Obligor limit up to N50M
Tenor up to 10 years
Competitive Pricing
Equity contribution up to 30%
Provision for refinancing through Nigeria Mortgage Financing Company with a reduced rate and longer tenor
Receipt loan application letter
Receipt of executed loan offer letter
Active current account with the bank
Receipt of offer for sale from the vendor/seller
Receipt equity contribution
Receipt of valuation reports from the bank’s appointed valuer
Positive legal search on the property
Positive CRMS check on the customer
Execution of all documents for the perfection and transfer title
Execution of Credit Agreement and Right of Set Off
Receipt of post-dated cheques covering 120% of the loan amount
Receipt of standing order to debit salary account for upfront charges, interest and principal loan repayment in the case of salary earner
Execution of direct debit mandate
Exchange of payment cheque with original title documents to the property
Execution of Deed of transfer of ownership and execution all documents for the perfection of legal mortgage at the same when time payment is made to the vendor.
Exchange of payment cheque with original title documents to the property
Execution of Deed of transfer of ownership and execution all documents for the perfection of legal mortgage at the same when time payment is made to the vendor
Key man insurance on the obligors
Yearly comprehensive insurance on the property with Refuge noted as first payee
Perfection of legal mortgage
