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Construction, purchase, extension or improvement of residential & commercial residential properties, and purchase of plots in urban areas within Kampala and its suburbs.
To be sure that your mortgage is affordable, the amount we lend you must have a monthly repayment amount not exceeding 35% of your ascertainable monthly income. Where your regular income is not sufficient, additional security may be required.
The Company will confirm stated income with your employer.
The self-employed will be required to submit audited accounts for the last two financial years together with business particulars e.g. Memorandum and Articles of Association, Certificate of Incorporation, and Company Returns.
The property must have a valid land title and building plans with local authority approval. Construction must be in permanent materials and the building serviced/to be serviced with water and electricity.
Currently, minimum of Ug Shs. 5million property, depending on the property location and value. The loan available will not exceed 70% for construction of residential units in Kampala, 80% for purchase of property within Kampala, 60% for an urban plot loan this shouldn’t exceed 80 million,60% for equity release loans of the property value as given by our valuer and Maximum 30 million shs for Growing house.
Not exceeding 20 years for residential units, and commercial residential properties and 5 years for urban plots and 10 yrs for growing house & equity release.10 years for dollar loans.
Variable according to prevailing economic conditions.
On application, you pay a non-refundable application fee of 0.25% of Loan amount applied but minimum is 200,000/=
Title search fee: – 50,000/= and Opening of boundaries: – 200,000/=.
Valuation and inspection fees will be as follows on submission of the application form: 400,000/= for properties whose value is below 500million, 800,000/= for properties whose value exceeds 500m but less than 1billion and 0. 1% of value for properties whose value is beyond 1 billion.
Facility fee – 1.25% of loan amount
You will also meet the costs of preparing and registering the mortgage e.g. stamp duty 1% on market value on transfer for property purchase and 0.5% stamp duty on mortgage and External laywers fees 413,000/=
We take a first legal mortgage on the financed property. We also insure the property against fire and other forms of damage at your cost.
Through equal monthly installments you repay the amount originally borrowed plus interest and insurance premium. In case of property purchase, the first repayment falls due on the first month following disbursement date. For properties in course of construction, the first repayment falls on the first day of the month following the expiry of eight months construction period commencing on the date of the first advance.
Note: These are general guidelines and are subject to change depending on the prevailing conditions. We are ready to discuss your needs on an individual basis.
For persons self-employed:
For Ugandans working and living in the diaspora the following documents must be notarised:
Vendor or sellers’ requirements;
Note: Please note that for purchase cases we don’t accept powers of attorney from vendors. And at the time of disbursing funds, the funds will be disbursed to the Vendors account.
For further information, contact us or call +256 414 259651 or +256 414 259652.
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© 2022 Housing Finance Bank. Investment House, 4 Wampewo Avenue, Kololo. Housing Finance Bank is regulated by Bank of Uganda. Customer deposits are protected by the Deposit Protection Fund of Uganda up to UGX 10 million. Terms and Conditions apply.