Self Funding
SEHI has carefully designed this funding model to assist members that could not secure mortgage from our partner banks. This options provides an agreed interval direct remittances by the member to SEHI who will use the funds so remitted to deliver the project within the agreed time.
SEHI Estates are located in the major cities of the South East States, namely
Aba, Awka, Abakaliki, Enugu, Nnewi, Umuahia, Owerri
TO QUALIFY: Member must undertake, in signing, on an agreed strict interval fund remittances upon which same measure his or her project will be carried on and delivered
To subscribe to the Self Funding Model, the following simple steps should be followed:
1. Expression and Subscription Forms: As soon as you have made up your mind on the type of house you would need and the location too, kindly complete the Subscription Form and submit same as instructed.
2. Issuance of Offer Letter On the receipt of the completed expression form, a preliminary offer letter shall be issued to you. The Offer Letter will form part of the document required to review your mortgage application.
3. Confirmation of Funding Option: On receipt of your Subscription Form, you will further submit all relevant documents with which the application would be vetted for approval.
4. Allocation of Plot:/Allocation Letter: At the approval of the Self Funding application, and payment of the mandatory initial deposit of 20% of the total cost of project, all other relevant fees, including the mandatory Application Administration feethe plot of your choice shall be allocated to you in your choice location/estate.
5. Execution of Development Agreement: Immediately you are issued the Allocation Letter for the said Plot, you are expected to execute the Development Agreement with the SEHI Initiative. To do this, you must have obtained the Survey Plan of the assigned plot, paid all government and relevant fees and show evidence of immediate commencement of work at the site. Furthermore, the agreement shall be specific on all terms including the intervals of remittances, duration of agreement/time of delivery, penalties for defaults and cost of project.