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: 104.25 , Selling: 115.75
  • EURO: Buying: 126.40 , Selling: 141.60
  • Sterling Pound: Buying: 147.00 , Selling: 163.45
  • Canadian Dollar: Buying: 81.88 , Selling: 93.08
  • Australian Dollar: Buying: 81.22 , Selling: 93.08
  • Swiss Franc: Buying: 113.67 , Selling: 126.46
  • Japanese Yen: Buying: 0.9238 , Selling: 1.0838
  • Swedish Kroner: Buying: 10.7325 , Selling: 16.1330
  • Norwegian Kroner: Buying: 11.535 , Selling: 14.990
  • Danish Kroner: Buying: 17.160 , Selling: 19.230
  • Indian Rupee: Buying: 1.4695 , Selling: 1.6870
  • Tanzanian Shillings: Buying: 0.04276 , Selling: 0.05314
  • Uganda Shillings: Buying: 0.02519 , Selling: 0.03539
  • SA Rand: Buying: 5.8290 , Selling: 9.4690
  • Chinese Yuan: Buying: 15.960 , Selling: 18.780
  • UAE Dirham: Buying: 28.2160 , Selling: 32.3300
  • : Buying: , Selling:
  • USD: Buying: 104.25 , Selling: 115.75