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Slide 2 What we do Safetrust Savings and Loans Limited is a Primary Mortgage Institution (PMI) and an accredited institution by the Federal Mortgage Bank of Nigeria (FMBN) for the disbursement of the National Housing Fund (NHF) loan to contributors. Incorporated in May 1992, the company commenced operations in September 1993 at its registered office located at 18, Keffi Street Ikoyi, Lagos. The company has a diversified ownership structure and is affiliated to Sterling Bank Plc. Safetrust Savings & Loans Limited has a fully owned subsidiary, Safetrust Properties Ltd, through which it has executed a number of development projects. Slide 3 OUTLINE OF PRESENTATION : Brief comparison between Mortgage Types (Commercial & NHF Loan) - Terms and Conditions. Eligibility for Accessing the National Housing Fund. Documents required to Access NHF. More facts on the National Housing scheme and EDL. Slide 4 COMPARISON BETWEEN COMMERCIAL & NHF LOAN Commercial LoansNHF SINGLE OBLIGOR LIMIT N50 N70 millionN15 million TENOR 10 15 years 30 years subject to obligors age INTEREST RATE 22-26%6% FEE 2%3% ANNUAL FEES 1% of Loan Balance- COST OF PERFECTION 10% - 15% of the property10% of Mortgage Sum EQUITY 20% - 30%10 30% COMBINE LOAN TO INCOME RATIO 40% - 45%33.3% LOAN TO VALUE RATIO 70% - 80%70% - 90% Other Common factors: Property Insurance Mortgage Protection Credit Search Property Valuation Slide 5 : ELIGIBILITY FOR ACCESSING THE NATIONAL HOUSING FUND: All Nigerians between the Age bracket of 18 -60 years. Must be a contributor to the scheme(2.5% of basic salary). Individual with NHF account and Card with F.M.B.N. Contribution / Remittance must be for a period of 6 months continuously (and on going concern). Applicant must be a salary earner or self employed. An account owner with accredited P.M.I. (with appropriate equity contribution). Slide 6 REQUIRED DOCUMENT: Completed N.H.F. Application form. Tax clearance. Evidence of regular income ( pay slip for last 3 months). Birth Certificate. Evidence of monthly remittance to FMBN (photocopy NHF passbook). 4 passport photograph. Valuation report. Bill of quantities. Registered Title documents (C of O, R.C R. Deed of Assignment). Approved Estate Layout & Building Plan. Slide 7 Presently, the institution has its Head office in Lagos and two other branch offices in Lagos and Abuja. Our branches are located strategically in Lagos & Abuja with the following addresses : Head Office SAFETRUST CENTRE -18, Keffi Street, South West Ikoyi, Lagos Ikeja Branch 109, Allen Avenue, (Opposite Alade Market) Ikeja, Lagos State. Abuja Branch ITF HOUSE 6, Adetokunbo Ademola Crescent, Wuse 2, FCT Abuja. Tel: 234-1-2704867, 2704864, 234-7028415191 Fax: 2704866 Tel: 08191100694, 08191566755 (Ikeja) Tel: 07028414696, 07028386957 (Abuja) Email: info@sterlinghomesng.cominfo@sterlinghomesng.com Website: www.sterlinghomesng.comwww.sterlinghomesng.com Where you can find us Slide 8