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ACCESS BANK PLC

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24/01/2020

Access Mortgage
Advantage

Need a financial solution for acquisition of real estate - residential or commercial properties?
Access Mortgage Advantage can lead you home today.

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Access Mortgage Advantage

Are you a corporate or an individual with a verifiable source of income in Nigeria or abroad? Are you employed or self-employed? Access Mortgage Advantage is designed to suit your need.

 

Offerings

  • My First Home Mortgage Savings Plan: 20% equity to be saved on month-by-month basis over 24 months and mortgage will be availed upon completion of savings. Maximum amount is N50 million.
  • Easy Home Mortgage: regular mortgage plan with customer’s equity of a minimum 20% for employed and self-employed persons.  Facility limit is N500 Million for individuals and N5 Billion for corporates.
  • Rent to Own: available only on properties from Bank’s approved developers
  • Off-Plan Mortgage: This mortgage is to finance in milestones, the construction or completion of a property in the bank’s approved project.
  • Home Equity Loans: “Access Mortgage Re-finance”. Proceeds are either be for re-mortgage or other business and personal reasons of the borrower.

Commercial Mortgage Offerings

  • Direct Mortgage:  For acquisition of commercial real estate where the Loan-to Value shall not be more than 70%. This is for investment in commercial real estate where rental proceeds from commercial properties shall be applied to meet mortgage obligations. This facility is open to Corporates, self-employed persons and individuals.
  •  Commercial Equity Release: To release value from an existing commercial property to be invested in the borrower’s business. Loan amount not more than 50% of Forced Sale Value.

More benefits for you

  • Higher loan amounts of up to N500 million for individuals and N5 billion for corporates
  • Longer loan tenor period of 30 years on some facilities
  • Interest rates of 15% - 17% per annum
  • Re-defined active work-life age of 65 years
  • Properties free from encumbrance
  • Joint Mortgage loans (product) - you could include your spouse, child, parent or sibling as a co-applicant for the loan.

Premium Offers

Eko-Pearl
Apartments at Eko Pearl, Eko Atlantic, Victoria Island
Eden-Heights
Apartments at Eden Heights, Victoria Island
Sphere-Miserere
Apartments at The Sphere & Miserere both in Victoria Island & Ikoyi
Maiyegun-Beach-Estate
Apartments and serviced plots at Maiyegun Beach Estate, Jakande, Lekki
 
Rail-Road-Estate
Apartments, Town-houses and semi-detached houses at Rail Road Estate, Yaba.
PrimeWaterView
PrimeWaterView Estate, Off Freedom Way, Lekki.
Golf-Estate
Terraces and Serviced Plots at Golf Estate, Port-Harcourt
Diamond-Villa-Estate
Apartments, semi-detached and detached houses at Diamond Villa Estate, Port-Harcourt
 
Lakowe Lakes & Golf Estate
Lakowe Lakes & Golf Estate, Lakowe, Lekki.
LAPAL House, Lagos
Serviced office spaces for young entrepreneurs at LAPAL House, Lagos.
Azzurri Towers, Eko Atlantic City
Exquisitely fitted office spaces at Azzurri Towers, Eko Atlantic City.

FREQUENTLY ASKED QUESTIONS (FAQs):

Yes. The Bank has carried out pre-qualification and due diligence on certain projects in Lagos for its mortgage.  The essence is to reduce the level of documentation (as usually so) for mortgage. So, for these projects, once capacity to repay mortgage is confirmed and a good credit bureau search report, an offer for mortgage will be availed to such customer. These projects are for High Networth persons and mid-income earners. They are:
 
  • Apartments at Eko Pearl, Eko Atlantic, Victoria Island
  • Apartments at Eden Heights, Victoria Island
  • Apartments at The Sphere & Miserere both in Victoria Island & Ikoyi
  • Apartments and serviced plots at Maiyegun Beach Estate, Jakande, Lekki
  • Apartments, Town-houses and semi-detached houses at Rail Road Estate, Yaba.
  • PrimeWaterView Estate, Off Freedom Way, Lekki.
  • Terraces and Serviced Plots at Golf Estate, Port-Harcourt
  • Apartments, semi-detached and detached houses at Diamond Villa Estate, Port-Harcourt
  • Lakowe Lakes & Golf Estate, Lakowe, Lekki.
  • Serviced office spaces for young entrepreneurs at LAPAL House, Lagos.
  • Exquisitely fitted office spaces at Azzurri Towers, Eko Atlantic City.
Yes. In as much as your total monthly repayments do not exceed 33.3% of your net income.
Pre-payment can be done at any-time and at no cost.
Yes. The Debt Service Ratio should not be more than 33.3% of your net income. In arriving at the debt-service-ratio, your defined annual allowance (as stated in your employment letter) will be applied to determine your DSR. It is divided into 12 months and the figure arrived at is added to your net monthly income to ascertain DSR.
Yes. In as much as due diligence in conducted on the title to the rental properties as well as on the rental inflows. Note however, that for use of rent to meet mortgage is only limited to 50% of rent proceeds.
The product is a savings plan that is aimed at imbibing financial discipline.  The plan entails equal monthly savings of your anticipated equity (20% of property value) over 24 months or 36 moths. At the end of the savings period, the bank avails a Mortgage at 15% p.a. interest (subject however to market trends). The savings earn 5% pa interest which will be applied to paying the facility fees. This product is a 30-year tenor.
Salary domiciliation is not compulsory, it is optional. But for self-employed persons, business proceeds domiciliation is required.
No. But the Borrower can pay down on his obligation also at any-time and at no cost.
Any eligible Nigerian in paid employment or self-employed and has attained the age of 21. It can also be a joint mortgage- either for Husband & Wives and Nuclear Family members.
Repayment may be monthly or quarterly. However, for customers or borrowers who earn substantial incomes semi-annually and annually, principal repayment can be tied to such anniversaries for easy of repayment and improve eligibility for mortgage.
20% for employed persons and 30% for self-employed persons.
30 years for persons who apply under My First Home Mortgage and 20 years for other products.
All inquiries on mortgage to: mortgagedesk@accessbankplc.com or Andrew on 08028497889; Omolade on 08023164782; Osarumese on 07060728941.
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