Uhuru launches mortgage company for cheap homes

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HOME BUYERS JOY!! UHURU LAUNCHES KENYA MORTGAGE REFINANCING COMPANY THAT AIDS HOME BUYERS TO GET CAS. William Ruto allies Plan to Impeach Fred Matiangi Over Uhuru and Raila Odinga – Duration:.

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President Uhuru Kenyatta acknowledges greetings from construction workers at Park Road Estate in Ngara. A financial institution with a seed capital of Sh35 billion has been launched to offer cheap.

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State-backed mortgage firm to deliver cheapest home loans. The Kenya Mortgage Refinance Company, which is being fashioned as an implementing arm of President Uhuru Kenyatta’s affordable housing plan, will advance cash to commercial banks, saccos and mortgage companies on a wholesale basis to enable them to give affordable loans to account holders or members to buy or build homes.

The Kenya Mortgage Refinance Company (KMRC), a Treasury-backed lender, is expected to cut the cost of home loans to single digit from the current market rate of about 13.5 percent.

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BY PSCU, President Uhuru Kenyatta has launched the Kenya Mortgage Refinance Company (KMRC), a financial institution whose sole function is to provide long-term loans to primary mortgage lenders. The move to provide long-term cheaper funding to primary mortgage providers including Banks, Microfinance Banks and Saccos is aimed at making mortgage cheaper for Kenyans.