HomePlan™ Mortgage
Product Overview
HomePlan™ our off-plan mortgage, is a flexible equity accumulation mortgage product by Global Trust Mortgage Bank designed for individuals who wish to gradually build their equity over a 6–12-month period. This product enables buyers plan for a home purchase while benefiting from yields on their deposits, exclusive early access to new listings, and a slightly reduced equity requirement compared to conventional mortgage options. Once the minimum equity threshold is met, the balance is automatically financed through a digital HomeNow™-style mortgage.
Key Features
- Structured equity accumulation plan: 6–24 months
- Option to borrow up to 30% of equity requirement through GTMB’s SALAD™ facility
- Earn interest on accumulated deposit in escrow account
- Slightly reduced equity requirement (minimum 35%)
- Automatic mortgage activation upon equity threshold completion
- Regular updates on new listings and pre-approved property launches
- 100% digital onboarding, monitoring and disbursement
- Fixed-rate mortgage with tenors up to 10 years
- Compulsory LifeShield™ mortgage insurance enrollment
- Full compliance with NMRC underwriting standards
Eligibility Criteria
Applicants must meet the following conditions:
- Verifiable income of ₦200,000/month minimum
- Age: Maximum of 60 years at loan maturity
- BVN and NIN verification completed
- Clean credit history and minimum score of 650
- Committed to monthly contributions for 6–24 months
- Debt-to-income ratio ≤ 40%
- Employment (min. 6 months) or 24-month entrepreneurial history
LifeShield™ Mortgage Insurance
As with all GTMB mortgages, HomePlan™ requires enrollment in LifeShield™ Insurance. This ensures continuity of repayment in the event of:
– Job loss (up to 6 months coverage)
– Death or permanent disability
– Hospitalization or incapacitation
Premiums are bundled into the monthly repayment structure and commence once the mortgage phase is triggered.
How the Product Works
HomePlan™ operates in two phases:
- Phase 1 – Equity Accumulation:
– Buyer enrolls into a 6–24 month automated deposit schedule
– Monthly contributions go into an interest-yielding savings account
– Option to top up with GTMB’s SALAD™ facility (up to 30% of equity)
– Buyer receives regular updates on project listings and opportunities Phase 2 – Mortgage Activation:
– Once equity reaches 30% of target property value
– HomeNow™ digital mortgage process is activated
– Balance is disbursed to seller or developer within 24 hours
– Mortgage repayment begins immediately on a fixed amortized basis
Risk Mitigation and Compliance
GTMB mitigates risk through the following mechanisms:
- Escrow-based deposit system during equity phase
- Borrower’s credit underwriting based on NMRC criteria
- Controlled exposure through verified property listings only
- Trigger-based activation limits financial exposure
- Escalation options in the event of delayed equity build-up or buyer exit
Competitive Advantage
📆 Flexible time-based equity contribution plan
📈 Earns returns on monthly deposits during equity phase
📣 Early notification of new listings and promotions
📉 Reduced upfront commitment vs. traditional mortgages
📲 Seamless digital process with personalized reminders and dashboards
🧮 Eligibility for refinancing through NMRC marketear
