Plot Purchase

Own a plot today and grant yourself the opportunity to become a developer. This product enables you to purchase a plot of land for future construction or development for up to 70% financing of the selling price or value, whichever is lower.

 

Requirements for Employed Persons; ID/Passport copies

  • KRA PIN Copy
  • 3 months' payslips
  • 6 months' salary bank account statements
  • Letter from employer

 

Requirements For Self-Employed Customers

  • ID/Passport copies
  • KRA PIN Certificate
  • 3 years' audited books of account
  • 1 year bank statements
  • Certified copy of partnership deeds (for partnerships) and Rental schedules (for Landlords)

 

Features

  • Up to 70% financing of the selling price or value whichever is lower
  • Maximum loan term of up to 5 years .

 

Fees & Rates

  • Commitment Fee of 1.5%.
  • Valuation fee of approximately 0.5%.
  • Legal Fees of approximately 1-2%.
  • Stamp duty of 4%

 

Benefits

  • Affordable way to purchase plot
  • Availability of construction loans to develop the plot

TIPS

What Motivates Purchase Towards Off-Plan Projects?

There are several factors that influence purchase towards off plan projects

Your Level of Debt Commitment Matters

If you are submitting a mortgage application, the last thing any prospective lender will want to

You Need Proof of Income in Order to Qualify for a Mortgage

Banks will want to see proof of how much you earn.

You need to produce at least 3 months