Guidelines:
- Requests for increase in priority for minor/general repairs and maintenance to properties & for extension purposes, where the property will be rented out will not be entertained.
- Request for increase on priority for extension purposes, where the property will be rented out will not be entertained.
- Request for increase in priority for improvement and major upgrading may be considered provided there is substantial enhancement to the value of the property and that the total commitment inclusive of the FNPF transferred portion is within 100% of the value of the property on completion of the works.
- Where properties are valued above F$100,000 all existing security arrangements inclusive of FNPF transfers must be within 80% of the property valuation.
- The lender may register 3rd mortgage for the excess of 80% provided the total commitment inclusive of FNPF transfers is within 100% of the valuation of the property.
- Loan repayment must not exceed 35% of the member’s/joint owners’ gross income per month. Management reserves the right to consider an application on its own merit where the repayment is above 35% but not exceeding 45%. This however would be dependent on applicant’s total income.
- Incomplete request will not be accepted.
- Request from the Lender.
- The original stamped copy of title showing the latest transactions certified by Registrar of Titles Office. The certification should not be more than one month old.
- A copy of the mortgage document.
- A current valuation report of the property from one of Approved/Registered panel of Valuers. The valuation should not be over 5 years old.
- Receipts from the relevant authority showing evidence that land rental, town or city rates are up-to-date.
- Processing Fees - $35.
- A copy of the loan offer and acceptance letter from the Lender for all lending including the new loan.
- A current statement of the housing loan account.
- Applicant’s/Joint Applicant’s current salary slip or evidence of income.
- A certified copy of the member's FNPF card (front & reverse) showing the photo and signature. (The certification can be done by a FNPF Officer, Bank Officer, Justice of Peace, Commissioner for Oaths, Barristers & Solicitor.)