TogetherNest™ Plan
Product Overview
TogetherNest™ Mortgage is a collaborative homeownership product by Global Trust Mortgage Bank designed for friends, families, cooperatives, or diaspora groups who wish to co-invest in residential properties. Each member of the group is underwritten independently using NMRC-compliant criteria, and the group is bound by a co-responsibility agreement under a legal trust structure. This enables flexible, secure and efficient access to property ownership while ensuring collective responsibility and reduced individual risk.
Key Features
- Group mortgage product for friends, family, associations, and diaspora communities
- Each member underwritten individually based on NMRC guidelines
- Legal trust structure to hold asset and regulate group participation
- Group agreement to absorb obligations of defaulting or exiting members
- Compulsory LifeShield™ Mortgage Insurance for each participant
- Instant mortgage disbursement upon group equity contribution (30% minimum)
- Dedicated mobile/web interface for group coordination and updates
- Access to verified homes on GTMB’s pre-approved list
- Compulsory fixed deposit of 3–6 months repayment in interest-yielding escrow account
- Eligibility for refinancing through NMRC secondary market
Eligibility Criteria
Each member of the group must satisfy the following conditions:
- Minimum verifiable income of ₦250,000/month
- Full-time employment or 24+ months of verified business income
- Age 25–60 years at loan maturity
- Clean credit report and minimum score of 650
- BVN and NIN verification completed
- Debt-to-income ratio must not exceed 33%
- Acceptance of joint risk responsibility and exit absorption clause
Group Structuring and Mortgage Process
TogetherNest™ is built on a digital-first, trust-regulated group structure. Each approved group is linked to a legally binding co-investment trust account managed by GTMB. This trust holds title to the property until the mortgage is fully repaid. Each participant is fully underwritten before group approval. The process includes:
- Group creation and member registration via app
- Individual credit and income verification
- Acceptance of co-responsibility and legal trust agreement
- Property selection from GTMB pre-approved portfolio
- 30% group equity contribution and trust account funding
- 24-hour digital disbursement of balance to seller or developer
Compulsory LifeShield™ Insurance
All members are enrolled in LifeShield™—a bundled insurance product that secures repayment continuity. It includes:
– Death
– Job loss protection (up to 12 months)
– Permanent disability
– Hospitalization-induced default waivers
Risk Management Framework
To safeguard group and institutional interests, TogetherNest™ includes:
- Legally constituted co-investment trust structure
- Binding group agreement on default absorption
- Fixed deposit requirement as cash reserve
- Pre-approved, verified properties with clean title and valuation
- Transparent digital dashboard and statement tracking
- Full NMRC compliance for secondary market access
- Structured group exit protocols for defaulters or exiting members
Competitive Advantage
👥 Encourages group-based wealth creation and homeownership
📜 Legal framework for asset protection and dispute resolution
📲 Seamless digital onboarding, documentation, and status tracking
🛡️ Insurance and escrow fund buffers reduce risk exposure
🌍 Accessible to diaspora groups and associations with verified income
🔁 Mortgage can transition into individual names post-repayment or refinancing
