Joint Mortgage

With our Joint Mortgage loan, you and your spouse or business partner can easily buy property which either party could ordinarily not have been able to purchase as individuals. This loan is flexible and repayment pressure is reduced.


  • Applicants are legitimate couples or registered partners
  • Repayment capacity is on both applicants
  • Applicants are both financially committed
  • Applicants are joint and co-owners of the property
  • Loan obatainable is N70 million
  • Maximum tenor of 240 months (20 years), subject to 60 years retirement age
  • Minimum equity contribution of 20-30% depending on the location.



  • Flexible repayment structure
  • Loan repayment is distributed between the spouses easing up repayment pressure
  • Competitive interest rates.


Required Documents

  • Consumer Loan Request Form
  • Status Enquiry of Employer form
  • Current 3-6 months payslip
  • 3-6 months Bank Account Statement
  • 3 passport photographs
  • Means of Identification- Driver’s License/International Passport/National Identification
  • Utility Bill of residence/Company address
  • Letter of recent remuneration
  • Current account with FirstBank
  • Letter of Introduction from employer.


            Requirements for construction

  • Copy of the Title Documents to the property (ownership must be in the name of the customer)
  • Copy of the Approved Building Plan
  • Copy of the Bill of Quantities
  • Valuation Report on the property and if there has been any construction on site, photographs of the property showing front, back and side views
  • Equity contribution of 20%-30% of the property cost excluding cost of the land depending on the location
  • Cash flow projection on loan repayment.


               Requirements for outright purchase

  • Vendor’s Offer Letter.
  • Copy of the Title Documents to the property (ownership must be in the name of the vendor).
  • Copy of the Approved Building Plan.
  • Copy of the Bill of Quantities/Cost Estimates if the property is to be renovated.
  • Valuation Report of the property.
  • Photographs of the property showing front, back and side views.
  • Equity contribution of 20%-30% of the property cost excluding cost of the land, depending on the location.
  • Cash Flow Projection on loan repayment.


NOTE (For All Mortgages)

  • Security is Legal Mortgage on the property being constructed/purchased.
  • Mortgage Protection Assurance Policy is required.
  • Fire  and Special Peril Insurance policy required through FBN Insurance Brokers, if loan is approved.
  • Irrevocable domiciliation of salary for the duration the facility.


Who Can Apply for a Joint Mortgage

Employees in paid employment and Self-employed professionals.

To apply for the Joint Mortgage Loan,

1) Can a self-employed applicant who has banking relationship with FirstBank go into joint mortgage with his/her spouse in a paid employment?

  • Yes, provided the spouse’s employer is acceptable to FirstBank.

2) Can legitimate couples who work in the same organization partake in this facility?

  • Yes.

3) Who else can enjoy this product?

  • Registered partners in the professional field as joint owners/obligors who must have been in the business for a minimum of 5 years and must have been banking with FirstBank for 24 months or 2 years.

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