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Mortgage Checklist
Regularization Form
Regularization Form
Mortgage Checklist
CHECK-LIST FOR MORTGAGE LOAN
Mortgage Loan Application Form – N5,000
Opening Of Savings Account With LBIC
Means Of Identification (Int’ Passport, Driver’s License etc)
Utility Bill
Applicant’s Two Recent Passport Photographs
Marriage Certificate for Co-Applicants
Handwritten Application, stating: Amount, Tenor, Purpose Of Loan and Equity Contribution
Evidence Of Income Tax Payment
Evidence Of Equity Contribution
Domiciliation of Salary Account
Execution of Direct Debit Instruction
Evidence Of Stable Income
Current Payslip for the last Six Months
Bank Statement for One (1) Year
Other Statutory Evidence of Regular Income
Letter of Introduction from Employer and Work ID
Cash Flow of account statement for 3 years (audited report) - Self Employed
Document of registered business (CAC) and Board Resolution– Self Employed
Security
Certificate Of Occupancy
Registered Conveyance
Registered Deed of sub-lease
Registered Deed Of Assignment
Land Certificate
Other Registrable Title Documents
Contract of Sales (Where Applicable)
Signing of Mortgage Deed
Signing of Letter of Undertaking
Processing Fees (Servicer Fee and Admin Fee)
Service Fee 1% of Loan Amount (Payable Annually on the Anniversary of the Loan): Subject to Review
Admin Fee 1% (One Off) : Subject to Review
Deposit for Perfection of Title Document (To be determined and must be paid before disbursement).
INSURANCE POLICY
payment of;
Mortgage Protection Policy (To be determined).
Fire and Special Peril (To be determined).
Land Use Charge Receipt (Where Applicable)
Inspection/Valuation Report Fee - N50,000.00
Search Report
Property Search - N20,000.00
LSDPC Property Search – N20,000.00
Credit Bureau Search – N6,000.00 (Per Individual)
If The Loan Is For Construction of building in-addition to the above document:-
Approved Building Plan
Bill of Quantities
2 Guarantors (Means of ID and Passport Photograph)
Letter of Consent from Spouse (Means of ID and Passport Photograph)
PENCOM Statement/ NHF
Picture of Property for Purchase/ Development
General report
Note:
Co-borrower will submit same documents as the applicant, while a supporter will submit all documents as applicant except for:
Letter of Consent from Spouse
Guarantors
Marriage Certificate
Land Use Charge Receipt
All documents must be submitted before processing commences.
All fees and charges must be paid before disbursement
CHECK-LIST FOR RENOVATION LOAN
Renovation Loan Application Form
Opening Of Savings Account With LBIC
Means Of Identification
Utility Bill
Applicant’s Two Recent Passport Photographs
Evidence Of Equity Contribution -10%
Evidence Of 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
Collateral / Security
Letter of Allocation
Deeds Of Sublease
OTHER REQUIREMENTS
Provision of Two Guarantors
Interest Rate -15%
Equity Contribution-10%
Tenor (1-3years)
Estimate of Work to be Done
Loan Amount (=N=100,000.00-=N=1,000,000.00M)
SECURITY PROVIDED
Certificate Of Occupancy
Registered Conveyance
Deed of sub-lease
Deed Of Assignment