Frequently Asked Questions

What kind of business does LBIC do?

Accept savings and demand deposits, Mortgage banking which includes: Mortgage Financing, Mortgage Banking Services, Construction Financing and Mortgage Advisory Services.

Who are the target audience of LBIC?

Those who desire to own a house and those seeking safe investments.

What kind of facilities does LBIC provide?

Mortgage Services, Renovation loans, Secured savings platforms amongst others.

Who is qualified to access LBIC Facilities?

Individuals above 18, Institutions, Cooperative societies, Corporate Organisations and Joint venture developers.

Can LBIC loan facility be given to people not resident in Lagos?

Yes.

What is the interest rate and tenor of LBIC mortgage loan?

Negotiable.

What titled documents do i need to access LBIC loans?

Registered survey, Approved building plan, Certificate of Occupancy / Governor's Consent or any other registrable title.

How many days does it take to process my loan?

15days after submission of relevant documents.

What is the maximum amount of loan i can be given?

₦50million.

Can I access NHF loan through LBIC?

Yes

What is the requirement for account opening?

Filling of Account opening forms, Means of Identity, BVN, Utility bill and 2 passport photographs. - see link to opening of account.

Must I be a customer of LBIC to access LBIC mortgage facilities?

Yes.

Open an account

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