Fulfilling Dreams

Greenpark is a unique lifestyle development that offers the best of country living within easy reach of the city along a new highway.

Greenpark's planning and execution focuses on today’s home owners needs with efficient supply of utilities, ample security and developed infrastructure to ensure that your home is not only a beautiful place to live, but also offers you complete peace of mind.

DIASPORA MORTGAGE LOAN

Here at CFC Stanbic bank we have realized the importance of our Diaspora clients and therefore came up with a mortgage product tailor made to suit their needs.

To Qualify
• We will finance up to 70% of the purchase price.
• The period of repayment is not more than 20 years
• The monthly payments should not exceed 50% of your gross monthly income (Spouse & business income is considered)
• If the property is leasehold, the remaining term under the lease will not be less than 45 years.
• On approval of the loan, you will be required to open an account with the Bank, through which your monthly income will be channeled.
• The applicant must be a professional.

Documents Required.
• A completed home loan application form - Bank to provide
• Copy of your current payslip/ proof of income
• Copy of your employment contract
• Copy of your Kenya Revenue Authority PIN certificate
• Certified copies of 12 months bank statements
• A letter from the employer confirming employment terms, income and residential address.  If the customer is on a short dated employment contract, evidence of at least 1 previous renewal must be provided.
• A Valid VISA and work permit.
• A copy of your identity document/passport
• Evidence of Kenyan citizenship
• Evidence that applicant is a professional.

Other
• We allow you to pay in lump-sum or clear the full outstanding loan at any time without any penalties
• We also allow you to top-up your mortgage loan anytime you want. I.e. you can borrow back what you have paid.
• Approval is within 1 week of receipt of all documentation.

Associated costs you should be aware of
• Our arrangement fee is (1% of the loan amount).
• Valuation fee
• Lawyers fee
• Stampduty (Government 4% of the value of the Home).

Frequently Asked Questions

What amount can I borrow from Stanbic to buy a home?

Stanbic will lend you a minimum of KES 1,000,000 to buy a home. The maximum home loan amount available to you is dependent on your income and repayment ability.

WIs the Stanbic home loan a fixed or variable rate mortgage?

The Stanbic home loan facility is a variable rate mortgage meaning that it changes with any change in the bank’s base rate.

What percentage does Stanbic finance?

Stanbic will finance up to 70% of the value of the property.

How long will I have to wait before I know the status of my loan application?

Within 1 week of submitting your application together with the supporting documentation required.

Do you finance construction?

No, unless you mortgage an existing house already in your name.

What interest rate will I be charged on my home loan?

The rate will be determined after a credit assessment of your financial position. The current rates range from 24% per annum to 25% per annum. If you are taking it in Kenya Shilling

If you are taking it in US dollar, Euro, or Pound then the interest rates are currently pegged at 9.75%. (you must be earning I either of the currencies.)

Are there other costs related to buying a home?

Yes. There are other costs you need to be aware of when buying a property. Some of which are:

• Government Stamp Duty at 4% of value of the property (urban)
• Insurance cover on your mortgage and to protect your property
• Professional fees for valuation, legal and facility arrangement services.

Does Stanbic require a deposit from me?

You will need to pay 30% to the seller. We finance up to 70% of the cost of the property subject to conditions.

How long can I take to repay my home loan?

A maximum of 20 years depending on your age.

Does the bank charge a fee to process my loan?

Yes, the bank charges a loan facility fee of 1.5% of the approved loan amount.

Will the bank penalise me if I repay my home loan early?

No, there is no early loan repayment penalty. We also allow lump-sum payments with no penalty.

Can you collect drinking water from the roof?

Drinking water collection from Decra AHI roofs is approved and certified by the WHO.

Construction on the apartment I am interested in buying is not yet complete and I wish to book it. Can I get a pre-approval on my home loan?

Yes. You apply for the loan in the normal way, and then once it is approved, you wait for the property to be completed before proceeding further.

Do you take over home loans from other banks or financial institutions?

Yes, subject to your meeting our qualifying criteria.

Do you finance up-country home loans?

Stanbic finances existing, developed, residential property in Nairobi or Mombasa, however we handle this kind of request on a case by case basis.