PLATINUM FAST-TRACK MORTGAGE
This product makes it possible for intending home owners to have access to their property of choice as early as 48 hours from the time of effective expression of interest. Here the customer applies for a P.F.M loan at an interest rate of 10% per annum payable for a tenor up to 25 years. The customer will be required to make a lump sum payment of the required equity and all associated fees. Thereafter his application is processed and approved. He is then issued a clearance letter along with the details of his monthly loan repayment and immediately takes possession of his house.
The loan is available for PFM biddable estates only. These are:
1. Becky Gardens Estate 2, Karu, Abuja.
2. Trademore Estate, Umuahia, Abia State
3. Minfa Housing Estate (Phase 2), Owerri.
4. Teju Royal Gardens Estate, Lagos
5. Lape Estate, Karu, Abuja
6. Aper-Aku Estate, Northbank, Makurdi
7. Emmanuel Estate, Badagry, Lagos.
Some more estates will be included across the country as time goes on.
CONDITIONS FOR ACCESSING PFM
BENEFITS OF PFM
Note: 100,000 - 5M : 10%
5.1M - 10M : 20%
10.1M - 15m : 30%
PERSONAL PMBL MORTGAGE LOANS REQUIREMENT
1. Two personal guarantors
2. Printout of the last six months current acct statement with other banks
3. Payslips- last five months
4. Evidence of any other source of income
5. Personal tax clearance certificate
6. Schedule of repayment plan
7. Valid ID card and two passport photos
8. Copies of all the necessary document of landed property being used as security or any other
9. Post dated cheques to the value of the loan as an additional security.
10. Receipt of duly executed facility offer letter
11. Payment of equity as follows:
i. 20%-30% for properties in liaison with PMBL
ii. 40-50% for properties not in liaison with PMPL
CORPORATE PMBL MORTGAGE LOANS REQUIREMENT
12. Extract of board resolution requesting for loan if a company
13. Repayment plan
14. Security for the loan
15. The company commercial bank acct statement (6 months)
16. The company’s audited financial statement
17. Two third party guarantees
18. Tax clearance cert
19. Possible inspection to assess the progress of work in the site in case of tranche disbursement
20. Valuation report
21. Search report
22. Post-dated cheque
23. Receipt of duly executed offer letter
24. Execution of deed of legal mortgage.
NHF MORTGAGE LOAN REQUIREMENT
The NHF mortgage loan is a National Housing Fund loan which can only be processed by Nigerians who are contributors to National housing fund scheme of the Federal Mortgage bank.
The following are criteria that qualify one to access the NHF Loan:
1. Open a mortgage account with the primary Mortgage bank.
2. Provide a valid and Authentic means of I.D
3. Provide seven recent passport photographs.
4. Must be Age 21 and above
5. Show evidence of contribution to NHF scheme
6. Must have a source of income
7. Must be a tax payer(provide evidence of tax [payment in 3 years)
8. Must provide a birth certificate/ age declaration.
The maximum NFH loan to be obtained by individual is 15 million and one is entitled to access NHF loan once in life time.
For applicants seeking to obtain NHF loan between
1-5 million is expected to make or deposit 10%
6-10 million is expected to make or deposit 20%
11-15 million is expected to make or deposit 30%
Applicant to obtain a provisional offer from the developer, or Primary Mortgage Institution, after initial deposit to show acceptance of offer.
Applicants provide all necessary title documents for the property to be mortgaged before loan is accessed from Federal Mortgage Bank of Nigeria.