Loan for Home

HOME EQUITY & HOME MORTGAGE CHECKLIST*

• Job Letter stating salary, position, length of employment; plus last two months pay slips
• Print out of savings/current account transactions for at least 6 months OR updated bank book (if required)
• IF SELF-EMPLOYED: Financials prepared by a Certified Chartered Accountant & stamped
  • Income & Expenditure Statement
  • Balance Sheet
  • Cash Flow Statement and Cash Flow projections (for at least three years)
  • Credit reference
  • Print out of savings/current account transactions for at least 12 months OR updated bankbook
• Tax Registration Number (TRN) Card and Valid ID (Driver’s Licence, Voter’s ID, COK ID)
• Passport size photograph
• Completed Application Form with contact information of two relatives & two references (non-related)
• Recent utility or any other bill in member’s name with current address (Proof of Address)
• Assignment of life insurance policy (if required)
• Signed Sales Agreement (where applicable); OR other documentary evidence supporting purpose of loan
• Current Valuation (done in the last year) by one of our Approved Valuators (Refer to attached listing ofapproved valuators). All properties will be inspected by a COK staff member (applicable if property isbeing used as collateral).
• Surveyors Identification report
• Property must be insured (not applicable if it’s land only)
• Copy of property title**
• Mortgage Statement (by first mortgage holder where a mortgage exists)**Guarantor (if applicable)
• Job Letter stating salary, position, length of employment; plus last two months pay slips
• Print out of savings/current account transactions for at least 6 months OR updated bank book (if required)
• IF SELF-EMPLOYED: Financials prepared by a Certified Chartered Accountant & stamped
  • Income & Expenditure Statement
  • Balance Sheet
  • Cash Flow Statement and Cash Flow projections (for at least three years)
  • Credit reference
  • Print out of savings/current account transactions for at least 12 months OR updated bankbook
  • Tax Registration Number (TRN) Card and Valid ID (Driver’s Licence, Voter’s ID, COK ID)
  • Passport size photograph
  • Signed guarantor form witnessed by a Justice of the Peace
  • Recent utility or any other bill in guarantor’s name with current address
  • (Proof of Address)
  • Maximum Financing Home Equity
  • 70 % – Properties valued over $40M
  • 80% – Properties valued up to $40M
  • 60% – Land only ( improved i.e. water, electricity, access to roads etc)
  • Mortgage – 90% of selling price or MV whichever is less

*CONDITIONS APPLY