NCBA Group has forged a strategic alliance with Fanaka Real Estate, a move set to revolutionize the Kenyan housing market by providing a comprehensive suite of home financing solutions tailored to the diverse needs of aspiring homeowners.
NCBA and Fanaka Real Estate aim to make homeownership more accessible and affordable for both salaried and non-salaried individuals. The collaboration will offer a range of options, including land purchase, construction financing, and buy-and-build loans, with facilities of up to 100% for potential homeowners.
“Owning property is more than just a transaction; it’s the cornerstone of stability, security, and prosperity,” said Tirus Mwithiga, NCBA’s Group Retail Director. “At NCBA, we are dedicated to making this dream a reality for our customers. Through our strategic partnership with Fanaka Real Estate, we are not just providing loans; we are unlocking doors to homeownership with innovative financing solutions tailored to the diverse needs of our customers.”
The partnership caters to both salaried and non-salaried customers of Fanaka Real Estate. Salaried buyers will enjoy payment terms up to retirement age, while non-salaried customers will have terms up to the age of 65, providing flexibility and accessibility for a broader range of homebuyers.
Moreover, NCBA will offer a groundbreaking “Buy and Build” financing option, enabling customers to purchase land and construct their homes simultaneously. For those who already own land, the bank’s construction solution will help actualize their dreams of homeownership.
“At Fanaka Real Estate, we believe that accessible home ownership is the right of every citizen,” said Moses Muriithi, CEO of Fanaka Real Estate. “We are committed to making land ownership in the dormitory counties of Machakos, Kiambu, and Kajiado as affordable as possible for everyone.”
Muriithi highlighted the partnership’s significance, stating, “Fanaka Real Estate’s ability to offer aspiring homeowners innovative mortgage products from NCBA underscores our commitment to providing homes for all income groups.”
Last year, NCBA rolled out a home acquisition initiative that enables Kenyans to own homes at an affordable fixed rate of 9.5%. The property loan covers land purchase, simultaneous construction, construction on owned land, and direct purchase of houses/apartments meant for owner occupation. The bank has partnered with key players such as Fanaka Real Estate to support its customers with a common goal of revolutionizing the real estate landscape by enhancing affordable housing for all.
In addition to the Fanaka partnership, NCBA also provides a host of Property Financing options for customers, including Property Purchase, Plot Purchase Loans, Construction Loans, Easy-build, Equity Release Solutions, Mortgage Transfer/Buy-out, and Mortgage Top-Up loans.
