Diaspora Borrowing
Also in Diaspora Banking:
Home Equity loan
Already a home owner? Unlock the borrowing power of your home and access funds to pay for your children’s education, a vacation, or home improvements.
Benefits:
- Borrow in KES, USD, EURO, GBP
- Your income/salary currency should match the respective borrowing currency
- Financing up to 80% of Property value for KShs. mortgages
- Financing up to 80% of Property value for foreign currency mortgages
- Competitive interest rates on reducing balance
- Loan tenure of up to 15 years for KShs. Mortgages and 10 years for Foreign currency mortgages, subject to retirement age
- Arranged legal and valuation services (fees applicable)
- Locations financed will be within a County, Town and Municipality and also environs where CBA has a branch presence, subject to CBA’s discretion.
*Foreign currency mortgages are subject to foreign currency exchange movements
Associated fees
- Arrangement fees of loan amount advanced – 1% for KShs. Mortgages and 1.5% for Foreign currency Mortgages
- Legal fees
- Valuation fees
How to apply for a Home Equity Loan
- A duly filled and Signed Home Loan application and Insurance forms
- Provide a copy of Title of property free of encumbrances
- Copy of a Notarized Valid Kenyan Passport (Top inner cover, Bio Data and Photo pages)
- Notarized Evidence of current residential address (Driving license copy or a current utility bill)
- Copy of your Work Permit or Residential Permit
- Notarized 6 months most recent payslips/Paystubs
- Notarized 12 months most recent bank statements where salary/remuneration is paid into
- A Letter of introduction from employer providing you designation, remuneration, retirement age (where applicable), terms of employment (contract/permanent) and allowances (where applicable).
- Copy of your KRA Pin Certificate
- Locations financed will be within a County, Town and Municipality and also environs where CBA has a branch presence, subject to CBA’s discretion.
- Credit Reference Bureau (CRB) reports from the host country to confirm credit history.
NB: Identification and supporting documents must be Notarized by a registered notary or certified by your banker or certified by an authorized official of the Kenyan Embassy. The Notary information or stamps should be clear and legible.