Title deed loans are designed for clients who own properties and hold the original title deeds for those properties. Clients can use their title deeds as collateral to secure a loan from Tamika Credit.
Our Title Deed Loans are flexible and affordable, with repayment terms that are tailored to the client’s financial situation and needs. Clients can choose to repay their loan in monthly installments over a period of up to 36 months. We offer competitive interest rates on our Title Deed Loans to ensure that our clients can access the financial assistance they need at an affordable cost.
One of the key benefits of our Title Deed Loans is that clients can continue to use and occupy their property even while the loan is being repaid. This means that they can maintain their daily routines and continue to earn a livelihood without any disruptions. In addition, our Title Deed Loans are available to clients with a wide range of credit scores, making them accessible to a broader range of individuals who may have difficulty accessing loans from traditional financial institutions.
At Tamika Credit, we understand that owning a property is a significant investment and that clients may need financial assistance to unlock the full potential of that investment. Our Title Deed Loans are designed to help clients access the funds they need to grow and develop their properties, start or expand their businesses, or achieve other financial goals. We are committed to providing our clients with high-quality financial solutions that are tailored to their unique needs and circumstances.
Title Deed Loan Requirements
- Postdated cheques
- Original title deed (strictly should bear the name of the borrower)
- A copy of the KRA pin
- A Copy of the original ID
- 12 months M-PESA statement and bank statement
- A Copy of the id of the next of kin
- Passport photo size
- Land visit and Google map attached
- Official search
- Charge documents to be signed (as outlined below)
Benefits of our Title Deed Loans
- Affordable Interest Rates
- We offer interest waiver if you offset earlier
- No hidden charges
Title Deed Loan Processing Period
- Minimum duration 3 months
- Maximum 24 months
Title Deed Loan Interest Rate
- Interest rates 5 % P.M
- Processing fees of 5% on the principle
- An upfront payment fee of 40,000-60,000
The upfront payment fee of KES 40,000 KES 60,000 covers essential processes such as property search, valuation, and the legal charging of the land. This fee is crucial for conducting a thorough search to verify the property’s ownership and ensure its eligibility for collateral.
Additionally, a professional valuation is carried out to assess the market value of the property. Lastly, the legal charging of the land establishes the lender’s security interest in the property, providing assurance for both the borrower and the lender.
The fee contributes to these important steps in the loan process, ensuring the validity and security of the Title Deed Loan.
