LAGOS BUILDING INVESTMENT COMPANY PLC
CHECK-LIST FOR MORTGAGE LOAN
- Mortgage Loan Application Form
- Opening Of Savings Account With LBIC
- Means Of Identification
- Utility Bill
- Applicant’s Two Recent Passport Photographs
- Purpose Of Loan
- Evidence Of Income Tax Payment
- Evidence Of Equity Contribution
- Evidence Of Stable 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
- Security Provided
- Certificate Of Occupancy
- Registered Conveyance
- Deed of sub-lease
- Deed Of Assignment
- Contract Of Sales (Where applicable)
- Mortgage Deed
- Processing Fees
- Land Use Charge Reciept
- Inspection/Valuation Report
- Search Report
- If The Loan Is For Construction of building in-addition to the above document:-
- Approved Building Plan
- Bill of Quantities
- General report
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 Three Months
- Current Bank Statement of account for the last Three 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