Home Loans
FINANCE
Relocations Kenya works closely with reputable banks and other finance instutions to enable our associates make the right choices, when it comes to getting loans. If you live abroad, contact us to find out how we can assist you to make your dream investment at home.
CURRENT INTEREST RATES
Interest rates depend on individual lending institutions but generally range between 13% - 15% per annum
LOAN TYPE |
RATES |
Residential homes |
15% per annum |
Commercial / Income generating loans |
15% per annum |
Estate Development |
13% per annum |
Speacial schemes under check-off arrangements |
Negotiable |
PURCHASE A PROPERTY
| LOAN TYPE |
LOAN |
OWN CONTRIBUTION |
| Own occupation |
80% |
20% |
| Income generating |
70% |
30% |
CONSTRUCTING
If you intend to construct a property, the loan, loan type and own contribution at the moment, remain as above.
REPAYMENT METHOD
Individual borrowers maximum - 15 years
Limited companies maximum - 10 years
Estate developement maximum - 24 months per phase
REQUIREMENTS
EMPLOYED PERSONS
| 1 |
Pay-slips for the latest 3 months |
| 2 |
Letter from employer confirming employment status |
| 3 |
Bank statements for the latest six months |
| 4 |
Copy of ID or passport |
| 5 |
Open a mortgage related account - balance 10,000/= |
| 6 |
Two passport size photographs |
| 7 |
Sale ageement duly signed by both parties and witnessed by a lawyer |
| 8 |
Copy of title to property being purchased/charged (mininum lease term 45 years) |
| 9 |
Net disposable income 25% of net income to accommodate domestic expenses.
|
| 10 |
Valuation report plus photographs of property being financed and/or charged together with certificate of official search from land registry |
SELF EMPLOYED PERSONS
| 1 |
Bank statements for the latest six months |
| 2 |
Copy of ID or passport |
| 3 |
Open a mortgage related account - balance 10,000/= |
| 4 |
Two passport size photographs |
| 5 |
Sale ageement duly signed by both parties and witnessed by a lawyer |
| 6 |
Copy of title to property being purchased/charged (mininum lease term 45 years) |
| 7 |
Net disposable income 25% of net income to accommodate domestic expenses. |
| 8 |
Valuation report plus photographs of property being financed and/or charged together with certificate of official search from land registry |
| 9 |
Tenancy agreement for rented property (ies) |
| 10 |
Copies of FDR., together with originals for certification |
The above rates and information are given by S & L - The Mortgage Company and a subsidiary of KCB. Read more.
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