Personal Lending |
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Mortgage Checklist
1. Letter of request (Stating amount, purpose, security/collateral being
offered)
2. Personal Financial Statement/s (Forms will be provided)
3. Income and Expenditure Statement/s (Forms will be provided)
4. Confirmation of employment (stating salary and years of service)
5. Detailed estimate of the house to be constructed/repaired/renovated
(Estimate to be signed and dated by Estimator).
6. Copy of approved plans/Drawings of house to be constructed.
7. Appraisal of property being offered as security (If buying, rather than
building, the house).
8. Copy of Certificate of Title to the lands being built on.
9. Details of Contract with Builder (Labour only or fixed price contract - Labour
+ Material). To be provided after approval of loan.
10. Name and address of existing Bankers/financial Institutions (if residing
overseas), plus Bank Statements showing balances on accounts.
11. Copies of last two (2) years income tax returns (if residing overseas).
12. Certified Copy of Alien Land Holding License. (If non-citizen of
SKN)Customer’s Cash input - (The Percentage depends on the total
construction cost/price of property being bought).
13. The Customer must also have available enough cash to cover loan
charges, legal fees as well as the cost of insuring the property during and
after construction.
14. The Customer should have life insurance and this should normally be
enough to cover the loan amount.
15. The maximum repayment term that may be offered is 30 years, subject to
applicant’s age.
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