Personal Mortgage Loan – Salaried
Is a loan facility to assist customer seeking to purchase an existing residential house.
The residential purchase will include the following parameters:-
a) First time home buyers
b) Switching from another financial institution to National Bank.
- Flexible financing upto 90%
- Flexible repayment term of upto 25 years
- Competitive Interest rates
- Low contribution hence less financial stress in the onset.
- Competitive interest rates.
- Comprehensive Home owner’s Life, fire & house insurance cover.
- Long tenors to make repayments stress free
- National bank accelerated payments which enables customer to pay off loan sooner than stipulated in construction loan agreement.
- Access to dedicated mortgage specialists.
Rates / Pricing
- Appraisal fee – 1.0% of loan amount.
- Stamp duty on transfer – 4%
- Legal fees – based on Advocates remuneration order
- Valuation fees – Approx. 0.4% of property value
- Insurance (Life & Fire) – 0.5% of Mortgage cover
- Debit income ratio – 65% of net disposable income
- Interest rate – 15.45% on reducing balance for business.
- Copy of ID/Passport
- Copy of KRA Pin
- 3 months payslip
- Letter from Employer
- 6 months Bank statements (non National Bank customers)
- Copy of Title
- Sale Agreement
- Land rates & rents receipts