Tenanted/Residential Investment
What does Tenanted/Residential mean
When you decide to purchase a property from which you may earn an income, JNBS provides the opportunity to access a loan at interest rate of 9.8%. JNBS will offer 75% of purchase price or valuation, whichever is less.
There is no limit to the number of loans*
What are the categories?
Semi-Residential – where less than 50% of the property is deployed for commercial purposes. Applicants reside (owner-occupied) and operate their business at the same premises.
Farmstead – these rates apply to agricultural properties up to 25 acres with owner-occupied residence. Greater than 25 acres will be treated as commercial property (prevailing rate on commercial loan will therefore apply)
What are the requirements?
- Sales Agreement (duly completed)
- Photocopy of Certificate of Title
- Valuation Report which must done by a member of our panel. The report should show a picture of the property. A list of our Valuers is available on our website.
- Income Verification
- Two most recent pay slips
- If self-employed, Statement of Income Confirmation is required from a Chartered Accountant, Cash Flow Projection, Bank Statement, Business License or Registration Certificates
- Proof of age (Passport, Driver’s Licence, or Elector Registration Identification Card)
- Surveyor’s Report done by a Commissioned Land Surveyor
- Up-To-Date Property Tax Certificate
- Closing Cost of approximately 5%-6% of the loan amount to be lodged to a JN savings account.
