Growing up, a good number of people myself included always harbored this dream of owning a beautiful home in the leafy suburbs. That was until we grew up and got a reality check that owning a home is not a walk in the park due to high property prices and the tough economic conditions. However, all is not lost as the NCBA Mortgage facility is designed to turn dreams into reality.
As a first-time home buyer, the process of acquiring a home can seem daunting from shopping around for a house, getting the finances, while ensuring that you are getting value for money. For those who opt to go the construction route, things are tougher as they also have to factor in dealing with architects, contractors, getting approvals from the County governments among others. Not to mention the fact that the prices of building materials seem to rising every other day.
It was this myriad of problems that the NCBA mortgage facility was designed to cure. This is in a bid to ensure that owning a home does not turn into a game of Russian roulette.
Here are some of the reasons why you should consider the NCBA mortgage facility is you are planning to buy or construct a house.
Variety of Mortgage Products
Whether you are planning to buy or build a house, NCBA has a facility that is specifically tailored to fit your need. These include.
- Home Purchase Loan; For those who want to purchase a ready made house, this is the facility for you. NCBA offers loans of up to 105% of the value of the property provided that it is in a major urban area or a rural area within major towns.
- NCBA Easy Build; Want to build a house but you don’t know where to start? This is the product for you. This option allows one to get off the shelf building plans and full professional services which can enable you to build the house without any stress. This includes connecting you to Architects, Engineers, Quantity Surveyors, Contractors and even getting the necessary approvals for you. All you need to do is sign the dotted lines and wait for the house to be completed.
- Plot Land; Have you seen a plot in a really nice place where you would like to build one day but you don’t have the finances? Worry not as NCBA has got you covered with their plot loan. The bank finances up to 70% of the value of the land and allow you to repay over a period of 5 years.
- Equity Release; Already have a home but there is a project that you need to invest in but don’t have adequate resources? The NCBA Equity Release is just the product for you, the bank allows you to get financing with your house being the collateral. One can be able to get up to 90% of the value of the property.
Competitive Rates
Part of the reason that a good number of people keep of mortgages is the interest rates that are usually charged. This is because a slight variation in the rate can lead to a steep hike in the monthly payments. NCBA is however offering their mortgage facility at an affordable rate of 9.5% which is payable over a period of 25 years.
To ensure that you have peace of mind, NCBA also offers two interest rates that is a variable and a fixed interest rate. If one opts for a fixed interest rate, they will pay the same amount for the duration of the loan. With the variable rate changing depending on the Central Bank rate.
Diaspora Mortgage
We have all heard of the sad tales of how a person living in the diaspora trusted their relative to build them a house. Only to come home a few years later to find out that they had been duped with their money having gone down the drain.
As a response to this, NCBA came up with a product which enables someone in the diaspora to access a mortgage facility. The facility enables them to have their house built for them by professionals under the supervision of the bank. All they have to do is sign the documents and nine months later they have the house of their dreams without breaking a sweat. How cool is that??
So, if you are looking to buy or build a house. Look no further than the NCBA Mortgage facility and turn your dream of owning a home into reality.