Tatu City has partnered with NCBA for a mortage financing deal which will offer aspiring homeowners’ mortgages at the 5,000-acre Special Economic Zone on Tatu’s mixed-use development in Nairobi.
NCBA Head of Property Finance Stella Mutai confirmed the report and explained that under the deal, NCBA will provide a suite of options to prospective homeowners including plot purchase, construction financing, and buy-and-build property finance loans.
Mortgages are available to both salaried and non-salaried home buyers at Tatu City. Salaried buyers will enjoy payment terms up to retirement age and non-salaried customers will have terms up to the age of 65.
“Owning a home has never been easier, and this partnership has been designed to enable home buyers to realize their dream of living and working at Tatu City,” said Stella Mutai.
“At Tatu City, we believe that accessible homeownership is the right of every citizen. Tatu City’s ability to offer aspiring homeowners innovative mortgage products from NCBA underscores our commitment to providing homes for all income groups,” added Tatu City Head of Residential Sales Beatrice Njeri.
Mortgage deal
The buy-and-build financing model is available up to 100%, enabling customers to buy a plot and construct simultaneously. Tatu City home and business owners will also have access to facilities such as Nova Pioneer School and Crawford International school. Furthermore, businesses at Tatu City enjoy Special Economic Zone benefits, such as reduced corporate taxes and zero-rated VAT in the city.
This is the second bank with which the property developer has inked a mortgage financing deal for potential customers. In July, it signed an agreement with Absa Bank Kenya to provide customers with similar home ownership financing, including insurance products
