NCBA, Fanaka Real Estate sign house financing plan

May 27, 2024 Newsroom

Lender NCBA has agreed with Fanaka Real Estate to offer its customers land purchase, construction financing, buy and build loans. According to NCBA, potential homeowners will get financing of up to 100 percent. Through the partnership, NCBA will provide mortgage loans to salaried and non-salaried customers of Fanaka Real Estate.

Salaried buyers will enjoy payment terms up to retirement age, while non-salaried customers will have terms up to the age of 65. In addition, the Bank will also avail the Buy and Build financing option of up to 100 percent, enabling customers to buy a piece of land and construct it at the same time.

Commenting on the partnership, NCBA’s Group Retail Director, Tirus Mwithiga noted, “Owning property is more than just a transaction; it’s the cornerstone of stability, security, and prosperity. At NCBA, we are dedicated to making this dream a reality for our customers. Through our strategic partnership with Fanaka Real Estate, we are not just providing loans; we are unlocking doors to homeownership with innovative financing solutions tailored to the diverse needs of our customers.”

During the launch of the partnership, Fanaka Real Estate CEO Moses Muriithi said, “At Fanaka Real Estate, we believe that accessible home ownership is the right of every citizen. We are committed to making land ownership in the dormitory counties of Machakos, Kiambu, and Kajiado as affordable as possible for everyone.”

“Fanaka Real Estate’s ability to offer aspiring homeowners innovative mortgage products from NCBA underscores our commitment to providing homes for all income groups,” Muriithi added.

Last year, NCBA rolled out a home acquisition initiative that enables Kenyans to own homes at an affordable fixed rate of 9.5 per cent. The property loan covers both land purchase and construction, house set up on owned land, and direct purchase of houses/apartments meant for owner occupation.

The Bank has partnered with key players such as Fanaka Real Estate to support our customers with a common goal of revolutionising the real estate landscape by enhancing affordable housing for all.

In addition, the Bank also provides a host of Property Financing options for customers such as: Property Purchase, Plot Purchase Loans, Construction Loans, Easy-build, Equity Release Solutions, Mortgage Transfer/Buy-out and Mortgage Top-Up loans.