Brent Mortgage Bank

Interest Rate  (6% – 6%)

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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

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