We all dream of owning our own homes. At Standard Chartered, our flexible home financing solutions help you turn that dream into a reality.


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We all dream of owning our own homes. At Standard Chartered, we are committed to helping you turn that dream to reality. If you are over 21 years old, and have full-time employment, come and talk to us about a mortgage solution to help you achieve your dream of home ownership.



Higher loan amounts of up to NGN (N100M)

Longer loan tenor period of 20 years

Competitive interest rate as low as MPR +5% p.a

Minimum down payment of 20%

Use loan to purchase a holiday home

Joint mortgage with your spouse, child, parent or sibling

Access equity release of up to 75% of Open Market Value of your property

Benefits to enjoy

Competitive interest rates on mortgage loans at * (MPR+5%) p.a.

Self Employed Priority Clients are welcome – our Home Solution is available to self employed clients (business owners) as we support your dream to own a home.

Fast and hassle free processing – can’t wait for your loan? You no longer have to. If you are topping up or transferring your loan to us, you will get your funds sooner while we take care of the paperwork.

Joint Mortgage loans (product) – you could include your spouse, child, parent or sibling as a co-applicant for the loan and we shall include


Who is eligible for home loan?

Applicants with verifiable income (paid employment or self-employed)


What is the maximum loan amount on a mortgage?



What is the loan tenor?

Maximum of 20 years subject to 60 years retirement age (65 years for self employed)


What is equity contribution or loan to value?

Equity contribution refers to the part of the purchase value of the property the buyer must provide. It is currently a minimum of 20% of the value of the property being purchased i.e. for a property worth NGN 10 million, the buyer must provide a minimum of NGN 2 million and the bank finances NGN 9 million. Conversely, loan to value refers to the portion the bank finances, that is, up to a maximum of 80% of the market value of the property.


How much is the equity contribution?

20% of the cost of property


What is the minimum loan amount on a mortgage?

The minimum loan amount we offer is N6 million.


What documents do I need to submit to avail a Home Loan?

Duly completed application forms

Domiciliation of salary with the bank

3 months original payslips

6 months statement of salary account duly stamped by Bank

Copy of International Passport, Driver’s licence or National ID Card

Letter of introduction/Awareness from Employer

Copy of letter of employment and confirmation

For Balance Transfer – Letter of indebtedness from lending bank stating current outstanding balance, property documents in their custody, and state of perfection.

Copy of title deed to the property for mortgage

Copy of Approved building plan

Can a Joint Mortgage be packaged for spouses?



How do I repay the loan?

From your income which will be domiciled with SCB


Do I need to open an account with SCB to access and service the loan?



What are the stages involved in taking a mortgage loan with SCB?

Pre-assessment Stage

Processing & Approval Stage

Perfection Stage

What are the various types of home loans offered by the Bank?

Outright Purchase

Equity Release

Balance Transfer

Top Up

How do I approach SCB for a Home Loan?

Through any of our branches closest to you, or via email at


Can I take out a mortgage to buy land and then build my own house?

Standard Chartered currently offers mortgages for the purchase of already completed residential properties only.


Can I purchase a house anywhere in the country?

We currently finance the purchase of residential property in Lagos and Abuja only.


What proof of ownership(s) is/are accepted by SCB?

A government issued Certificate of Ownership

A registered Deed of Assignment, Sublease or Conveyance

What are the perfection charges, and must I pay them when I am granted the loan?

Perfection fees are the fees paid to the government for the transfer of ownership of title from the original owner to the customer. It is also used for the registration of Legal Mortgage to note the Bank’s interest. Yes, you will be required to pay these fees upfront as it is a condition precedent to drawdown of the mortgage facility.


How do you calculate interest on the home loan?

Interest is calculated as a percentage of the principal amount outstanding on a daily basis i.e. on a reducing balance basis. The interest component of your monthly repayments is therefore larger at at the start of the loan and reduces progressively over the life of the loan.


Are interest rate fixed for the entire term of the loan?

The interest rate for our mortgage is floating in line with prevailing market condition.


How much must I earn to be able to secure a mortgage?

The minimum you must earn to qualify for a mortgage is NGN 300,000.


What is EMI?

EMI refers to equated monthly instalments. It is computed using a formula which spreads interest and principal repayments into equal monthly amounts over the tenure of the loan.


What is DBR?

DBR refers to your debt burden ratio. This is the percentage of your monthly net income (after tax and other deductions) which we would permit you to use to service your mortgage facility.


I earn a housing allowance which is paid in bulk annually. Can I use this to service my loan repayments?

Yes you can. However, we will still require that you make monthly repayments of interest and principal (EMI)


I am about to retire from government service and want to purchase my government owned house. Can you provide a mortgage for this?

Yes, as long as you are less than 60 years of age and the tenor of the loan you can take will expire before you turn 60 years. Our mortgage facilities are provided to individuals who are 21 years and above and under 60 years at maturity of the loan.


I started at my job 2 years ago and I want to purchase my first house in Lagos. Can you provide financing for this?

Yes we can, if you are confirmed on the new job.


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