Required documents when submitting the application( client - wife - sponser - partner):
- Copy of Civil ID.
- Copy of passport.
- New Salary certificate (other documents if there is another income other than the salary)
- Credit Bank letter of commitment.
- Marriage certificate (if the wife is a partner therein).
Required documents when approving the application:
- Open current account at KFH (personal account incase of partner presence).
- Salary transfer to KFH.
- Permanent salary transfer letter from employer.
- Acknowledgment letter from sponsor signed at the Ministry of Justice confirming the settlement of due amounts if the customer is unable to pay.
- Sponsor availability meeting the conditions.
Property Owner details (seller):
- Copy of Civil ID.
- Copy of ownership certificate.
- Property location.
Note: If the customer requests to register the property by his name and mortgage it to the Saving and Credit bank:
If the property is open space, he should get a letter from the specified bank approving the property transfer and setting the mortgage procedures.
If the property is home, he needs to get a promissory note from the bank to transfer the loan amount to KFH.
Local Real Estate Department Services at Baytak
The Local Real Estate Department at Baytak has a deep-rooted history of almost twenty years of experience and know-how that enable it to offer distinguished real estate services to its customers. The Department exerts its utmost efforts to provide the best services to the customers at the earliest possible, encourage the local construction and the real estate investments, contribute to the development of the construction boom in the State of Kuwait, fulfill the young people’s dream of finding the appropriate residence at record prices and adopt flexible and profitable methods to satisfy the customers and participate therewith to make a better future for everyone.
The Department offers a bunch of real estate services and products as it deals with all the types of realties including lands, residential, investment and commercial real estate properties and public utilities like industrial and agricultural plots and chalets.
Cash real estate sale:
This product is offered to the customers who wish to buy a real estate property and resort to the experience of Baytak in the field of sale, purchase and assessment of real estate properties, in addition to the consultations offered to the customers to help them take the decision necessary for the proper purchase and the cash payment.
Product advantages:
- To complete the transactions in a record period of time.
- To benefit from Baytak real estate experience and assistance in choosing the best realties and investments to take the purchase decision.
- To fulfill the customers’ needs from the bunch of real estate properties available at Baytak.
Real estate sale by installments:
This service is offered to the customers who may not have the necessary liquidity to buy the real estate properties and therefore, the Real Estate Department at Baytak sells them some of Baytak realties in a satisfactory manner by installments in such a way that the customer pays part of the real estate price in cash and the remainder by installments according to the contract concluded therewith (monthly installments) or annual, biannual and quarter payments.
Product advantages:
- To design a financing program that suits the customer’s monthly income by giving him a grace period of two months a year.
- To help in choosing the real estate property and offer the real estate advice by assessing the realty according to the market price according to the experience of Baytak that guides the customer in a series of procedures of purchase, sale and authentication.
- Long settlement periods that reach 15 years.
- A grace period that varies between 3-6 months at the beginning of the deal (according to the controls).
- To enable the customer to choose any real estate property from the bunch of real estate properties available at Baytak in the various areas at appropriate prices in a way that suits the customer’s financial capability.
- Easy dealing with the Credit & Saving Bank, as well as the procedures relating to the Municipality and the Ministry of Justice.
Real estate morabaha
When the real estate property required by the customer is not available at Baytak, the Local Real Estate Department may buy a real estate property from the market that the customer promises to buy and after it is owned by Baytak, the customer buys it at a price agreed upon and settles part of the amount while the remainder is settled in a specific period agreed upon.
Product advantages:
- To deal with all types of real estate properties including lands, plots, investment and commercial buildings and public utilities like industrial and agricultural plots in addition to the chalets and otherwise.
- To benefit from Baytak experience in the field of fair assessment of the real estate property and offering the real estate advice to the customers.
- Long-term installments that reach 15 years.
- A grace period that varies from 3-6 months upon the beginning of the deal (according to the controls).
- Convenient and flexible installments that suit the customer’s income and requirements.
- Easy dealing with the Credit & Saving Bank, as well as the procedures relating to the Municipality and the Ministry of Justice.
- Adequate competitive profits until the expiry of the contract.
- Grace period of two months every year (one year of ten months system).
- Offers and advantages in certain seasons.
Conditions of acquiring the financing products:
To acquire one of our financing products including the sale by installments, morabaha, lease or external realties, the following conditions shall be fulfilled:
- The financing amount depends on the customer’s monthly income with the wife if she participates to the same.
- The salary shall be transferred to Baytak.
- The customer shall pay an advance payment of the amount of the real estate property required to be purchased or leased.
- Statement on the work period and the service termination (for the expatriates).
Papers required to acquire the product:
- Certificate of validity of the salary of the customer and the partner if any, as well as the sponsor if any.
- The Civil Card and nationality of the customer, sponsor and partner is any.
- Any other documents in case there is an income other than the salary.
- The presence of a sponsor who fulfills the conditions (according to the controls).
- The marriage contract in case of addition of the wife’s salary.
- Photocopy of the passport.
Real estate owner’s particulars:
- Photocopy of the Civil Card, nationality, document.
- Plan of the area.
Locations of Services
- FAIHA
- FAHED AL-AHMAD
- ANDALUS
- KHEITAN
- KUWAIT CAPITAL HEAD OFFICE
- KUWAIT CAPITAL MAKKI JOMAA TOWER