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Loise N. Karanja| Co-operative Bank of Kenya Ltd.

Dear Esteemed Customer,
I trust you are keeping well and safe.
Please allow me to share below information.

We offer mortgages to diaspora customers both for property purchase (houses/apartments and land) as well as construction mortgage on residential property as well as commercial properties.
We finance up to 80% (KES xxx)of the property/ construction costs for a period of 10 years. On your end, you will thus raise 20%(Kes xxx) as a down payment and also cater for the additional costs that will be incurred in the transaction. i.e. Stamp duty, legal fees, valuation fees, commitment fees to the Bank and insurances for the mortgage. The current interest rates is 13%.

With the proposed mortgage, however, also note that you could pay it off within a shorter period with no penalties whatsoever.

To start off the transaction, we would recommend to handle it systematically as follows;

Step 1: The Bank to appraise you for a mortgage facility based on your current income abroad. This will be in about 7 days of receipt of the application documents in full. Approval of this mortgage will come with a letter of offer for the mortgage which will have some conditions to be met. i.e. availability of 20% of construction costs that is the customer’s contribution.

Step 2: You will be required to meet the conditions of offer, some of which are outlined in step 1 above. These conditions and acceptance of the offer for the mortgage should be done in 14 days.

Step 3: With the offer accepted and conditions met, the Bank will instruct a lawyer (on the Bank’s panel) to commence the legal process which will entail charging of the property to the Bank as collateral for the loan.

Noting the external stakeholders involved at this stage, this could take up to 90 days to be completed.

To commence this transaction, kindly share with us the following documents;

Latest 3 months pay stubs,
Latest 6 months Bank statements,
Account details with co-operative bank
U.S.A Passport -If applicable
Residence card- If applicable
KRA pin
Kenyan ID/Passport
Copy of title
Employment letters
Reference letter from employer
Utility bill
Complete loan application forms

*Please see attached documents.

Please have all your personal documents notarized. Notarization/certification of the documents can be done at;
The Notary Public
The Kenyan Embassy
Commissioner of oaths
Your Bank abroad
Your Employer

For the initial appraisal, please share with us your 3 months pay stubs and 6 months bank statements. Upon receipt of these documents and assessment of the income, we shall ask you to share with us the notarized documents and the filled up mortgage application form.

Please do not hesitate to contact me on the below contacts in case of any further clarification.

Looking forward to hearing from you.

Loise N. Karanja| Co-operative Bank of Kenya Ltd.
Relationship Manager| Diaspora Banking & Remittance
Ground Floor, Co-op House, Haile Selassie Avenue
P.O Box 48321-01000, Nairobi, Kenya
Office Line: 0711049943
Mobile: +254723584725