At AXP, we make the mortgage journey clear, simple, and successful. Whether you’re a first-time buyer or seasoned investor, here’s a breakdown of how we help you secure a mortgage from start to finish—plus the documents you need at every stage.
Stage 1: Prequalification & Mortgage Needs Assessment
Goal: Determine how much you can afford and what financing options suit you.
Documents Needed:
- Valid Government-issued ID (NIN, International Passport, or Voter’s Card)
- Recent Payslips (Last 3–6 months)
- Bank Statement (6–12 months)
- BVN (Bank Verification Number)
Why We Need This: This information helps us assess your income strength, financial behavior, and affordability range. With this, we match you to the right lenders and loan type.
Stage 2: Property Identification & Evaluation
Goal: Find or confirm the property you want to buy, and conduct a feasibility/valuation check.
Documents Needed:
- Property Survey Plan
- Offer Letter or Sales Invoice from Seller/Developer
- Title Document (C of O, Governor’s Consent, Deed of Assignment)
Why We Need This: These help us verify property legality and evaluate its worth. Banks will not finance property with unclear ownership or unverified value.
Stage 3: Mortgage Application Submission
Goal: Apply for the actual mortgage loan.
Documents Needed:
- Employment Letter or Business Registration Documents (if self-employed)
- Tax Clearance Certificate or Personal Income Tax ID
- Completed Loan Application Form (AXP provides this)
- Letter of Introduction from Employer (if applicable)
Why We Need This: This proves you have stable income and are tax compliant—key criteria for bank approval.
Stage 4: Property Appraisal & Legal Search
Goal: Independent evaluation of the property by the lender + legal verification of the title.
Documents Needed:
- Access Letter (permission to inspect the property)
- Updated Title Documents from seller
- Power of Attorney (if a third-party is involved)
Why We Need This: Lenders want to confirm the property’s worth and legal status before releasing funds. AXP liaises with the legal team to speed up this stage.
Stage 5: Loan Approval & Offer Letter
Goal: Receive approval letter from bank/lender.
What Happens:
- AXP helps negotiate interest rate and tenure
- Lender issues Offer Letter stating terms
Documents to Sign:
- Acceptance Letter
- Direct Debit Mandate
- Offer Letter Acknowledgement
Why It Matters: This stage confirms that funds will be released. Your legal and financial responsibilities are now binding.
Stage 6: Legal Perfection & Documentation
Goal: Secure mortgage agreement and register lender’s interest in property.
Documents Handled:
- Mortgage Deed
- Deed of Assignment (signed by buyer & seller)
- Governor’s Consent Application
- Stamp Duty Payment Receipt
Why This Matters: These documents legally protect both the lender and buyer. They also ensure government recognition of ownership transfer.
Stage 7: Final Disbursement & Property Handover
Goal: Loan disbursed to seller, property handed to buyer.
What Happens:
- AXP coordinates disbursement
- You receive keys and property possession
- Mortgage repayment begins based on agreed schedule
AXP Mortgage Advantages:
- Expert guidance at every stage
- Access to multiple mortgage lenders
- Faster application processing
- Legal & property advisory included
Let’s Help You Become a Homeowner Today, Click here to book a mortgage consultation at no cost.
