MORTGAGE LOAN PRE-REQUIREMENTS CONSUMER BANKING

Created by Mutale Mirriam, Modified on Thu, 2 Jul at 12:25 PM by Mutale Mirriam

Dear Customer,

We appreciate your inquiry today. Please find below the requirements for Access Bank mortgage loans:

CONSUMER BANKING

• Receipt of executed loan request letter.

• Customer should have held an active bank account with access bank for at least 6

months.

• Evidence of minimum of 6 month’s Salary domiciliation with the Bank

• 12-month bank statements for non-account holders from other Banks.

• Proof of income (6 month’s pay slip stamped by employer)

• Passport size photo

• Letter of Sale from the property owner.

• Signed MOU or Agreement with the employer.

• Duly executed Letter of Undertaking by employer and employee.

• Clean Credit Reference Bureau Report on applicant

• Offer Letter of Sale (the case of outright purchase).

• Valid means of identification e.g., National Identity Card, Driver’s License.

• Copy of title deed

• Valuation report from approved Banks’ valuer.

• Debt Service Ratio Max: Premium Elite 60%, Prime and Personal Banking 50%.

EMERGING BUSINESS AND BUSINESS BANKING

• Evidence of business Income i.e Bank statements

• Three (3) years audited financial statements.

• 12 months projected cashflows

• Mortgage Loan request on headed paper.

• Board resolution to request for a Mortgage loan from the Bank on the companies

headed paper.

• Valid ID of the Directors (NRC/Passport/Driver’s license)

• Company profile

• Clean Credit Reference Bureau report

• Valuation report by the Banks’ approved valuers.

• Copy of title deed.

• DSR of 25% of annual turnover for businesses- assess 2 years turnover.

• Or Average of (difference between lowest and highest account balances for past 3

months) x tenure in years requested for; whichever is lower.

Regards,

Customer Experience Team