How To Apply For NIC Bank Mortgages. Requirements


Choosing the right mortgage plan is a top priority when beginning the journey to home ownership. The option you choose should fit your unique needs and preferences. At NIC they have a dedicated team of Mortgage specialists to walk with you through the journey towards securing your dream home.

You can choose to buy apartment or  bungalow depending on your financial status.

NIC Mortgage offers you a variety of options:

  • Equity Release – Financing against your already existing house
  • Purchase Financing – Loan that funds to buy a readymade house
  • Top-Up – Increase in value of your existing mortgage due to reduction of loan amount or appreciation of property value
  • Balance Transfer/Refinance -Transfer of an existing mortgage from one financier to another
  • Construction Finance – Loan that funds the building of a residential home or residence
  • Plot Purchase – Financing to buy vacant land


  • Up to 90% financing for Kenyan residents and 70% financing for Kenyans in the diaspora
  • Mortgage Protection Insurance (MPI) cover that takes care of retrenchment, death and disability and social perils cover included
  • Competitive Interest rates
  • Flexible repayment periods of up to 20 years
  • No penalty for early repayment
  • Available to both Kenyan citizens and non-Kenyan permanent residents
  • We arrange for valuation and legal processes by bank-appointed service providers
  • Joint applications allowed
  • Minimum amount of KES 1 million. Maximum amount is based on your ability to repay.
  • Interest is charged on a reducing balance basis


  • A completed and signed Mortgage application form
  • Your Original ID/Passport (plus copies)
  • 6 months certified bank statement
  • 3 months pay slips
  • Sale agreement or letter of offer( for purchase mortgage only)
  • Letter of introduction from employer
  • Cost associated with Mortgage


  • Arrangement fee
  • Legal Fee
  • Valuation fee
  • Stamp duty on Transfer
  • Stamp duty on Charge
  • Insurance






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