Construction Mortgage Finance

CONSTRUCTION MORGAGE FINANCE
In addition to terms applicable to mortgage finance, the requirements below would apply for construction facilities

  1. 3 months’ pay slips (pay stubs)
  2. 6 month bank statements- where salary is paid
  3. Letter of introduction from employer- stating income, retirement age and terms of service
  4. Copy of employment contract
  5. Copy of passport (if expired, page of renewal must be provided)
  6. Copy of KRA pin/tax number
  7. Copy of work permit/residency permit e.g. Green card- U.S or Indefinite leave- U.K
  8. Property details: Letter of offer, draft sale agreement or sale agreement & copy of title (Minimum lease term 45 Years)
  9. Approved plans from relevant local authority (should not be more than 2 years old)
  10. Bill of Quantities from registered quantity surveyor
  11. Contractor appointment- ( Fixed Contract) with a registered contractor
  12. CVs/profiles of the design team i.e. Architects, Quantity Surveyor, Engineers, contractor
  13. Evidence of project equity contribution – i.e. the customer portion of construction costs should be evidence by cash held, material on site or amount already spent on project

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