Mortgage KenyaWhich Bank Do You Choose!Mortgage Kenya finally!! I was walking in town one day when I saw a big bill board poster advertising up to 100% mortgage finance. With a lot of excitement I went to the said bank to ask for the rates and procedures of getting the mortgage and other modalities. 
I then called my dad to tell him that I can finally afford to get a mortgage in Kenya. To my shock, horror and total disbelief, my dad told me that I should not even think or even entertain the idea of a loan from such a bank. Why?
That was my next question. In no uncertain words he said that 100% mortgage kenya finance from a non-traditional bank is not advisable as the terms that they offer that money will never be satisfactory. He told me of his experience when he took a bank loan from a similar bank and they charged him much more than what was agreed on paper. He then advised me to go for the level headed traditional banks that may be slower in processing applications and require a much heftier, almost non-achievable deposit but in the long run their terms are easier to deal with. The moral of the story is that what seems like gold or even glitters like gold is not always gold.The truth is, mortgages in Kenya are no longer hard to find like before, but this also calls for more prior research before signing any documents. You don’t need to follow my dad’s advice (though I followed it, hey – its dad we are talking about here) but make sure you know what you are going into. For more information on mortgages in Kenya, check these banks websites (in no particular order);
Essentially, these banks only want to see that you can repay your mortgage. They will ask for your identification documents (ID or passport), previous bank statements (where you are currently banking) and also utility bills. The trick here (whichever bank you opt for ) is to remember that you need to consider the actual cost of the loan. Remember getting a mortgage in Kenya will attract other charges such as legal fees and insurance. You need to make sure that you are aware of these costs as well as that of running the account too. Return From Mortgage Kenya Page to Kenya Real Estate Page
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