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Home or Land Acquisition
You may use this loan for land purchase or to construct a residential property in an acceptable locations within Nigeria.
Get a loan for your home and land purchase now!
The terms for repayment is considerate, structured and convenient
Benefits
- Imposes discipline and financial prudence
- Interest payments are tax deductible
- An opportunity to create and grow wealth
- Provides security and freedom from astronomical rental growth
- A hedge against inflation
- Provides an investment and annuity income
- Provides post retirement cash flow and passive income
- Considerate, structured and convenient terms of repayment
- Competitive interest rate
Target Audience
- Confirmed employees of reputable organisations in the private or public sector
- Individuals whose salaries must have been paid through UBA for at least 3 months
- UBA account holders
- Employees who will be discussing or selling consumer credit products
How To Apply For UBA Housing & Land Purchase Loan
- Complete a UBA Consumer Loan Application form which you may pick up from any of our branches
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If you wish to purchase residential property, submit your application including the following to the Customer Service Officer in your branch:
- — An offer letter from the vendor
- — A letter of authority from the vendor to the solicitor or estate agent of the property
- — A formal instruction from the applicant to the vendor instructing or authorising him to release the title documents to the bank
- — An undertaking from the vendor or solicitor or agent to submit valid title documents directly to the bank
- — A satisfactory search report on the property from a bank approved lawyer
- — The original of the purchase receipt
- — The survey plan
- — Executed documents which are necessary for the perfection of the legal mortgage on the property
- — A valuation report accompanied by photographs of the property
- — A bank statement for the preceding 12 months
- — A copy of the title documents, which should be in the vendor’s name
- — A copy of the approved building plan – if necessary
- — A copy of the land title documents in which the ownership is in your name
- — A copy of the approved building plan
- — A copy of the Bill of Quantities
- — The construction timetable
