Mortgage Loans

Frequently Asked Questions : Mortgage Loans

The Bank will only finance properties/buildings apart from land.
Commitment and Management fees are paid one-off upfront while Advisory fee is paid on outstanding principal at every anniversary of the loan.
Call Access Bank contact centre or contact the Mortgage Product Manager. 
Mortgage payments are based on the loan amount, the loan interest rate, tenor of the loan, age of borrower.
Negative credit check, encumbered property, bad search report, High DSR.
Our interest rate is floating and subject to review from time to time in line with the prevailing money market condition.
Credit life insurance to cover against the risk of death, job loss and permanent disability. Asset Protection insurance to protect against destruction of the property.
The monthly mortgage payment mainly pays off principal and interest. 
The interest is tied to MPR on a risk based pricing ranging between 18 and 23% p.a
LTV stands for loan to value and the ratio is the amount of the mortgage expressed as a percentage of the property's value. The lower the LTV, the greater the equity in the property. Our maximum LTV is 70%. 
Maximum of N200million and a minimum of N10million.
Loan for outright purchase of property, loan against existing property of applicant, loan for Home renovation/refurbishment, Loan for property under construction.
Lagos, Abuja and Port Harcourt.
Salaried employees, Self Employed individuals, Business Owners, Affluent Professionals, High Networth Individuals etc

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