Land Purchase

The maximum repayment period is 15 years and the rate of interest charged is 0.56% per month on the daily outstanding balance.

In addition to the basic requirements, the following must be provided:

• 10% of request on Shares
• Letter of Sale of purchase agreement
• Copy of Deed
• Valuation of the land being sold by a valuator acceptable by Eastern Credit Union
• Land tax receipts (up to date)
• WASA Clearance Certificate
• Life Insurance Policy.

Required Documents:

• 2 forms of identification per applicant
• Copy of mortgage, deed or title deed to the property / certificate or title
• Deed of lease (if leasehold land)
• Bank statement reflecting credit and loan balances
• Credit Union statements reflecting shares, deposit and loan balances
• Copies of up to date receipts of lease rental, Land and Building taxes and WASA rates.

Approved Valuators: