Business Banking
Business Banking
Business Banking
Lending Solutions

105OYOH

This is to cater for the sales price plus the closing cost i.e. Stamp duty and legal fees to facilitate home ownership.

Features

  • Loan tenure - up to 25 years.
  • Facility fees- 1%
  • Debt to Income Ratio : Not exceed 60% of Net Salary
  • Minimum loan amount : KShs 1 million
  • Maximum amount: Nil
  • Free cover limit: loan amount of KShs 20 million and below
  • Interest rates: Pegged to CBR for local currency

Benefits

  • Flexible repayment terms
  • When assessing ability to repay (joint, rental and alternative incomes will be considered). Joint income from spouse, siblings & children will be considered in assessing repayment ability
  • Bank finance all amount required to own the property
  • Mortgage Protection Insurance (MPI) cover limit up to Kes.20M without need for medical checkup, retrenchment cover and social perils cover included
  • Competitive Interest rates
  • For all customer buying their first house
  • Customer seeking second mortgage with a gross salary of Kshs 400,000 and below

Access to all other CBA banking products (e.g. Overdrafts, credit cards, current account, Mobile and internet banking.)

Standard Requirements

  • Proof of income
  • Proof that you can meet related costs e.g. Stamp duty, lawyers’ fee, valuation report etc.
  • Sale agreement

Rates & Fees

  • Competitive interest rate.
  • Facility Fee-1% of loan amount
  • Legal Fees
  • Valuation fees
  • Stamp duty (4% of cost of property or value on the open market)
  • Excise Duty
  • Insurance fees i.e. Domestic package and Mortgage protection cover.