• Construction loans are disbursed in four phases, 25% of the loan at a time – subject to architect’s certificate and relationship manager report.
  • Building plans must be approved.
  • Bill of quantities (BQs) must be drawn by independent and qualified quantity surveyor.
  • Construction site must be urban property intended for residential use.
  • Both pre and post-construction evaluation fees are applicable.
  • Stage valuations are done throughout the construction process.
  • Up to 100% of the construction costs if a plot is already owned
  • Up to 80% for buying and building – with a maximum 20-year payback period
  • Fixed-price contract for amount above KES10m
  • 9-month moratorium during construction after which repayment starts
  • Interest paid only on the amount drawn
Costs Percentage of mortgage amount (aproximate)
Transfer stamp duty 4% of home value / 2% for upcountry
Stamp duty on charge 0.1%
Negotiation fees 1% to 2%
Legal fees 1.2%
Fire insurance 0.125%
Home loan protection cover 0.3%
Valuation fees 0.25% of value of property

There are also costs involved for on-site visits that are variable depending on the location of your property.

Insurance and protection costs are annual.

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