Kenya’s NCBA bank, Tatu City ink mortgage deal

KENYA – NCBA Bank has partnered with Tatu City, a leading urban developer in Kenya to provide mortgage facilities to house buyers at the property developers’ based mixed use property development location in the outskirts of the capital city Nairobi.

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

Tatu City is aligned with the vision of the Kenya’s capital city Nairobi’s Metro 2030 Strategy.

Tatu City is a planned 5,000-acre, mixed-use development with homes, schools, offices, a shopping district, medical clinics, nature areas, a sport & entertainment complex and manufacturing area for more than 150,000 residents and tens of thousands of day visitors.

 Schools and businesses are already open at Tatu City and a range of houses are under construction to suit all incomes.

Tatu City represents a new way of living and thinking for all Kenyans, creating a unique live, work and play environment that is free from traffic congestion and long-distance commuting.

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