Friday, October 03, 2014

You need a mortgage loan in kenya?Is it a Barclay's or other? Keep on comparing

    October 03, 2014   No comments

Tired of renting houses?Then you need a home. Financing the purchase of your own home nowadays  is easy because lenders like comercial banks are looking for you.There are mortges for real estate developers, corporates and individuals.Let e take you through a mortgage package from Barclay's bank meant for individuals.
See also a mortgage loan from KCB.
Features.
-This loan is available to both customers ad non customers of Barclay's bank of Kenya who are 18 years or above.
-This mortgage loan comes with an affordable mortgage protection and fire insurance to keep your collateral safe incase of fire or damage.
-Financing will be up to 90% of the total cost to purchase a home.This therefore will you must have a minimum of 10% of the total cost of the mortgage you wish to apply for.
-The loan interest rate varies as per the customer's account. If you are new to Barclay's bank,you need to open a Barclay account, a prestige account or a premier account. Barclay and prestige account holders are charged a minimum 14.9%pa variable interest rate. Premier customers are charged a minimum of 12.9%pa variable interest rate. However,all customers can choose a fixed rate mortgage of 15.9%pa .
Qualifications.
-A borrower must be above 18 years of age with a valid Identification Card or Passport.
-The loan applicant must have a regular income of minimum amount ksh20000.This keeps it clear that the mortgage loan targets salaried individuals.
What's next for self-employed?Can they get a mortgage loan anywhere?
That's all.Any personal query can be dropped here as a comment.
Good luck.
     
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Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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