Product Benefits
• Ease of processing
• Service of a dedicated Relationship Manager
• No partial repayment penalty

Pricing

• Interest: 13% per annum.
• Fees: This will consist of the following;
* Commitment Fee: 1% (payable upfront)
* Legal Advisory Fee: 0.5% (payable upfront)
* Management Fee: 1% per quarter on the outstanding loan amount.
• All other professional fees and out-of-pocket expenses incurred by the Bank in the review of the facility (e.g. search fee, credit check fee etc) and documentation/perfection of security shall be borne directly by the Obligor.

Eligibility

Applicants MUST be 50 years or below to qualify and they must be either:

a. An Employed Professional. This is an individual who has been gainfully engaged in employment with an organization (with a formal and functioning Governing/Supervisory Board) for a minimum of One (1) year. He/She must be a confirmed employee of that organization.

b. A Self-Employed Professional. This is an individual who has been engaged in a productive vocation for a minimum of Five (5) years. Such persons must be a business owner, founder, director, chairperson or president of such business/enterprise. Professionals that own firms will also qualify if such ventures have been in operation for a minimum of Five (5) years.

Documents/Documentations required

1. Completed NRN Loan Application
2. Evidence of legal residency (e.g. copy of unexpired International Passport)
3. Verifiable evidence of employment/contract/business
4. Applicant’s bank statements for the last 6 months (for employed professionals), 12months Business bank statements (for Self Employed Professionals)
5. Vendor’s Offer Letter/ Invoice or Letter of Authority from Property Owner to Solicitor/Estate Agent (where property is not being sold directly by owner)
6. Irrevocable acceptance of the Vendor’s Offer
7. *Photocopies of Title documents to the property intended for purchase, including all approvals (Town Planning, Survey Plan and Building Plan)
8. *Certificate of property valuation from a bank-approved valuer, accompanied by photographs of the property
9. Three (3) years’ Tax Clearance/Statement/Returns Summary documents of the applicant(s)
10. Employee Status Form (for employed applicants)
11. Satisfactory Credit Check on the applicant - to be submitted by the Bank *applies to properties in the secondary market.

Forms for Download

NRN mortgage application form.

How to Apply

Complete the mortgage application form and attach all the required documents stated above. Clients to ensure that all the copies of the documents are notarized by a notary public.