Type of Property |
Residential homes, New home purchase, Home Extension, and many more |
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Submiting your application |
We can talk you through all of these questions:
Down payment: How much is your contribution or equity?
Capacity: How much can you borrow?
Monthly payments: How much will your monthly commitment be?
Tenure: How long will your loan be?
Type of property: Is it residential or commercial?
Loan to Value ratio: How much can I raise and how much do I need to borrow?
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Processing your application |
The bank’s lending criteria must be met before your application is assessed. This criterion will cover items such as how much you can borrow; what types of property we will lend on and over what period your loan will be repaid.
During the processing phase, you are allowed to contribute towards your loan deposit; which allows the bank to build a relationship with you.
We will access your documents as soon as we receive them and advice you should we require any further details from you.
If you require a building contractor, the association of building contractors in your area is available to assist.
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Valuations |
We will arrange for a valuation to be carried out on the property. Valuation fees are applicable.
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Property Titles |
We will work with your legal representative to present your titles to the Government for registration and approval. This is required before your loan is approved
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Approval |
On approval, we will send you a letter of offer for your acceptance. We will require you to sign it and return it to us within the time specified in the offer letter.
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Repayment |
We make the disbursement of funds as specified in your offer letter. Once we disburse funds, your repayment plan starts (Our partnering Bank do not offer interest-only-loan)
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Cost/Amount Required |
- Valuation fees
- Application fees
- Legal fees
- Insurance – annual fire, life premium & mortgage payment protection insurance
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Keeping in touch |
We will update you with progress on a regular basis, or you can contact us via email: loans@afrotradegroup.com
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