Description
Brent Mortgage
Brent Mortgage Direct is designed to provide mortgage facilities to customers (regular income earners/ established business owners with stable income) for the acquisition and construction of properties residential. Minimum account balance of N10,000.00 Flexible means of repayments: monthly or quarterly. Payment can be made by cash, cheques, direct debit, standing order or e-transfer.
- Mortgage Tenor – 15 yrs
- Minimum opening balance – 20,000
- Savings period – 6 months
- Equity contribution – 30%
A mortgage is a loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full.
Requirements for accessing an NHF Loan
- Open a savings account with a registered Primary Mortgage Institution (PMI)
- Contribution to the fund for at least six months prior
- Have satisfactory evidence of regular flow of income to guarantee the loan
- Submit photocopies of valid title documents (e.g. C of O)
- Approved survey/site plans
- Approved building plans
- Priced bill of Quantities where applicable
- Valuation report prepared by a firm of registered surveyors and valuers where applicable
- Letter of consent to mortgage to your chosen PMI
- Apply on a prescribed mortgage loan application form
- Offer Letter/Acceptance and Allocation letter (In case of government projects)
- In case of registered self employed applicant, a copy of Articles and Memorandum of Association and a copy of Certificate of Incorporation as evidence of employment status must be submitted
