satisfaction of Grayworth of the legal entitlement of the claimant to receive the benefit.
Frequently Asked Questions
Can I buy your houses towards retirement?
Yes, You can
How much can I get a house in your senior city?
It depends on your choice of house
Can your company help me build house in my village?
We can, perhaps you don’t want to live in our senior city estate
What makes your Senior City different from other estates?
Modern day infrastructures
Can my beneficiaries inherit the house?
Yes, once purchased, its yours and your estate forever.