APPROVAL: APPOINTMENT OF LAGOS BUILDING INVESTMENT COMPANY PLC (LBIC) AS THE PRIMARY MORTGAGE BANK (PMB) FOR LAGOS STATE PUBLIC SERVANTS.

Lagos Building Investment Company Plc (LBIC) has been appointed as the Primary Mortgage Bank (PMB) for Lagos State Public Servants as contained in Circular Ref. No: CIR/HOS/’20/Vol.1/053 of 15th May 2020.

Consequently, Lagos State Public Servants/Officers who wish to access National Housing Fund (NHF) Loan can approach LBIC.

Subscribers will have the following benefits: 

  1. Fixed interest rate of 6%
  2. Loan repayment period of up to 30years depending on age and number of service years left
  3. Refund of contribution at retirement with 2% interest
  4. The amount of Loan obtainable ranges from N5Million to N15Million

Applications should be supported with the following documentations:

  1. An account With LBIC Plc
  2. Completed Mortgage Loan Application Form
  3. Means of Identification (Such as: Int'l Passport, Driver's License etc.)
  4. Recent Utility Bill
  5. Applicant's six recent passport photographs
  6. Evidence of income tax payment
  7. Evidence of equity contribution (Below N5M – Nil contribution, from N5M to N15M – 10%)
  8. Last 6 (six) Months' payslip
  9. Last 6 (six) Months' Bank statement
  10. Letter of introduction from Employer and Staff I.D
  11. Security (Title Registration Documents) of the property to be financed
  12. Offer and Acceptance
  13. Inspection/Valuation Report Fee
  14. Birth Certificate/Age Declaration
  15. Search/Application Fee; and
  16. Where the Loan is for Building Construction, in addition to the above, the following documents will be required:
    • An Approved Building Plan and
    • Bill of Quantities

-Other requirements are:

  • 0.20% Administrative Fee (One off)
  • 0.20% Service Fee (Annually)

For Further information or enquiries, please call Olawale  (08023185475), Bisi (08033333720), Tosin (08167647633), or contact us by email to: customercare@lbicplc.com

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