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Mortgage Checklist

LAGOS BUILDING INVESTMENT COMPANY PLC

   

CHECK-LIST FOR MORTGAGE LOAN

 

S/NO

ITEM

DATE

SUBMITTED

REMARK

YES

 

NO

1

Mortgage Loan Application Form

 

 

 

2

Opening Of Savings Account With LBIC

 

 

 

3

Means Of  Identification

 

 

 

4

Utility Bill

 

 

 

5

Applicant’s Two Recent Passport Photographs

 

 

 

6

Purpose Of Loan

 

 

 

7

Evidence Of Income Tax Payment

 

 

 

8

Evidence Of Equity Contribution

 

 

 

9

Evidence Of Stable Income

·         Current Payslip for the last Six Months

·         Current Bank Statement of account for the last Six Months

·         Other Statutory Evidence of Regular Income

·         Confirmation from Employer

 

 

 

10

SECURITY PROVIDED

·         Certificate Of Occupancy

·         Registered Conveyance

·         Deed of sub-lease

·         Deed Of Assignment

 

 

 

11

Contract Of Sales (Where applicable)

 

 

 

12

Mortgage Deed

 

 

 

13

Processing Fees

 

 

 

14

Land Use Charge Reciept

 

 

 

15

Inspection/Valuation Report

 

 

 

16

Search Report

 

 

 

17

If The Loan Is For Construction of building in-addition to the above document:-

·         Approved Building Plan

·         Bill of Quantities

 

 

 

18

General report

 

 

 

 

 

CHECK-LIST FOR RENOVATION LOAN

S/NO

ITEM

DATE SUBMITTED

REMARK

 

 

YES                                NO

1

Renovation Loan Application Form

 

 

 

2

Opening Of Savings Account With LBIC

 

 

 

3

Means Of Identification

 

 

 

4

Utility Bill

 

 

 

5

Applicant’s Two Recent Passport Photographs

 

 

 

6

Evidence Of Equity Contribution -10%

 

 

 

7

Evidence Of Income

·         Current Payslip for the last Three Months

·         Current Bank Statement of account for the last Three Months

·         Other Statutory Evidence of Regular Income Confirmation from Employer

 

 

 

8

COLLACTERAL/SECURITY

·         Letter of Allocation

·         Deeds Of Sublease

 

 

 

 

·         OTHER REQUIREMENTS

 

 

 

1

Provision of Two Guarantors

 

 

 

2

Interest Rate -15%

 

 

 

3

Equity Contribution-10%

 

 

 

4

Tenor (1-3years)

 

 

 

5

Estimate of Work to be Done

 

 

 

6

Loan Amount (=N=100,000.00-=N=1,000,000.00M)