Identifying the right kind of house is never easy when you are looking to take up mortgage. This is because your mortgage should essentially represent the value of the house you’ll be paying for. However, unlike previous years when this struggle was the order of the day, a home buyer today does not have to move from one property shop to the other searching for good mortgage houses. He can just log into the Good Home Mortgages Property Hub.
Good Home Mortgages is the arm of Co-operative Bank that provides affordable mortgages with various features that are tailored to suit individual and corporate needs as well as make loan repayments more comfortable.
In this hub, clients can access bank-approved properties for residential and commercial use. This is a one-stop-shop that will serve the twin purpose of giving developers financed by the bank a ready market for their properties, while at the same time giving buyers a wide range of properties to choose from.
In repaying the loan, home owners have the option of taking fixed or variable interest rates. Additionally, owners who are already members of the Co-operative Bank Sacco Society will enjoy reduced rates based on the form of interest rates they opt for.
Customers who take up the loan are allowed to increase their monthly installments if their financial position improves to enable them repay the home loan faster. They will also be given an evaluation report to enable them make a better decision on which home to take or avoid.
CLICK HERE TO APPLY AND SEE APPROVED HOMES ON OFFER!
Customers can access property solutions at both the physical office located at KUSCCO Center, Upperhill, and virtually through goodhome.co.ke. The Good Home hub also provides access to financing through the GoodHome Mortgage which is available in all major currencies to Kenyan Individuals, SMEs, Corporate companies, and Co-operatives including those in the Diaspora.
The Good Home Mortgage from Co-op Bank offers:
- A maximum of 95% of the mortgage value, hence you only need to have a minimum of 5% of the amount if your property is for owner occupation.
- We consider a maximum of 50% of your income as what can be applied to repay the facility.
- Costs associated with the process will amount to about 7% of the selling price.
- A clean title, free from encumbrances and where all land rates and rent are cleared.
- For Co-operative societies, requirements depend on the product chosen and the borrowing power limits.
- An account with Co-operative Bank to allow you easier access to the Good Home Mortgages.
