TEN FREQUENTLY ASKED QUESTIONS ABOUT PRODUCTS OF BRENT MORTGAGE BANK LIMITED
- What do you need to access the mortgage plans offered by Brent Mortgage Bank Limited?
ANSWER: You need a regular source of income and employer’s guarantee. It is important that you have a regular income flow.
- Do I need to have an account with your bank to be able to access the mortgage facilities?
ANSWER: Yes.
- What will be my equity contribution to access Rent-to-Own Facility?
ANSWER: You will make initial deposit of 10% of the cost of the building.
- What type of titled document do I need to access Brent Commercial Mortgage or Brent Mortgage Direct?
ANSWER: You need properties with registered title documents.
- Do I need a pension account with a pension fund administrator to open a Brent Retirement Home Plan account?
ANSWER: Yes
- Can the bank help in sourcing for a residential property to buy?
ANSWER: Yes
- Can I operate my account from any other branch of Brent Mortgage Bank other than where it is domiciled?
ANSWER: Yes
- Do you offer SMS alert on transactions?
ANSWER: Yes
- What is the maximum loan amount and repayment period for NHF?
ANSWER: A contributor is eligible to enjoy a maximum of N15million repayable over a maximum of 30 years at an affordable interest rate of 6% of the maximum loan amount, 20% equity is required from the contributor.
- What are the other uses of NHF loan?
ANSWER: NHF loans are also available to make outright purchases, renovate or expand an existing house. The loan is strictly for residential buildings.
