This refers to house and land or land only that is not yet mortgaged to another institution.

Member must provide the following documents:

  • Deed of Sale or Donation if land already belongs to member.
  • Letter of consent from titleholder if land belongs to third party.
  • Letter of intent to sell from vendor if loan is to purchase property.
  • Recent valuation of property (not more that 2 years old)
  • Tax clearance letters (property and income tax)
  • Clearance letter from NIC.

If loan is approved, member will be asked to:

Have the Society place a lien on the property through a Hypothecary Obligation (Mortgage).

Pay insurance on property and assign to Society.

Note: 80% of the face value of the property will be used.

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