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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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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Refuge Mortgage Bank
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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