Peter Muema’s two storey home is the dream of many. A while back, it had not occurred to him that he could own such a home. This is why when Muema couldn’t help himself from hosting a house warming celebration when he moved into the home that sits on a  1/4 acre land in the outskirts of Rongai town earlier this year.

“I always knew that I wanted to live in my own place. It is the ultimate goal of every man to put a roof under his family. But I never envisioned such a project,” he says.

For a start, the project would required heavy capital investment, especially to go a long with the type of finishing that was stipulated by the designer. Although Muema holds a job that pays well and also runs a profitable agribusiness venture in Emali, he was not sure he could be able to find the required capital.

“I started construction works with my savings. My plan was to build on an incremental basis where I would start with the foundation, then walling, then the slab for the second storey structure,” says Muema who is 41.

After paying of and signing all the required legal papers, he hired an architect for the house plan, a site manager, and a group of hardworking young men to set up a site house.

The soil yielded to the men’s efforts, and they soon began laying the foundation. However, costs started mounting faster than Peter had anticipated, giving him a harsh reality check on his finances.

Inflation rates had soared, driving up the cost of construction materials. Little by little, his construction fund dwindled. He started taking materials on credit and delaying workers’ dues. His wife Agnes recalled how she she sat him down one evening for a potential solution.

“He was stressed up. His capital and investment was stuck on this project and the way things were going, he would have to take a long pause, which bothered him as this meant that his capital was turning into the infamous dead capital,” she says.

Agnes says that she nudged him to consider looking at building financing as a form of help. “I told him it wouldn’t belittle his efforts if he asked for help. And who better to help him that his banker,” she says.

How I built my Sh. 6 million Machakos mansion in 8 months

Muema arranged for a coffee meeting with one of his banker friends. “My plan was to listen and gauge from a far if it would be possible to get financing at affordable rates before making a formal pitch. The last thing I would have wanted was to apply for financing and then get rejected,” he says.

His banker friend took him through the building loans and mortgage rates and application procedures at the NCBA Bank where he worked. “I was surprised at how much I didn’t know about home ownership financing. My friend was so kind that he connected me with Janet Njeri, a mortgage advisor at the NCBA,” says Muema.

He wasted no time. He submitted his financing application, and to his relief, it was swiftly approved. With the influx of funds, construction resumed at full speed. Within six months, a masterpiece stood majestically at the quarter acre plot that looked barren a couple of moons earlier. “I get so emotional and astounded when I look at this. I want to be pinched to make sure it is not a dream,” he says about his beautiful house.

“I built on my own and this helped me keep my costs down. I used around Sh. 7 million on the project. The financial aid from the bank saved the day as it would have taken much longer to accomplish the project,” he says.

To better understand how he pulled it off, Bizna Kenya took an inside look a the NCBA home ownership financing package.

“NCBA Easy Build is our property financing solution that enables you to have access to building plans and full professional services so that you can build your house without stress,” NCBA told Bizna Kenya.

“We have a pool of construction consultants comprising architects, quantity surveyors, structural, mechanical and electrical engineers who will supervise your construction process end to end.” The bank also has the mortgages option.

A look at NCBA Mortgages

In an interview, former Head of Property Finance at NCBA Bank PLC, Stella Mutai shared that there are a variety of mortgage products offered to cater to customer needs. They include:

• Home Loans
• Equity Release
• Own Your Own Home
• Construction loan to build a home or property
• Plot purchase loan
• A combination of plot and construction is known as ‘buy and build’.

To start your mortgage application with NCBA, visit one of their branches and chat with a Relationship Manager about your income details.

The bank will review your application and suggest a loan amount based on your financial situation, ensuring it’s manageable for you. Repayments are influenced by factors like the loan amount, term and age.

You can choose a repayment period ranging from 1 to 25 years, with the maximum loan term being 25 years.