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Mortgage Loans

TCCU mortgage Loans cover your needs.

At the SVG Teachers Co-operative Credit Union, offers several Mortgage Loans. You can acquire finance for Land Purchase, Land & Property Purchase, Construction and Renovation.

Residential Mortgage Loan Requirements:

  • Applicant(s) must have at least 10% of the sum of the amount requested in their Share Deposit and or Deposit Accounts.
  • An estimate from the contractor or builder.
  • An approved/certified house plan.
  • A valuation report done by one of our accepted valuators.
  • Proof of income – This includes a job letter and/or your most recent salary slip.
  • Proof of address (utility bill).
  • An approved survey plan.
  • An insurance policy on the house.
  • The title deed for the property to be mortgaged.
  • A life insurance policy.

Land Purchase Requirements:

  • Applicant(s) must have at least $10,000 or 10% of the amount request for in the loan in their Share Deposit and Deposits Accounts (whichever is greater).
  • A valuation report done by one of our accepted valuators.
  • An approved survey plan.
  • The title deed for the property to be mortgaged.
  • Sales agreement.
  • Proof of income – This includes a job letter and your most recent salary slip.
  • Proof of address – This includes a utility bill.
  • A life insurance policy.

Construction & Renovation Requirements:

  • An approved estimate from the contractor.
  • Title Deed.
  • Approved Plan.
  • House Insurance.

Land & Property Purchase Requirements:

  • Valuation.
  • Deed of Conveyance.
  • Estimated Development Plan.
  • Land Plan.
  • An estimate of renovation cost.
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