Commercial Mortgage

What We Need From You*

• A current feasibility study confirming project viability.
• Evidence for availability of end buyers of the units to be developed ( min 30% confirmed sales).
• Evidence of developer’s ability to raise own contribution upfront. (Own contribution is ≥30% of the cost excluding land).
• Copies of title documents to the plot (s) to be developed.
• Architectural building and structural plans duly approved by the relevant local authority/Kigali One stop Centre.
• Priced Bills of Quantities duly signed.
• Regulatory approvals for the development including EIA (where applicable /any exemptions).
• Evidence of availability of existing sources of income to service interest during the construction / grace period or the entire facility ( if company provide, audited financial statements for last three years , cash flow projection for the next three years , business profiles, account statements for last twelve months, certificate of incorporation , memorandum and articles of association, TIN certificate, RRA clearance certificate………..).
• Briefs on the project technical management teams (indicating their qualifications and experience, CVs, and qualification papers). Professional competence to be evidenced by a list of major projects completed within the last 5 to 10 years.
• An executed formal contract between the Developer and the Contractor indicating the estimated completion time and how cost overruns will be treated.
• Submission of a performance bond from a reputable bank or insurance firm for 10% of the contract value.
• Projected valuation report carried out by a Valuer recommended by BPR Bank disclosing.

Rates & Fees*

Purchase
• Max. TENOR, 120 Months.
• Interest rate, Tier 1: BPR Rwanda Base rate +0.5%, Tier 2:Base rate + 1%.
• Facility fees (Once off), 2%.
• Management fee, 0.1% per Month.
• Loan Amount, No Limit (Repayment Capacity).

Construction
• Max. TENOR, 120 Months.
• Interest rate, Tie1: BPR Rwanda Base rate +1.5%, Tier 2:Base rate + 2%.
• Facility fees (Once off), 2%.
• Management fee, 0.1% per Month.
• Loan Amount, No Limit (Repayment Capacity.

*Rates are subject to change.*