Residential Construction Mortgage

Have a dream home in mind you would like to make into reality? Or do you simply need to revamp your house and give it a face lift? We have just the loan product to accommodate your vision and your payment flexibility.

Why choose Residential Construction Mortgage

  • <p>Customizable</p>
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    Customizable

     

    Ability to customize design to specific taste

  • <p>Home ownership</p>
<p> </p>

    Home ownership

     

    Get a peace of mind that comes with owning your own home

  • <p>Increase assets</p>

    Increase assets

    Invest in your home and add it to your list of properties owned.

  • <p>Value appreciation</p>

    Value appreciation

    You stand to gain from the increase in value of the property over time

  • <p>Mortgage relief</p>
<p> </p>

    Mortgage relief

     

    Enjoy a reduction of tax on your income while servicing the loan

Rates and fees

  1. Loan to value ratio - maximum of 90% of bill of quantities amount
  2. Interest rate – CBR + 4% p.a.
  3. Tenure – maximum of 25 years
  4. Negotiation fees - up to 1.5% of loan amount

Inernal costs

  • Negotiation fees

External costs

  • Mortgage Protection Insurance (MPI)
  • Contractors All Risk Policy during construction
  • House Owners Comprehensive Insurance (HOCI) upon 100% completion
  • Valuation fees
  • Stage inspection fees
  • Stamp duty on charge
  • Legal fees
  • Search fees
  • Statutory payments (statutory approvals for architectural and structural drawings, land rates, rent and all taxes)
  • Technical consultants fees

Interested in Residential Construction Mortgage or have a question?

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Forex
  • USD: Buying: 127 , Selling: 132
  • EURO: Buying: 130.60 , Selling: 153.25
  • GBP: Buying: 159.15 , Selling: 175.26
  • Canadian Dollar: Buying: 89.97 , Selling: 104.50
  • Australian Dollar: Buying: 82.22 , Selling: 95
  • Swiss Franc: Buying: 134.76 , Selling: 155.10
  • Japanese Yen: Buying: 0.7207 , Selling: 0.8968
  • Swedish Kroner: Buying: 8.887 , Selling: 15.4608
  • Norwegian Kroner: Buying: 9.1730 , Selling: 15.0203
  • Danish Kroner: Buying: 15.5265 , Selling: 19.7624
  • Indian Rupee: Buying: 1.3266 , Selling: 1.8241
  • Tanzanian Shillings: Buying: 0.0444 , Selling: 0.0557
  • Uganda Shillings: Buying: 0.0296 , Selling: 0.0408
  • SA Rand: Buying: 5.11 , Selling: 9.35
  • Chinese Yuan: Buying: 17.0100 , Selling: 19.3850
  • UAE Dirham: Buying: 31.3309 , Selling: 38.3959
  • RWF: Buying: 0.0888 , Selling: 0.1382