Capital Markets

NCBA, Tatu City ink mortgage deal

tatu

Tatu City signage. The Special Economic Zone is set for expansion. FILE PHOTO | NMG

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Summary

  • Under the deal, the lender will provide prospective homeowners with options including plot purchase, construction financing, buy and build loans, equity release and closing costs.
  • The bank said the mortgages are available to both salaried and non-salaried customers of Tatu City, where salaried buyers will enjoy payment terms up to retirement age while non-salaried customers will have terms up to the age of 65.

NCBA Bank #ticker:NCBA has partnered with Tatu City to provide mortgage facilities to house buyers at the Kiambu County-based mixed use property development.

Under the deal, the lender will provide prospective homeowners with options including plot purchase, construction financing, buy and build loans, equity release and closing costs.

The bank said the mortgages are available to both salaried and non-salaried customers of Tatu City, where salaried buyers will enjoy payment terms up to retirement age while non-salaried customers will have terms up to the age of 65.

“This facility enables customers to buy a piece of land and construct simultaneously. For customers who already own a piece of land, our construction solution will go a long way in actualising their dreams,” said Tatu City head of residential sales Beatrice Njeri.

This is the second bank with which the property developer has inked a mortgage financing deal for potential customers.

In July, it signed an agreement with Absa Bank Kenya to provide customers with similar home ownership financing, including insurance products.