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The loan is available to individuals who are building, buying an existing property or doing renovations to existing properties. 

Life assurance on the bond will be taken to cover the life of the bond holder. Alternatively, an individual life policy can be ceded to the building society in lieu of the life assurance cover on the life of the bond holder. In the event of the death of the bond holder, the proceeds of the policy will be used to pay off the bond. 

Mortgage account holders are urged to take a House Owners Comprehensive Insurance policy to cover the replacement value of the property in the event of fire and damage among other unforeseen destructive events.