Hi all,
I need some advice on the chances of obtaining a loan from the Housing Finance Kenya place that I've been researching.
I currently work full time in Karen and would like to stay permanently in Kenya. I am leasing at the moment but there is a house in the same Estate that is selling for 12million ksh. I would really like to know if it's actually possible and how hard it is to buy a house with a loan.
I have emailed them but if there was anyone who could help me with details such as how easily they grant loans and what kind of things they look for in savings and things like that. They require the job contract and all of that information but I want to know if anyone knows how they REALLY work and whether it's a good and accessible path to follow. I can afford to pay up to 50 000 pm off the mortgage - sometimes more.
It says that they grant up to 90% of the house price and you can pay it off up until your 60th Birthday.
I hope this makes some sense and if anyone could help me that would be great. Thanks very much
Mortgages and buying in Nairobi
Hi rebecca7!
I hope that other members will advise you soon.
Harmonie.
Rebecca,
I work in a local bank and I have a contact in Housing Finace.
Kindly inbox me. I can introduce you to my contact.
hi im a lawyer by profession - u can contact me if you want sound and proper legal advice
Hi, Suggest that you go into a branch and research it that way. When I enquired a couple of yrs ago, you could get an 80% mortgage for 15yrs. You would need to submit evidence of sufficient income, to support a mortgage.
What put us off was the interest rate!
In order to be able to obtain a loan from HFCK, you will need the following: 3 months latest pay slips, 6 months latest bank statements (of foreign account if a foreigner), Copy of your passport (if a foreigner), Copy of work permit / residency permit (if a foreigner), Employment contract, Letter of introduction from employer covering: designation, income, retirement age, terms of employment (contract/permanent) and allowances, registered power of attorney.
Once you have these, you will fill in application form
If you have already identified your property of choice, you will be required to provide: Sale agreement / draft, Sale agreement / letter of offer, Copy of title, Payment of valuation fees as will be advised.
In order to ensure the process goes on succesfully, you may need a lawyer to handle for you the loan application. i can assist you in this regard. feel free to get in touch by sending me mail in my inbox.
We look forward to hearing from you!
hey, when can i buy u lunch?
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