Residential Plot and Construction Mortgage

Set the ball rolling on your dream home project with this mortgage plan. Let us help you acquire a plot of land of up to 5 acres to start on your home construction. You also get the liberty to choose the location for your development.

Why choose Residential Plot and 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>Choose your location</p>

    Choose your location

    You have the flexibility to select your location of choice

Rates and fees

  • Loan to value ratio – maximum of 90% of combined value or cost of plot (whichever is lower), plus the bill of quantities amount
  • Interest rate – CBR + 4% p.a.
  • Tenure – maximum of 25 years
  • Negotiation fees - up to 1.5% of loan amount
  • 6 months allowance period drawdown of plot loan and start of construction

Internal 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 transfer
  • 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

Similar products you might be interested in

Forex
  • USD: Buying: 103.95 , Selling: 115.40
  • EURO: Buying: 127.65 , Selling: 142.90
  • Sterling Pound: Buying: 140.85 , Selling: 156.95
  • Canadian Dollar: Buying: 80.48 , Selling: 91.63
  • Australian Dollar: Buying: 79.22 , Selling: 90.80
  • Swiss Franc: Buying: 117.02 , Selling: 130.01
  • Japanese Yen: Buying: 0.9471 , Selling: 1.1092
  • Swedish Kroner: Buying: 10.8615 , Selling: 16.2620
  • Norwegian Kroner: Buying: 11.45 , Selling: 14.905
  • Danish Kroner: Buying: 17.325 , Selling: 19.395
  • Indian Rupee: Buying: 1.449 , Selling: 1.665
  • Tanzanian Shillings: Buying: 0.04261 , Selling: 0.05299
  • Uganda Shillings: Buying: 0.02486 , Selling: 0.035061
  • SA Rand: Buying: 5.5380 , Selling: 9.1805
  • Chinese Yuan: Buying: 15.895 , Selling: 18.710
  • UAE Dirham: Buying: 28.1210 , Selling: 32.2350
Residential Plot and Construction Mortgage