Diaspora Mortgage Banking

Owning a home back home is possible with KCB mortgage solutions. We have over 120 years’ experience enabling our customers; individuals, small businesses and corporations to go ahead through our unmatched financial solutions.

Our Diaspora mortgage solutions are tailor made allowing you to purchase residential, commercial property and land.

We do not stop at the financing, our team of experts and partners offer advice you may need, and do the legwork to ensure you have a diverse and attractive real estate investment portfolio to choose from.

We do the heavy lifting tasks to enable us offer you the following services;

  • Access to vetted property developers and agents
  • Management of construction projects (at a small fee)
  • Financing in multi-currency (KES, GBP, USD); for purchase of plots, ready built homes, construction of residential and commercial properties and mortgages plus loans (equity release).

We offer you loans with the best and most competitive interest rates in Kenya:

  • KES – 14%
  • USD – 10.5%
  • GBP – 9%
  • Commercial property – 17%

  • 1. How to apply for financing

    To qualify for our diaspora financing, below are the requirements we would like you to fulfill;

    1. Must reside abroad
    2. Have an active KCB Bank account
    3. Pay slips for the last 3 months
    4. Letter from employer confirming employment status (permanent or contract basis).
    5. An international CRB certificate.
    6. Spousal consent – form provided by KCB*

    If single – sworn affidavit*

    1. Bank statements for the last 6 months on your salary account
    2. KRA PIN
    3. Copies of your Kenyan ID and passport*
    4. 2 passport size photos*
    5. Provide a sale agreement witnessed by a lawyer (It is advisable to appoint a power of attorney in Kenya to sign on your behalf). **
    6. Copy of title to property being purchased/charged (Minimum lease term 35 years)*
    7. Valuation report with photographs of property being financed and/or charged together with certificate of official search from Land Registry (this will be carried out after assessing applicant)*
    8. Filled in insurance form (to be provided by KCB)



    * Should be certified as true copies by a Notary Public.

    ** For those earning in USD the sale agreement amount must be quoted in USD


    The next step is to fill in the mortgage application form HERE.

  • 2. Finance limits

    Our financing limits are based on the property being purchased as detailed below;

    • In major towns, namely: Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Thika, Machakos, Kajiado, Kiambu, Nyeri and Meru:
      • Purchase or construction of a residential unit – 80%
      • Purchase or construction of income generating property – 70%
      • Construction of Units for Sale (Real Estate) – 85%
      • Plot Purchase – 60%


    • Other towns and rural areas:
      • Purchase or construction of residential units – 70%
      • Purchase or construction of income generating property – 60%
  • 3. Repayment periods

    Maximum mortgage repayment periods vary depending on the property being purchased;

    • Salaried Individual borrower’s – 15 years
    • Plot purchase – 5 years
    • Commercial property – 20 years
    • Company/Investment Group/Chama in Kenya – 10 years
    • Rental income in Kenya – 15 years
    • Estate development – 36 months
    • Plot purchase – 10 years
  • 4. Other Related Costs/Closing Costs

    Additional costs borne by the applicant in processing the mortgage back home include:

    • Internal costs (payable to KCB)
    Item Fees Remarks
    Ledger Fees KES 350 for KES loansUSD 5 for forex mortgages Maintenance fee levied on the loan account on a monthly basis
    Appraisal Fees 2.5% of loan amount A one off payment (non – refundable)


    • External Costs (payable to approved third parties.)
    Item Fees Remarks
    Valuation Fees First KES 2M at 1%Residue at 0.25%Add: Disbursements and 16% VAT Payable to a valuer in the approved bank’s panel for carrying out a valuation on property.
    Legal Fees 1% – 2% of the loan amount Payable to the approved bank lawyer for legal services.
    Stamp Duty 2%- 4% of cost of property for purchase only. Payable to the Government on transfer of title
    Stamp Duty on charge 0.1% of loan amount Payable to the Government to register the charge
    Insurance: Mortgage Protection Insurance (MPI) 0.42% of loan amount (per person) The premium is paid in full or prorated at the release of funds on a monthly basis and is included in the loan repayment. Hence:·         The benefit of the insurance is that in the event of death of the borrower, the loan outstanding will be paid in full.·         In the event of total disability of the borrower, the loan outstanding will be repaid in full.
    House Owners Comprehensive Insurance (HOCI) + Social Perils Residential 1.25 per 1000 plus 0.05% of the insurance value The premium is paid in full or prorated at the release of funds on a monthly basis and is included in the loan repayment.In case of damage by fire from all causes, earthquake, floods, aerial devices, and Acts of God. The customer will have the comfort that the house will be restored 100% to the condition it was before the damage
    Retrenchment (for employed) KES 1,500.00 p.a. or KES 125.00 In the event of loss of a job due to retrenchment, loan repayments will be made monthly for nine months.Maximum loan repayment on retrenchment is KES 3M. However, a customer will not be eligible for benefits under the scheme, if:-          They accept voluntary retrenchment.-          Their retrenchment is directly or indirectly attributable to injury, a willful or illegal activity.

    –          They become unemployed due to misconduct or unsatisfactory performance.

  • 5. Finance process and timelines

    Our mortgage process is detailed as below and may take up to 6 months or more to complete:

    Stage Process No. of Days Description
    1 Preliminary Appraisal 1 The applicant submits all the general requirements and completes a mortgage application form
    2 Instructions of Valuer 7 The applicant selects a valuer from provided list of valuers by the Bank. The bank issues instructions to the valuer to carry out a valuation report.At this point the applicant will be required to pay valuation fees.
    3 Approval process 4-7 After KCB receives a favourable valuation report, the loan is processed and formal approval/offer letter is issued to the applicant. The offer letter is in triplicate. The process takes 4-7 days.
    4 Acceptance of Letter of offer 30 The applicant has 30 days to accept and return the 3 copies of the offer letter for execution by banks power of attorney. At this point the applicant will be required to pay the appraisal fees and initial insurance premiums for mortgage protection insurance and house owner’s comprehensive insurance.
    5 Conveyancing process 1-60 After applicant’s acceptance, KCB issues instructions to the appointed bank lawyers to begin conveyancing of perfection of security documentation.At the point the applicant will pay the stamp duty, stamp duty on charge and lawyer’s fees.NB: It is the responsibility of the borrower to follow up with the conveyancing process, we shall give you the lawyers contacts to enable you do this.
    6 Release / Disbursement Process 14 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
    Loan Repayment after 30 days The loan is repayable 30 days after release of funds.A letter advising the customer of the mortgage account number, monthly installments and due date is issued.

Apply now

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