Financing a home in The Gambia, from Brusubi to Brikama
To buy or build in The Gambia, you need to combine a conventional or Islamic bank loan in dalasi, substantial savings and above all a plot with a registered lease, because Gambian lenders rarely turn down a file over income but often over land.
The housing market around Greater Banjul
Demand is concentrated in Kanifing, Serrekunda, Brusubi, Bijilo and the West Coast Region towards Brikama, where the city is spreading fast. Many families build in stages, at the pace of their savings and of money sent home by the diaspora.
Who lends for property in The Gambia?
Commercial banks such as Trust Bank, Ecobank and GTBank finance purchases and construction for employees whose salary is paid into the bank. Amounts remain cautious and terms are shorter than in Europe, because funding in dalasi is expensive for lenders.
The SSHFC housing fund
Alongside its pension schemes, the Social Security and Housing Finance Corporation manages a Housing Finance Fund tasked with promoting affordable housing. It has developed housing estates and describes its own mortgage process on its website for interested applicants.
Murabaha and ijara at AGIB
For borrowers who avoid interest, AGIB Bank offers Sharia-compliant home financing: the bank acquires the property or building materials, then sells or leases them to its customer with a margin that is agreed in advance and does not change.
State lease or customary land: the key question
In urban areas, the plot generally needs a lease registered with the Department of Lands and Surveys. In rural areas, a transfer signed before the alkalo and the seyfo is often not enough for a bank to take a mortgage over it.
Checking a plot before you pay
Land disputes and double sales are common around Greater Banjul. Having the lease searched, checking the layout plan and involving a lawyer before any payment greatly reduces the risk of losing your down payment to a seller without a valid title.
Down payment, term and repayment capacity
Banks usually require a substantial personal contribution and cap the monthly instalment relative to the salary paid into the account. Civil servants and staff of large Banjul companies obtain long terms more easily than self-employed borrowers with irregular income.
The dalasi, inflation and the cost of borrowing
With the CBG policy rate at 14% in August 2026, home loans in dalasi remain expensive. Inflation that eased back to 6.5% over the same period may nonetheless gradually improve the terms that Gambian banks are able to offer.
Buying from the diaspora
Many Gambians in Europe or the United States finance a house back home. They often compare a local loan with credit taken out where they live; our report on the mortgage market in Ghana shows another West African approach.
Building in stages with a construction loan
Without a mortgage, many people fund construction in several instalments using a salary-backed personal loan, the family osusu or their savings. This method avoids a mortgage but stretches the time it takes to finish the house.
Retirees and housing
SSHFC members approaching retirement must factor in the drop in income ahead. The conditions that apply to older borrowers are set out in our page on the loan for retirees in The Gambia and its specific requirements.
Insurance and protection of the financed property
The bank normally requires home insurance covering fire and life cover on the borrower, taken out with Gambian insurers or through Takaful for Islamic financing. Their cost comes on top of the monthly instalment paid in dalasi.
How a financed home purchase works in The Gambia
- Identify the plot or house, then have a lawyer and the Department of Lands check the lease and the plan.
- Ask two or three banks, or AGIB for an Islamic option, for a quote, stating the down payment available.
- Put the file together with proof of income, your TIN, the building estimate or sale agreement and the lease.
- Have the property valued by the approved surveyor chosen by the bank.
- Sign the offer, register the mortgage or financing agreement, then take out the required insurance.
- Receive the funds, often paid directly to the seller or released in tranches as building work progresses.
Budgeting for a home loan in dalasi
| Item | Indicative amount | What makes it vary |
|---|---|---|
| Down payment | A large share of the price required | Bank policy, type of property |
| Rate or margin | Set by each bank, no cap | CBG policy rate, term, profile |
| Arrangement fee | Percentage of the amount financed | Bank or Islamic financing |
| Valuation and legal fees | Surveyor and lawyer fees | Location and complexity of the lease |
| Lease and mortgage registration | Duties and administrative fees | Property value, area |
| Insurance | Annual premium added to the cost | Property value, borrower's age |
Paperwork for a Gambian home loan
- Biometric ID card or passport
- TIN from the Gambia Revenue Authority
- Payslips and employer letter
- Bank statements for the last six months
- Copy of the registered lease or land documents
- Building estimate or sale agreement
- Plan approved by the planning authorities
Mistakes that sink a property project in The Gambia
- Paying for a plot on the strength of a paper signed by a middleman, without a lease search or a check with the Department of Lands.
- Offering customary land without a lease as collateral, hoping the bank will agree to take a mortgage over it.
- Underestimating the down payment needed and laying the foundations before receiving the lender's written approval.
- Sending a deposit from abroad to a so-called developer found on social media, without a visit or a contract checked by a Gambian lawyer.
Lenders to contact
- Ecobank Gambia: Gambian subsidiary of the pan-African banking group, providing personal retail banking services to individual customers in The Gambia.
- AGIB Bank: Gambian bank providing banking services to individuals, including online banking, and operating according to Islamic finance principles.
- Standard Chartered Gambia: Gambian subsidiary of an international bank offering personal loans to individual customers through its dedicated borrowing section.
Home loans in The Gambia: your questions answered
Do I need a registered lease to get a Gambian mortgage?
Yes, for the vast majority of Gambian applications. Banks want collateral they can enforce, which a registered lease provides. A simple customary transfer signed before the alkalo is rarely accepted as security for a mortgage.
Does the SSHFC lend directly to individuals?
The SSHFC manages a fund dedicated to housing and presents a mortgage process on its website. Eligibility conditions, particularly for its members, should be checked directly with the corporation, as they change from one programme to another.
Can I finance a house in The Gambia without interest?
Yes, through AGIB Bank, which offers Islamic products. The bank buys the property or materials and sells them on with a margin fixed at the outset, or leases them to you until ownership is transferred.
Can a Gambian living abroad borrow locally?
It is possible, but banks ask for verifiable income, often a local account and a properly registered property. Many prefer to borrow in their country of residence and transfer the funds in stages as the project advances.