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

Interested in Residential Plot and Construction Mortgage or have a question?

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Forex
  • USD: Buying: 104.65 , Selling: 118.75
  • EURO: Buying: 118.65 , Selling: 137.15
  • Sterling Pound: Buying: 139.90 , Selling: 161.61
  • Canadian Dollar: Buying: 80.72 , Selling: 92.82
  • Australian Dollar: Buying: 73.52 , Selling: 85.68
  • Swiss Franc: Buying: 110.01 , Selling: 125.60
  • Japanese Yen: Buying: 0.8766 , Selling: 1.0317
  • Swedish Kroner: Buying: 9.212 , Selling: 15.736
  • Norwegian Kroner: Buying: 9.628 , Selling: 15.480
  • Danish Kroner: Buying: 14.342 , Selling: 18.582
  • Indian Rupee: Buying: 1.2426 , Selling: 1.7796
  • Tanzanian Shillings: Buying: 0.04335 , Selling: 0.05462
  • Uganda Shillings: Buying: 0.02648 , Selling: 0.03768
  • SA Rand: Buying: 5.2746 , Selling: 9.5225
  • Chinese Yuan: Buying: 16.025 , Selling: 18.845
  • UAE Dirham: Buying: 28.432 , Selling: 32.496
  • RWF: Buying: 0.0976 , Selling: 0.1609