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National Housing & Construction Company partners with Housing Finance Bank Housing Finance Bank and National Housing & Construction Company have signed a Memorandum of understanding in which Housing Finance Bank will provide mortgage finance for the purchase of housing units located in the Namungoona and Kiwatule Estates worth UGX 55 billion.
The MOU between Housing Finance Bank and National Housing & Construction Company is envisaged to provide Ugandans with accessible and affordable financing and housing solutions.
Under this partnership, HFB will finance customers with loan amounts of up to 90% of the purchase price of the housing units. The loan will be repaid over a period of up to 20 years and there will be no valuation costs. Customers may book apartments with amounts as low as UGX 3,000,000 for Namungoona and UGX 5,000,000 for Kiwatule with purchase prices of 82,000,000/= and 158,000,000 respectively.
Customers must come up with 10% of the total cost of either projects which is 15.8m for Kiwatule and 8.2 million shillings for Namungoona and given application forms and offer letters which they present to Housing Finance Bank which then offers mortgages to customers who qualify according to its repayment terms with an interest rate of 16% for 20 years or 15 years depending on the preference of the client.
Housing Finance Bank has been involved in the provision of mortgage financing in Uganda for over 40 years and was instrumental in financing the purchase of government pool houses, condominium flats in Bugolobi, Wandegeya and Bukoto as well as housing units in the Nalya, Lubowa and Nsambya housing estate among others.
Likewise, National Housing & Construction Company has been in business for 45 years and is the leading real estate developer in Uganda with several projects in Namungoona, Kiwatule, Lubowa, Kyambogo, Bugolobi, Mutundwe and Nalya
Speaking at the signing of the MOU to launch the business partnership the NHCC CEO, Mr. Joseph Kitamirike said the venture between the two institutions will offer opportunities to customers to own an important resource of wealth through the acquisition of quality homes at affordable prices.
“At Housing Finance Bank, we are committed to our mission of enabling people realize their financial dreams through the provision of affordable financial solutions, “says HFB MD Mr. Nicholas Okwir.
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For more information, please contact:
Patrick Matte
Sales & Marketing Manager
National Housing & Construction Company
0414 330107
pmatte@nhcc.co.ug
Beatrice Isagayite
Senior Manager Marketing & PR
Housing Finance Bank
0414 509016
Beatrice@housingfinance.co.ug
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