Mortgage Related FAQs
Where do I get started?
First, you reach out to express your interest, then you complete a pre-approval application.
Under which conditions will my appliation be accepted?
Esssentially, your income will be compared to the cost of the property. Your income will then be assessed and verified to determine your ability to repay the loan.
How long does the approval process take before the loan is disbursed?
Depending on how quickly you can get your documents together, the approval-to-disbursement process takes 6-8 weeks.
Which documents are needed for the mortgage application?
You will be emailed a checklist of documents to submit with your application, some of which include your bank statements, your paystubs, identification, et.al..
What is the minimum down payment?
If you are approved to access the mortgage, you will be required to make a down payment of at least 25%, which in this case will be ₦13,750,000.
What is the maximum tenure of the mortgage?
The mortgage term is for 10 years...and there is no penalty for early repayment!