Residential Mortgages

In owning your own home we know financial flexibility is a necessity as your mortgage is only a part of your financial goals. With a total debt service ratio (TDSR) of up to 40% of your gross monthly income and up to 30 years or retirement age to repay your mortgage, obtaining your mortgage is simple.

The first stage you will be to acquire a mortgage certificate.

Mortgage Certificate Stage
The Mortgage Certificate is a form of pre-qualification for the loan and is presented to you after Republic Bank analyzes your current income, debt servicing and basic credit history to determine the maximum loan amount for which you may qualify. This is of course subject to the value of the property representing an acceptable loan to value ratio and the location of the property being acceptable to the Bank

Your Mortgage Certificate is valid for a period of three months from the date of issuance and allows you the opportunity to locate your land, dream home or building contractors (when constructing your home). If you do not have all the required documents (listed below) on hand when you visit our branches, our Sales Officers can still calculate the financing for which you qualify by asking you a few questions during the interview. You will get the official Mortgage Certificate when you bring in the required documents at a later date.

At the first stage, the Bank determines the level of financing for which you qualify, therefore you will be required to produce documents that show your financial standing.

The Sales Officer will also require your authorization to perform a credit check.

Check out our Mortgage Mondays Series for more information on the mortgage process.

The maximum repayment period is now 15 years.

Letter from employer confirming the applicant's salary, date of employment, status of employment and retirement age
Most recent payslips to cover one month. (E.g persons paid weekly-four payslips - most recent payslip)
Applicant's National Identification Card
Letter from respective lending institutions confirming the status of all existing loans.
Audited financial statements/Income Tax returns for the preceding three(3) years. (self employed applicants)
A valuation report on the property to be prepared by one of the Bank's approved valuers.