NMB offers immense housing opportunities

NMB Bank has organised two-day ‘Nyumba Day’ exhibitions, which will offer immense opportunities to various stakeholders in the housing sector.

The Bank’s Business Head of Retail, Mr Abdulmajid Nsekela said in Dar e Salaam yesterday, that Nyumba Day event is bringing together housing developers, real estate agents, and building material agents who are currently partnering with NMB in mortgage loans.

“The event is the bank’s initiative to bring all local property developers and building material suppliers under one roof and introduce them to our potential customers,” he said. The NMB mortgage loan is payable in a friendly reducing balance basis in predictable equal monthly installment from a minimum amount of 10m/ to a maximum of 700m/-.

He said with NMB’s mortgage loan facility, the bank will finance up to 90 per cent of the value of the property, and this means that the client will be required to deposit only 10 per cent of the property value.

“Now that we have brought these housing developers, real estate agents and building agents, we simplify the process of customers and the general public with dreams to own their homes,” he added.

With NMB Bank’s mortgage loan facility, customers have choices to choose among the three options, which are purchasing for customers buying houses, refinancing for those owning titled property and would like to get a cash release from their property to invest in other activities, and semi-finished loan for customers in need to finance their houses from linter stage.

The new mortgage proportion offers more attractive terms to borrowers, including a 15 years repayment period and competitive interest of 17 per cent. Building in the country belongs to individuals executing it through savings but have not been helpful in achieving something viable.

Thus with NMB mortgage loan facility, customers can get the entire sum needed to build a dream home.