Do you have a house lot and need assistance to build your home?
We have Low Income Mortgages to suit your needs.
Interest Rates and Amounts
Special conditions apply for amounts up to $12,000,000.00
Borrower’s Contribution
A minimum of 10%
Repayment Period
To a maximum of twenty-five (25) years. Conditions apply.
Collateral/Security For Loan
- A mortgage over the property (house and /or land) being financed by the bank
- Assignment of adequate fire insurance coverage
- Assignment of the borrower(s) life insurance
Documents Required
- Valid National Identification Card or Passport or Driver’s License
- Proof of address – Recent utility bill (3 months) or postmarked letter or valid Driver’s License
- Employment letter stating current position, date of employment, salary and other cash benefits
- If self employed, statement of income or expenses or affidavit of income.
- Letter of Assurance from Central Housing and Planning Authority, copy of transport/title or letter of Intent/Agreement of Sale & Purchase if property is being purchased
- Certificate of Valuation for property being purchased (from approved valuators) along with two recent photographs.
- Estimate of construction cost.
- An approved Building plan from the relevant statutory body
- Receipts for materials/items purchased (for construction commenced)
- Statement from other financial institutions, including Hire Purchase Agreements (if applicable) of loan accounts showing balances and monthly installments payable. Satisfactory credit report.