Additional Product Details
- Use for any purpose – home improvement, debt consolidation, purchase of consumer items, vacation, education and medical expenses.
- Minimum amount of $500K up to $40M.
- Borrow up to 80% of the appraised value on the property less prior charges
- Up to 25 years to repay
- Collateral Required – Registered Demand Mortgage over property
- One form of identification i.e. either Driver’s License, National ID or Passport
- Taxpayer Registration Number (TRN)
- Current job letter and last 3 months’ pay slips. Self-employed individuals must provide financial statements for the last 2 years.
- Recent Utility Bill
- Invoice/ documentation to support loan purpose
- Confirmation of first mortgage charge
- Loan status letter from first mortgagee (if applicable)
- Life Insurance
- Copy of duplicate Certificate of Title
- Surveyor’s ID Report not older than 6 months
- Valuation Report not older than 12 months from a Sagicor Bank approved appraiser
- Proof of paid up property taxes, water rates and/or maintenance charges for Strata Corporations
- Fire allied peril insurance coverage for the full market value with mortgage endorsement clause to Sagicor Bank
- Any other documents deemed necessary by the Bank