BOA Mortgage Facility
BOA aims to offer you a comprehensive mortgage finance solution. This focuses on providing personal and specialized services to meet our clients’ specific needs. We intend to achieve this by enabling our clients buy, build or improve their own properties.
Mortgage Products Offered:
1) Owner occupier loans: Buying new or existing residential houses in Estates or single developments
2) Residential Investment loans: Buying commercial residential properties including block of flats and maisonettes but excluding office blocks.
3) Equity Release/Home improvements: Further Advances for existing borrowers who have conducted their accounts satisfactorily for the last three years or to prospective borrowers holding clean title of residential property in a city, town or municipal centre.
4) Mortgage purchase: The Company will consider taking over performing loans from other financiers subject to proof of good performance record.
5) Construction for owner Occupation; BOA Kenya will finance constructions subject to provision of approved Architectural Drawings. Disbursement will be on reimbursement basis against certificates.
6) Plot Loan to Build: This is a product that is intended to provide financing to clients who want to buy a property to develop a residential house on the plot. These loans must be fully repaid within 5 years
Requirements:
- A duly completed and signed loan application form.
- A sale agreement/offer letter.
- Copy Identity such as identification card or passport and Registration documents for a business.
- Proof of income i.e. pay slips.
- Bank statements for the last six months.
- Copy of the title for the property offered as collateral.
- A valuation report from a valuer in the banks panel (can also be availed after approval).
- Letter of introduction and undertaking from employer for employed persons.
- Open a current account.
Benefits:
- Own occupation
- Tax benefit through Mortgage relief
- Financial advice on Mortgage Products
- Personalized Customer Service
- Flexible terms of repayment
- Savings on rent
- Capital gains from property appreciation
Opening an Account
Click below to:
Print Account Opening Forms
Locate the nearest Bank of Africa branch
Send an e-mail to obtain further information