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Unpacking The NCBA Home Loan: Why Your Time To Own A Home Is Now

BY Soko Directory Team · July 6, 2023 08:07 am

KEY POINTS

NCBA mortgages offer home loans in Kenya of up to 105 percent of the value of the property for persons seeking to acquire, construct, and finance property in major urban and rural areas within major towns.

Ah, the importance of having a home, that sacred haven where mismatched socks find solace and the fridge acts as a portal to culinary delights. It’s the place where you can unabashedly belt out your favorite tunes in the shower, all while envisioning yourself as the next superstar.

It’s where the cozy warmth of a well-loved couch embraces you like a comforting hug, and the walls listen to your secrets without judgment. Your home is the fortress where you battle the chaos of the outside world, armed with blankets and remote controls, and emerge victorious as the reigning champion of relaxation.

Related Content: Dear Entrepreneur, Here Are Reasons Why NCBA Is The Bank To Go To For Your Financial Needs

The journey to owning a home is not that easy. It is expensive, resources-demanding, and sometimes tiring. The amount of resources in terms of cash needed often makes millions of people opt for renting rather than having a home of their name.

The truth is, however much you pay in terms of rent, whether you live in the slums or in one of the posh estates in the country, and if you have no home in your name, if you are still paying rent, then you are homeless. But there are better, easy, and more convenient ways to own a home, and this is what I am about to tell you about; NCBA Home Loans:

Related Content: Is Loop By NCBA Bank Kenya Worth The Hype?

The Home Loans

NCBA mortgages offer home loans in Kenya of up to 105 percent of the value of the property for persons seeking to acquire, construct, and finance property in major urban and rural areas within major towns.

These properties may be for owner-occupation or investment purposes. The bank offers some of the most competitive Mortgage rates in Kenya to both local and diaspora customers.

The Steps

Step 1: Loan application. The customer interested in securing a Home Loan will be required to fill out forms and submit all the necessary requirements.

Step 2: The forms will be assessed by the bank for approval.

Step 3: The NCBA Offer Letter. Here, the customer will be required to fulfill all the requirements in the offer letter.

Step 4: The valuation of the property will be done by a valuer from NCBA.

Step 5: Security perfection/conveyance. Here, the transfer of title and or Legal Charge on the title – Done by an NCBA-approved lawyer will be done.

Step 6: The funds are released to the customer’s bank account.

Related Content: NCBA Bank Kenya’s Citizenship Program: Branching Out For A Greener Future

What are the key features that make them tick?

Mortgage loan facilities of the loan amount in local currency, 1.5 percent of the loan amount in foreign currency.

NCBA mortgage loans are offered in Kenya Shillings, Dollars, Pounds, and Euros.

Up to 105 percent Financing of property value or market price whichever is lower.

Maximum term of up to 25 years.

Home loan Interest is calculated on a reducing balance basis.

Click HERE for more information on the NCBA Home Loans and HOW to Apply.

Related Content: Valine Akoth Crowned Overall Winner Of The NCBA Sponsored Mug Golf Tournament At Thika Barracks Golf Club

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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