Home or Land Acquisition

You may use this loan to (a) Purchase land or residential property and (b) Construct residential property in acceptable locations within Nigeria.

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

• Complete a UBA Consumer Loan Application form which you may download online or pick up from any of our branches
• If you wish to purchase residential property, submit your application including the following to the Customer Service Officer in your branch:
  1. An offer letter from the vendor
  2. A letter of authority from the vendor to the solicitor or estate agent of the property
  3. A formal instruction from the applicant to the vendor instructing or authorising him to release the title documents to the bank
  4. An undertaking from the vendor or solicitor or agent to submit valid title documents directly to the bank
  5. A satisfactory Search report on the property from a bank approved lawyer
  6. The original of the purchase receipt
  7. The survey plan
  8. Executed documents which are necessary for the perfection of the legal mortgage on the property
  9. A valuation report accompanied by photographs of the property
  10. A bank statement for the preceding 12 months
  11. A copy of the title documents, which should be in the vendor’s name.
  12. A copy of the approved building plan – if necessary
  13. A copy of the land title documents in which the ownership is in your name
  14. A copy of the approved building plan
  15. A copy of the  Bill of Quantities
  16. The construction timetable