Enabling low cost-mortgages of Ksh 10,000 and below to Grow Number of Mortgages from 30,000 to 1 million

The Kenya Kwanza government promised to grow the number of mortgages from 30,000 to 1,000,000 by enabling low-cost mortgages of Sh10,000 and below.

• With the launch of various affordable housing projects, mortgage offers have been reduced to single-digit rates, which should ideally increase the number of mortgages.
• Despite the developments in afforable housing projects, discerpancies have been reported on the award of mortgages by the Kenya Mortgage Refinancing Company (KMRC).