Banking | Mortgage | Real Estate

Refuge House Renovation and Improvement Account

Refunish Your Apartment. Enjoy Now with Refuge House Renovation and Improvement Account.

This product helps finance renovations and upgrades on residential and business premises. It can equally be accessed to enhance the interior of individual residences. This includes the acquisition of household items.

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Turn Your Housing Estate Into an Exquisite Structure

We offer a strategic partnership helping you to fund well-timed projects that enhance your neighborhood’s aesthetics, infrastructure and market value.

This product focuses only on financing expenditures that aim to improve the external ambience of the existing estate through the following:

Asset Acquisition

Improvement of Facilities

Redevelopment of the
Estate

Upgrading of Infrastructure
within the Estate

Product Basic Features

The following are the basic features of House Renovation and Improvement Account:

Minimum opening and operating balance of =N=100,000.00
Maximum tenor of 6 months
Secured by the property to be renovated (for property owners)
Secured by two commercial bankers (for rented apartments)
Salary earners and people in self-employment can access it
Business entities can access this facility
Repayment from salary or business income
Turnaround time of 24 hours, subject to submission of all documents

Pre-Approval Requirements

The following are the Pre-Approval requirement of House Renovation and Improvement Account:

A signed application letter
A filled application form
Submission of copy of title documents
Satisfactory legal search on title documents(for property owners)
Credit checks on two credit bureaus, i.e. XDS and CRC
Six months bank statement to verify income. Accounts in other banks can suffice for customers whose relationship with RMB is less than six months

Post-Approval Requirements

The following are the Post-Approval requirement of House Renovation and Improvement Account:

Duly accepted offer letter
Perfection of title documents or transfer of property to RMB
Life insurance policy for obligor (for property owners)
Property insurance policy (for property owners)
Job loss insurance policy for two guarantors (for rented apartments)
2 Undated cheques each from guarantors for the total amount and interest (for rented apartments)
Payment of upfront fees
Letter of guarantee from 2 eligible (eligibility will be measured by the amount earned with a loan request and other credibility variables) guarantors. Including employment identity cards, one passport photograph each
Submission of a copy of the tenancy agreement (for rented apartments)

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Achieve More With Us

Achieve Your Vision

From renovations and upgrades to modernising interiors and acquiring essential household items, we fuel your dream project. The Refuge Mortgage Bank will help you achieve your vision of a comfortable home and apartment.

Access Fast & Flexible Financing

We don't delay. Your project should not witness any bottlenecks because of funds. Enjoy approval in 24 hours upon submitting documents. We are who you need for a better house renovation. Start with the House Renovation and Improvement Account Now.

Everyone is A Beneficiary

Salary earners, self-employed individuals, property owners, tenants, and business entities can access this account. Everyone deserves a space they love. And this is one of our driving forces.

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Refuge Mortgage Loans allow individuals in paid employment or self-employment and corporate organizations to access funds to buy a dream house of their own and corporate offices.

Salary Advance Scheme (SALAD)

The Refuge Salary Advance Scheme (SALAD) offers you the needed funds to meet your urgent personal financial obligations such as house rent, school fees, hospital bills, traveling expenses, burial expenses, etc. You have control over the spending.

Get in Touch With Us

Build with confidence and unlock the full potential of your next development project.

Choose Refuge Mortgage Bank. Choose advancement.

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Refuge House Renovation and Improvement Account