The Bank will only finance properties/buildings apart from land.
Do I have to pay Mortgage Fees Up Front?
Commitment and Management fees are paid one-off upfront while Advisory fee is paid on outstanding principal at every anniversary of the loan.
How do I get more Information?
Call Access Bank contact centre or contact the Mortgage Product Manager.
How do I know how much I can Access?
Mortgage payments are based on the loan amount, the loan interest rate, tenor of the loan, age of borrower.
What can Disqualify my Application?
Negative credit check, encumbered property, bad search report, High DSR.
What Happens if Interest Rates Increase?
Our interest rate is floating and subject to review from time to time in line with the prevailing money market condition.
What Insurance do I need?
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.
What is Included in a Monthly Repayment?
The monthly mortgage payment mainly pays off principal and interest.
What is the Interest Rate on this Mortgage?
The interest is tied to MPR on a risk based pricing ranging between 18 and 23% p.a
What is the LTV Ratio?
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%.
What is the Maximum and Minimum Loan Amount?
Maximum of N200million and a minimum of N10million.
What types of Mortgage are Available?
Loan for outright purchase of property, loan against existing property of applicant, loan for Home renovation/refurbishment, Loan for property under construction.
Which Locations do we Finance?
Lagos, Abuja and Port Harcourt.
Who is Eligible to Access our Mortgage Product?
Salaried employees, Self Employed individuals, Business Owners, Affluent Professionals, High Networth Individuals etc