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About Apartment HP

Individuals with limited incomes can apply for the MTB Bank Residential Mortgage Loan/Apartment HP. They rent the property for a set period, with the option to purchase the house at the end of the rental term. The renter contributes towards monthly payments while renting.

Down Payment Loan Amount Service Charges Tenor Interest Rate
30% 70% Up to 5 years 2%

Up to 10 years 3%

Up to 15 years 5%

 Maximum 15 years 12% to 15%

Types of properties that can be purchased with a Residential Mortgage Loan/Apartment HP

  • Single housing (land and building together) (the building must be RC type)
  • Apartments (low-cost apartments, project housing, various other apartments)
  • Mini condos
  • Condominiums

Requirements

Basic Personal Documents
  • NRC
  • Passport Photo
  • Household Member List
  • Ward Recommendation Letter
  • Guarantor NRC, Passport Photo, Household Member List, Ward Recommendation Letter
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Salaried Staff
  • Salary Slip (Minimum 3 months)/ Bank Statement (Minimum 6 months)
  • Employment Confirmation Letter & Staff ID Card
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Self Employed
  • Business License/ Company Registration Documents
  • Financial Statement (1 year)
Products Requirement
  • BCC (Copy)
  • Grant/ Leasehold Land/ Freehold Land (Copy)
  • Contract between with the land owner and contractor
  • Sale contract history
  • Property Photo (Front, Back, Left, Right)
  • Map 105/106 (If the land and building)

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