Mortgage Financing


A mortgage is a loan taken out to buy a house with the house acting as the collateral. Kagen Properties & Investments recognizes the difficulties facing home buyers when it comes to financing the purchase of a home. With our rich experience in mortgage lending through several years working experience in different banks’ mortgages departments, our staff are able to see the mortgages sector from the client’s perspective and provide the neccesary assistance. We take care of arranging finance for Developers, Industries & Individuals through our tie-ups with Banks and Investors.

We search for the best mortgage deals in the market for clients willing to purchase/construct houses using loans. We also obtain all the necessary details and advise our clients on the required procedures for them to qualify hence making mortgage financing easy for our clients. We are their personal financial adviser hence we assist them in all aspects of the financing of their home. Our services related to financing include:

  • Collecting of documents from our customers and assisting them in determining their ability to repay the mortgage.
  • Comparing the cost of various financing solutions for the purchase/construction of a selected property and ensuring that our customers get the mortgage with the best terms.
  • Assisting is selecting the most cost effective mortgage solution and facilitating the mortgage application process while fast tracking the process
  • Negotiating of the mortgage closing costs on behalf of the clients.

For this process, we charge a small fee of Kes. 15,000 to cover the administrative costs

The Mortgage Process

The applicant submits all the general requirements to Kagen Properties & Investments and completes a mortgage application form. The requirements for employed and Company applicants include, but not limited to, the following;

Employed applicants

  • 3 copies of your current pay slip/ proof of income
  • A copy of your ID and two (2) passport photos
  • Copy of your Kenya Revenue Authority PIN certificate
  • Certified copies of 6 or 12 months (depending on the financier) bank statements
  • Letter from employer Confirming – Position* Length of service* Retirement age* Income*Employment terms, (permanent or contract)
  • Copy of Title for the property offered as security
  • Offer letter/Sale agreement if available

Company/self employed applicants

  • 2 years audited financials (limited Companies) and management accounts where applicable
  • Certified copies of 12 months bank statements
  • Memo & Articles (limited Companies)
  • Registration Certificate/ Incorporation Certificate
  • A copy of your identity document /passport
  • Copy of your Kenya Revenue Authority PIN certificate
  • Business PIN (limited Companies)
  • Copy of Title if available
  • Sale agreement if available

After analyzing the documents provided and due diligence on the applicant done, the application is then submitted to the respective financier and the loan is processed and formal approval/offer letter duly executed by Banks Power of is issued to the applicant.

The applicant has 30 days to accept and return the offer letter for onward submission to the financier after meeting all the conditions stipulated in the offer letter. Also, at this stage, the bank issues instructions to the Bank valuer to carry out a valuation report and the applicant will be required to pay valuation fees. Kagen Properties & Investments will assist the applicant to select a valuer and negotiate on the fees to be charged.

After applicant’s acceptance, the Bank issues instructions to the appointed Bank lawyers to begin conveyance or perfection of security documentation. At this point the applicant will pay the stamp duty, stamp duty on charge and legal fees.

The funds will be released to the beneficiary within 14 days of receiving the security documents duly perfected. At this point the applicant will be required to: –

  • Have met all drawdown conditions on the offer letter
  • Clear the lawyers legal fees
  • Pay the initial insurance premiums i.e. mortgage protection insurance, house owners comprehensive insurance and retrenchment cover

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