Buyers Guide

Pre-Search

It’s important to know how much you can comfortably spend and be able to back that up with verification from a bank or lender.

 

Condominium apartments require at least 10% down while cooperative apartments generally require at least 25% down. In addition to that, buyers must also work with a real estate attorney to assist with the contract and closing processes of a home purchase as there can be many moving parts during a negotiation.

 

myResidential Team work with the most experienced solicitors, and lenders in the business to ensure that our clients feel protected in their investment.

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Get a free  mortgage
advice 

Our free, no-obligation mortgage advice service is built around the needs of our clients. We’re here to answer all your questions and to make the mortgage or home-buying process as easy as it can possibly be.

 

We can advise on available mortgages that would best suit your needs and you can sit back and relax and let us take the stress away from you. 

Finding you
a suitable 
mortgage

We search the various financial institutions in the country to get you the best mortgage deal. Then we do all the hard work and paperwork to apply for you. It’s the fastest, easiest mortgage you’ll ever experience.

United Kingdom

  • Minimum Loan Amount: £100,000

  • Loan to Value: 65% (of the purchase price or valuation whichever is lower)

  • Term:15 years on a repayment basis (capital + Interest)

  • Early Repayment /Prepayment Charges: 1% of the amount repaid or prepaid in the first 12 months of the loan.

  • Lending Fee:  Generally 1% of the amount of the Loan payable upon completion

  • A security cash collateral deposit may be required of sums equal 6 months repayment, which would be held in a cash collateral account for the duration of the facility

Nigeria 

  • Minimum Loan Amount N25m 

  • Minimum of 20%- 30% equity contribution

  • Vendor’s letter of offer or Contract of sales executed by the vendor and the borrower (Offer& acceptance letter)

  • Tenor – Maximum of 5 years for Home Equity Loans. 20 years for Easy Home Mortgage.

  • Original title verification

  • Open to all, including self-employed, first-time, retired, and older landlords

  • Mortgage Advisory - 0.1% Monthly on outstanding Balance

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Neighborhood

Property 
search & survey

We will search for your ideal home, carry out the inspections on the property to tell you if there are any problems with it. It means you know exactly what you’re buying.

We help you decide which type of property survey is right for you and get it done fast. If we do find problems, we help you figure out next steps.

Leave the legal work needed to us

We’ve heard too many stories from buyers whose solicitor was inefficient or way too expensive for the service they got.

We won’t let conveyancing get in your way. We arrange all your legal work for you – that's property searches, drawing up the contracts, transferring the money to the seller – with no hassle to you.

Contract Signature
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Closing &
Move-In

After your approval, managing agents generally set a closing date and buyer and seller lawyers coordinate with the appropriate banks on available dates and times. After closing, you’ve officially purchased your new home. Your search has finally come to an end and it's time to celebrate!

Sounds Interesting?

myResidential Team will contact you

Get in Touch

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