NMB Mortgage

Special Conditions:

Requirements:

All contributing members of the Fund

No Deposit required (if Purchasing a stand or house)

Current Interest rate 15% p.a subject to change.

Valuation fee $320.00 (purchasing, building or property improvements)

Establishment fees 1% of the loan amount (once off)

Tenor up to 20 years

Interested members should open a Current Account as per the Bank’s requirements for the purposes of loan disbursements and repayments or salary credits

Security registration of mortgage bonds over properties with title deeds.

Mortgage loan insurance which covers death due to accident, natural causes and permanent disability (Mortgage protection policy)

Property insurance

Cession of pension benefits.

Confirmation of Accumulated Pension contributions to date

Letter from employer confirming permanent employment and undertaking to channel the salary or source deduction

Current payslip

Copy of ID

Copy of title deeds (purchasing, building or property improvements)

Agreement of sale (if Purchasing a stand or existing house)

Fully completed Mortgage Application Form

Copy of approved plan (if building and property improvements)

Quotations for work to be done (building and property improvements)

Bond fees approximately 5% of the loan amount.

Transfer fees approximately 7% of the purchase price.

For loan take over –Loan balance statements from the banks/fund.

Marriage certificate/Affidavit from spouse.