Centum Real Estate (Centum RE) and I&M Bank have entered and solidified a partnership through the signing of a Memorandum of Understanding (MOU), aiming to streamline the home purchasing process for Centum RE customers.
The signing ceremony was held at Centum RE’s offices at their iconic Two Rivers Mall and was led by Centum RE Managing Director Kenneth Mbae and I&M Bank Kenya CEO Gul Khan.
Signing Ceremony at Two Rivers Mall
The signing ceremony took place at Centum RE’s offices located at the iconic Two Rivers Mall.
The event was led by Centum RE Managing Director Kenneth Mbae and I&M Bank Kenya CEO Gul Khan.
Empowering Potential Homeowners
This collaboration is set to empower potential homeowners by providing enhanced access to mortgage financing solutions.
Under the terms of the agreement, I&M Bank will extend its support to Centum’s Diaspora clientele, assisting them in mortgage applications and facilitating equity release arrangements for home purchases.
The financing arrangement allows for up to 90% financing for Kenya Shilling mortgages and up to 80% for U.S Dollar mortgages.
The Kenyan Shilling loan facilities feature a notably attractive minimum interest rate of 16.66% per annum.
Mutually Beneficial Partnerships with Multiple Banks
Kenneth Mbae of Centum RE highlights the mutually beneficial nature of partnerships with multiple banks. These partnerships create avenues for both diaspora and local clients to acquire properties at pre-negotiated mortgage rates.
He emphasizes that partnering with I&M Bank will streamline home buying for diaspora clients, who prioritize verifying property quality and value.
Excitement surrounds the collaboration with I&M Bank. It goes beyond transactions to enhance the customer experience.
This synergy not only simplifies the home purchase process but also signifies commitment to delivering exceptional service and value in every step of the journey with Centum Real Estate, according to Mr. Kenneth.
I&M Bank’s Perspective
I&M Bank’s CEO, Gul Khan, stressed the partnership’s importance in fulfilling the lender’s brand promise “On Your Side.”
He asserted that Centum Real Estate aligns well with I&M Bank, not only due to their industry leadership but also because their residential developments provide choices for a broad customer base, encompassing up-market, mid-market, and affordable housing seekers.
I&M Bank is committed to guiding all these clients on their journey to home ownership.
Enthusiasm for Innovative Mortgage Solutions
Martin Muchemi, Head of Mortgage at I&M Bank, is enthusiastic about the partnership. He highlights the commitment of both entities to delivering innovative mortgage solutions.
He states, “This collaborative effort signifies our dedication to transforming homeownership dreams into reality.
It also reaffirms our commitment to providing tailored services to our valued clients at home and abroad.”
I&M Bank offers a robust Mortgage Financing solution. It caters to diverse needs like property purchase, undeveloped plots, construction, and renovations.
The solution provides various products addressing customers’ requirements in terms of loan amount, purpose, and repayment flexibility.
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