A mortgage is a long term loan secured on property. In Uganda, banks and housing finance institutions offer mortgages to buy, build or complete homes.
How it works
You pay a deposit, the lender finances the rest, and you repay monthly over a term that can run up to 20 years. The property is security until the loan is repaid.
Eligibility
- Stable income: salary or proven business income
- Good credit history
- Age and term limits
- Affordability: monthly repayment within a share of your income
Documents
ID, payslips or financial statements, bank statements, land title of the property, valuation report and sale agreement.
Costs beyond the deposit
Valuation, legal fees, stamp duty, mortgage registration, insurance and bank fees.
Tips
- Compare rates: fixed vs variable
- Check penalties for early repayment
- Verify the land title before committing
This is general information, not financial advice. Compare products and speak to a licensed adviser.
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