Mortgage is a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Targets those who purchase or construct a single unit for residing purposes.
Max LTV is 90% of purchase price/open market valuation price (whichever is lower) OR Priced Bill of Quantities
Max loan tenure is 25 years.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who purchase or construct multiple units for income generating purposes e.g. offices & rental units.
Max LTV is 80% of purchase price/open market valuation price (whichever is lower) OR Priced Bill of Quantities.
Max loan tenure is 20 years.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who construct multiple units for selling purposes e.g. offices & residential units.
Max LTV is 70% of Priced Bill of Quantities.
Max loan tenure is 36 months.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who have existing mortgage with the bank and need new lending against the same security held by the bank.
Key factors are current OMV of the security, outstanding loan balance & repayment ability.
Max LTV is 80% & 90% of OMV if security is commercial and residential respectively.
Loan tenure is dependent on purpose.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who have existing, viable, developed & unencumbered security of which the bank can charge and lend against.
Key factors are current OMV of the security & repayment ability.
Max LTV is 80% & 90% of OMV if security is commercial and residential respectively .
Loan tenure is dependent on purpose.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who purchase pieces of land not exceeding 2 acres.
Max LTV is 70% of purchase price/open market valuation price (whichever is lower).
Max loan tenure is 120 months.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who purchase pieces of land not exceeding 2 acres and construct a residential unit within 6 months after plot acquisition.
Max LTV is 90% of total cost of purchase price/open market valuation price (whichever is lower) & priced bill of quantities.
Max loan tenure is 25 years depending on whether commercial or residential.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets corporates who require a scheme for their employee.
View Mortgage Scheme DetailsFlexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets employees earning a net income of KES 150,000, applying mortgage of over KES 10 million & purchasing/constructing a residential unit. Interest rate is Base – 1.5%.
Max LTV is 90% (Advantage customers) of purchase price/open market valuation price (whichever is lower) OR Priced Bill of Quantities.
Max LTV is 70% (Diaspora customers) for repayment ability we use 50% of gross income.
Max loan tenure is 25 years*(Diaspora is 20).
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets employees earning in USD and purchasing a residential unit.
Max LTV is 90% of purchase price/open market valuation price (whichever is lower).
Sale agreement price, loan disbursement & repayments are in USD.
Max loan tenure is 10 years. Interest rate is 10% for residents and 9.5% for Kenyans living in abroad.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets those who purchase or construct, renovate a single unit for residing purposes, It can be facilitated for personal loans buy offs with intention of construction or buying a ready house.
Maximum Mortgage is 10.5 Million in Nairobi and main counties.
Max LTV is 105% of purchase price/open market valuation price (whichever is lower) OR Priced Bill of Quantities.
Max loan tenure is 25 years for employed and 15 years for self employed.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
Targets developers who are borrowing huge amounts exceeding single borrower lending limits .
More than one financier on the project.
Security is a prioritized legal charge based on amount lent to the developer.
Flexibility in assessing repayment Ability-Joint income considered, rental income, employment income, business income etc.
Long term repayment period.
Release of Construction funds in a max 4 installments.
Applicants to service interest during construction and another 2 months thereafter.
