- NCBA Bank and Fanaka Real Estate, a land-buying and selling firm, entered the deal to ease the process of acquiring properties for potential buyers and investors.
- The partnership will provide mortgage loans to both salaried and non-salaried customers of Fanaka Real Estate, with favourable terms that accommodate a wide range of buyers.
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Kenyans seeking to own homes and properties can now have a sigh of relief after two firms signed a deal that seeks to provide financing solutions.
NCBA Bank and Fanaka Real Estate, a land-buying and selling firm, entered the deal to ease the process of acquiring properties for potential buyers and investors.
Speaking after the MoU signing ceremony in Ruiru, Kiambu County, Fanaka Real Estate CEO Moses Muriithi said that some of the products their clients are set to benefit from the collaboration include tailored mortgage financing solutions.
Muriithi noted that under the partnership, NCBA Bank will provide mortgage loans to both salaried and non-salaried customers of Fanaka Real Estate, with favourable terms that accommodate a wide range of buyers.
“This strategic collaboration signifies more than a business transaction—it paves the way for Kenyan citizens to achieve their dreams of homeownership in a more accessible and affordable manner,” Muriithi said.
He quipped that salaried clients can enjoy mortgage repayment plans that stretch up to their retirement age, while non-salaried clients will have repayment options until age 65.
“This flexibility ensures that customers from all walks of life can own property without straining their financial limits,” he said.
The CEO noted that through the partnership, clients and investors will access the buy-and-build financing solution which offers up to 100 percent financing.
He averred that this will allow customers to purchase land and begin construction immediately thereby creating a streamlined process that reduces delays in owning a completed home.
“The union with NCBA Bank enables Fanaka to provide real value by offering comprehensive, flexible financing solutions that make investing in real estate easier and more attractive. Whether it’s first-time buyers or seasoned investors, customers can now access reliable financial support through NCBA’s extensive range of property financing options,” Muriithi said.
NCBA’s Group Director of Retail Banking Tirus Mwithiga reiterated that the partnership complements NCBA’s ongoing affordable housing initiatives, including its home acquisition program that offers a fixed rate of 9.5%, making homeownership more affordable for everyday Kenyans.
“Through this partnership, we aim to deliver an end-to-end customer journey where both property acquisition and financing are seamless, thus improving the overall experience for buyers,” Mwithiga said.
NCBA’s head of Retail Sales Jared Omondi said that the pact contributes to the broader goal of economic growth and stability by making property ownership more accessible.
“Homeownership has long been considered a cornerstone of financial security and wealth-building for families, and by reducing the barriers to land and home ownership, this partnership ensures that more Kenyans can lay the foundation for generational wealth,” Omondi said.
Omondi added:
“We are offering clients a range of financing solutions that address different income levels and life stages, allowing them to own land and build homes in prime locations. This collaboration reflects the belief that homeownership is a key driver of individual prosperity and a crucial pillar for national development.”
At the same time, Muriithi reiterated Fanaka’s mission to make land and home ownership affordable, while ensuring clients benefit from NCBA’s innovative financing solutions.
"This partnership signifies a union between two entities driven by excellence and customer-focused service. Together, we are not just providing loans; we are offering a pathway to homeownership that is achievable, reliable, and tailored to meet the unique needs of our clients," he said.