PRODUCT DESCRIPTION

It is designed to encourage individuals who desire to purchase or build their dream homes buildings, land etc with a long repayment plan. The product is designed to provide flexible home loans to prospective buyers.

FEATURES
Equity contribution	25%
Repayment period	Maximum of 10 years
Maximum loan exposure/Individual obligor limit	6months
Security	Financed property
Minimum balance	N5,000
Opening balance	N25,000
Interest rate on mortgage	Prevailing rate

TARGET MARKET
Confirmed employees of blue chip companies, partners of reputable law and audit firms, state and federal civil servants that meet the minimum banks risk acceptance criteria.

BENEFITS TO THE CUSTOMER
• COT Free
• Realistic & Simplified home plan
• Convenient repayment plan based on applicants income
• Competitive interest rate
• Quick turnaround time
• Interest payable on outstanding balance and not facility
• Access to credit available to furnish purchased homes
• Updates on properties in choice locations
• Access to SMB lease finance
• Interest on savings is 3% higher than regular savings

INSURANCE
Beneficiaries will be required to obtain property and home protection insurance and the annual premium on renewal of the policy will be borne by the obligor.

OTHER COSTS
Cost of perfection, legal search and valuation shall be borne by the obligor.

Form ID.		Account type	SMB Home Accounts
Personal Details
Title	Mr Mrs Miss	First Name
Last Name		Email
Phone No. (office)		Phone No. (home)
Date of Birth		Postal Code
Residential Address
Nationality		Local Govt. Area
Work Details
Date of Employment		Business / Occupation
Business Address
Employer's Name		Previous Employer
Next of Kin
First Name		Last Name
Relationship		Phone No.
Address

I hereby apply for the opening of an account with Skye Mortgage. I understand that the information givein herein and the documents supplied are the basis for opening such accounts and therefore warrant that such information is correct.