PRE-QUALIFICATION FOR NATIONAL HOUSING FUND (NHF) LOAN SCHEME

1.                  Open a Savings Account with Accord Savings & Loans Ltd.

2.                  Be a contributor to NHF through your payroll for at least 6 months period.

3.                  Have a satisfactory evidence of regular inflow of income to guarantee monthly repayment of loan.

4.                  Apply on prescribed and acceptable form

5.                  Submit photocopies of valid document.

6.                  Submit copies of Approved Survey/Site plan.

7.                  Provide building plan.

8.                  Write letter of consent to mortgage property to Accord Savings & Loans Ltd.

9.                  A priced bill of quantity will be required for new constructions.

10.              Valuation report signed by a firm of Registered Estate Valuers and Surveyors for existing buildings.

11.              Offer letter is required if it is completed property that is under consideration.

12.              10% of the valued of the property will be saved as customers’ contribution to the acquisition of the property.

13.              Repayment amount should not exceed one third (1/3) of the customers net income.

14.              Interest rate at 6% per annum.

15.              Tenor or repayment period depends on the age of the customer but it is long term loan maximum of 25 years.

16.              Legal documentations shall follow.