MORTGAGE REQUIREMENTS

  1. Prospective applicant must open a Mortgage Account with Jubilee-Life Mortgage Bank
    a. Save up to a minimum 30% (equity contribution) of the loan amount required

    b.  Keep a minimum balance of equivalent of 3 months mortgage payment

  2. Submit the following:

a. Completed Jubilee-Life Mortgage Bank’s mortgage application form indicating facility amount, purpose, Tenor, Repayment pattern and its various sources, security to be pledged

b. Offer Letter signed by the prospective seller of the property for which a mortgage facility is being sought.

  1. Title document of the property pledged as collateral

  2. For a new building project, additional documents required are:

  • Bill of Quantity from a registered Quantity Surveyor

  • Certified copy of an approved building plan

  1. Proof of Income for Individuals

  • Most recent 3 months’ pay-slip, certified by employer,

  • Most recent 6 months bank statement.

  1. For Companies

  • Corporate profile

  • 3 years audited financial statements and cash-flow projection.

  • Most recent 6 months bank statement

  1. Proof of employment - Individual applicants to submit copies of employment letter and official I.D

  2. Means of identification – International passport, National ID, Driver’s license, Resident permit (for foreign applicants

  3. Customer’s recent passport photograph

  4. Executed JLMB Guarantor’s form

  5. Copies of 12 months post-dated cheques

  6. Submission of fire and mortgage protection insurance policies on the property

  7. Others