Mortgage Accepted Properties
What Properties Qualify for a Mortgage?
Not all properties qualify for mortgage financing. Mortgage-accepted properties must meet specific legal, technical, and valuation standards to protect both the buyer and the lender.
Bill Cotey Realty’s Role
We assist clients by:
- Verifying property documentation
- Conducting land title searches
- Identifying potential risks early
- Advising on mortgage suitability before purchase
This proactive approach saves time, money, and future legal complications
Key Requirements for Mortgage-Eligible Properties
1. Clear Ownership & Title
Properties must be supported by valid documents such as:
- Land Title Certificate
- Registered Indenture
- Allocation note (where applicable)
The property must have no unresolved disputes, encumbrances, or conflicting claims.
2. Adequate Lease Term
Mortgage-accepted properties must have a sufficient unexpired lease term, typically 25 years or more, depending on the mortgage tenor.
3. Approved Land Use & Zoning
The property must comply with:
- Local zoning regulations
- Planning approvals
- Residential-use classification
4. Completed or Approved Development
Mortgage facilities generally apply to:
- Completed residential properties
- Approved off-plan developments by credible developers
Unapproved or informal structures are usually not accepted.
5. Proper Site Plan & Survey Data
A certified site plan and clear boundary definition are essential to avoid:
- Overlapping claims
- Boundary disputes
- Title rejection during verification