Mortgage Loan


Product Description

Medium and long term facility for acquisition, renovation or construction of residential houses, commercial buildings, schools, medical clinics, etc...


Features
  • Repayment is monthly (Capital + Interests).
  • Interest rate is 19% declining.
  • Repayment term up to 10 Years for Employee and 5 Years for Other Customers.
  • 20% of customer contribution for Employees and 30 % for other customers.
  • Disbursement is done instalments.

Benefits
  • Attractive interest rate.
  • Property purchased or under construction serves as collateral.
  • In 14 days.
  • Residential houses.
  • Commercial building.
  • School building.
  • Medical clinics.

Requirements
    Employees

  • Completed application form.
  • Employment contract.
  • Salary certificate from employer.
  • The latest two months original certified pay slips.
  • Attestation and commitment letter of employer
  • Application form (borrower’s address, loan purpose, duration, source of repayment and collateral’s address)
  • ID copy of the applicant and his guarantor
  • Valuation report of the collateral of 100% of forcedvalue (done by a valuer which has a partnership with UNGUKA Bank Ltd)
  • Construction permit
  • Collateral title documents
  • Act of lending property if the collateral doesn’t belong to the borrower
  • Proof of legal status (marriage certificate, certificate of celibacy, widowhood, ...)
  • Life insurance is mandatory.
  • Fire Insurance post completion.
  • Provision sales agreement for purchase.

  • Others

  • Application letter.
  • Company Registration Certificate/ID copy of the applicant and his guarantor.
  • Legal status certificate.
  • RRA Tax Clearance Certificate.
  • Valuation report of the property and bill of quantity of remaining work (done by a valuer which has a partnership with UNGUKA Bank Ltd).
  • Construction permit.
  • Collateral title documents
  • Act of lending property if the collateral doesn’t belong to the borrower.
  • Life insurance is mandatory.
  • Fire insurance.
  • Provision sales agreement for purchase.
  • Notified Board resolution for companies.
  • Bank statements for the last 6 months (if account held with another financial institution).