Equity Release Loan

Key Features

• Loan amount of Ksh 1,000,001 – Ability to pay
• Repayment period of 120 months depending on the customer’s profile
• The current prevailing Interest rate CBR+Margin, with Lace of 3%, Excise duty of 20% of LACE
• Loan to Value ratio,80% of the open market value, purchase price or construction cost whichever is lower of the property.
• Security: Title, charge, insurance cover for life,fire and other insurable risk

Benefits

• Ability to meet working capital nee
• Improved cash flow for your business

Target Market

• Existing and new customers who own properties that could be charged to the bank free from any encumbrances
• New to bank customers who wish to transfer their current mortgages from other financiers and require additional funds