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Housing Finance | newsletter

Introduction

Housing Finance has facilitated home ownership for over 45 years. In the recent years, there has been a worldwide push toward environmental conservation in virtually all industries including building and construction to promote sustainable development. In Kenya, energy is one of the sectors where the government is pushing the green energy agenda through utilization of renewable energy such as geothermal, wind and solar energy.

Under the Energy Act of 2006, The Energy (Solar Water Heating) Regulations 2012, stipulate that ‘all premises being constructed within the jurisdiction of a local authority with hot water requirements of a capacity exceeding 100 litres per day shall install and use solar heating systems’. By 2017, all premises (new and old) with the above stated water consumption should have installed the solar water heating systems (SWH). SWH has a number of benefits which include;

  • Saving on electricity consumption costs by up to 20%.1
  • The huge environmental benefits.
  • The equipment is maintenance-free system.
  • It provides abundant hot water – 24 hours a day.
Product Description

SolaPawa is value-add product that enables household acquire solar water heating systems enabling households to save on electricity costs as well as comply with the Energy Regulatory Commission (ERC) regulations.

Benefits
  • 100% financing of the Solar Water Heating (SWH) equipment
  • Competitive interest rate @ 18.5% p.a.
  • Quick approval process within 24 hours.
  • Extended repayment period of up to 60 months.
  • Free installation2
  • Insurance cover for the SWH equipment
  • Customized & flexible repayments terms for institutions such as schools.
  • Quality solar equipment by reputable vendors approved by the ERC.
  • Up to 7 years warranty on the solar equipment
  • A life span of more than 20 years.
  • After-sales services provided by the vendor.

REQUIREMENTS

HF Mortgage holders
  • A completed application form.
  • For individuals: National Identification, Military ID or a valid passport.
  • For companies: Certificate of Incorporation, Memorandum & Articles of Association.
  • Invoice from the vendor which incorporates insurance for full tenor

Non- HF Mortgage holders

Individuals
  • A completed application form.
  • < li>National Identification, Military ID or a valid passport.
  • Original or certified Bank statements for the last 6 months.
  • Invoice from the vendor which incorporates insurance for full tenor.
  • Copy of Title Deed where property is located

Limited Liability Company

  • A completed application form.
  • Original or certified Bank statements for the last 12 months.
  • Invoice from the vendor which incorporates insurance for full tenor.
  • Certificate of Incorporation, Memorandum & Articles of Association.
  • Copy of Title Deed where property is located

Learning Institutions

  • A completed application.
  • Invoice from the vendor which incorporates insurance for full tenor.
  • Certified or original Bank statements for the last 1 year (annual).
  • BOG minutes authorizing borrowing supported by Ministry of education authority to levy the repayment funds from the parents (in case of public school), number of students / pupils.
  • BOG minutes appointing the current BOG members.
  • Copy of Title Deed where property is located

NGOs

  • A completed application form.
  • Invoice from the vendor which incorporates insurance for full tenor.
  • Certified or Original Bank statements for the last 1 year (Annual).
  • Copy of Title Deed where property is located

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Head Office: Rehani House
Kenyatta Avenue / Koinange Street
PO Box 30088 – 00100 GPO
+254(20)-3262000, 0722715256, 0722708660, 0722201175, 0733617682.