Mortgage FAQs


  1. Sales Agreement (duly completed)
  2. Photocopy of Certificate of Title
  3. 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.
  4. Income Verification
  5. Two most recent pay slips
  6. If self-employed, Statement of Income Confirmation is required from a Chartered Accountant, Cash Flow Projection, Bank Statement, Business License or Registration Certificates
  7. Proof of age (Passport, Driver’s Licence, or Elector Registration Identification Card)
  8. Surveyor’s Report done by a Commissioned Land Surveyor
  9. Up-To-Date Property Tax Certificate
  10. Closing Cost of approximately 6% of the loan amount to be lodged to a JN savings account.
  11. Credit Report is required for persons residing overseas.
  12. Self-employed persons to provide additional documents as instructed by Loans Officer

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)

When you decide to purchase a property from which you may earn an income, JNBS provides the opportunity to access a loan with interest rates ranging from  10.5% .

Whether you are a saver or non-saver, JNBS will offer  75% of purchase price or valuation, whichever is less.

The loan term is for 15 years and over this period a fixed amount is disbursed on a monthly basis based on your monthly expenses

The loan term is for 5 years and over this period a fixed amount is disbursed on a monthly basis based on your monthly expenses.

Processing of the loan usually takes approximately 6 weeks.

You will need to provide the following:

  • Breakdown of monthly expenses
  • Certificate of Title
  • Valuation Report on Property done by a Valuer on JN panel
  • Income verification letter(s) from employer(s) and original and most recent pay slips for two (2) months’  salary·
  • Proof of age (passport or birth certificate)
  • TRN (for local applicants)
  • Commissioned Land Surveyor’s Identification Report
  • Up-to-date Property Tax Certificate· Closing Costs for the mortgage is to be lodged to a JN savings account – approximately 6% of loan amount

Yes, you will need the guarantor. The life insurance policy only becomes applicable after death.

Yes, you can, if the coverage is sufficient to cover the mortgage loan.

We require that you apply along with a younger person, preferably the one who is slated to inherit the property,  This person will be the guarantor and will be responsible for making the monthly payment.

The interest rate varies from 8.5% -13% calculated on the reducing balance.

You can borrow up to 95% of the value of the property.

It is a source of income. If your title is not free, we will refinance the mortgage with the other institution.

Applicants can access up to 75%  or 50% to purchase residential land. The higher percentage is offered where there is infrastructure and in the lower in the absence of infrastructure.

The Branch Manager will apply the usual assessment and make recommendations to the Credit Committee. Sums exceeding 10 million will be reviewed by the Board.

Yes, if…

  1. Information supplied is false
  2. Value of the property is inadequate
  3. The applicant’s financial circumstances change
  4. There is serious breach of the restrictive covenant *
    • All the names of those who qualify for the facility
    • The amount of the loan
    • Rate of interest, the term & monthly payment of principal and interest
    • Expiration date of the letter and the commitment fee

      On the expiration date, the applicant can apply for another 90 days. In cases of expiration over 180 days, applicants are required to re-submit their documents.

      The Pre-Approval letter will be valid for 90 days from the date of issue.

      Once the applicant’s ability to re-pay the loan has been established, the Pre-Approval Offer and Certificate will be issued within 3-4 working days. Copies are then forwarded to the Mortgage Department. However, please remember that the approval process depends on proper completion of the loan application and will also take into consideration the availability of closing costs and all other relevant information and documentation.

        • A valid sales agreement
        • A property valuation
        • Availability of the title for the property
        • Sufficient funds to cover closing costs
        • Surveyor’s Identification Report
        • Property Tax Certificate
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