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