Safetrust Commercial Mortgage is a facility originating from safetrust pool to assist its customers and Nigerian citizen in Diaspora to purchase, develop, expand, or renovate their housing unit.
Safetrust Commercial Mortgage Requirements
- Open a personal account with SAFETRUST. Build up your personal account to accommodate a minimum balance of 10% – 30% (i.e personal stake, equity contribution or seed fund) of desired house type.
- Maximum loan available using this scheme is unlimited.
- Lending Rate: Minimum of 19% Anunally
- Maximum repayment period is 10years.
- Applicant must have made a contribution of at least 30% of the amount to be financed.
- Availability of land with good title documents (C of O preferred).
- Photocopy of search report on the certificate of title.
- Approved building plan from relevant planning authority.
- Bills of Quantities from register quantity surveyor (for new structures).
- Valuation report from qualified Estate surveyor (for existing structure).
- Evidence of income (payslips for the past 3 months and evidence of other sources of income, declared).
- Photocopy of current tax clearance certificate.