This a short term loan facility for incremental home building and improvements. Our incremental housing loan product comes with the following features:
- Provision of funding for the incremental home building needs including; house purchase, land purchase, incremental home construction, home improvements, solar installations etc.
- Loan amount from UGX 200,000 to UGX 30M
- Loan duration of up to 3 years
- Flexible loan repayment period of either monthly or quarterly based on the customer’s income cycle.
- Housing Support Services in form of general building information, home building best practices, utility connection process etc. will be provided
- Flexible credit for incremental building needs
- Flexible nature of securities acceptable to the bank.
- Flexible repayment period based on customers’ income cycle.
- Basic housing support services provided by the Bank.
Basic requirements include:
- Valid Identification
- CRB financial card
- Proof of reliable source of income
- Security in form of land title, sales agreements, machinery and chattels
- In case of construction; a house plan for titled land and development fee receipts for kabaka’s land
- For kibanja agreements, registration with BLB will be required
- For construction/ home improvements; BOQs (not necessarily by a professional) will be required where necessary
- Suitable guarantor who holds an account and is credit worth
- In case of informal land leases, security must be owned by the borrower with a minimum tenor not less than the loan term