This archive report was first published on 1 July 2020.
On July 1, 2020, Tatu City and Absa Bank Kenya signed a historic mortgage financing deal that aims to make home ownership more accessible to Kenyans.
The partnership will see home buyers and developers access preferential mortgages at the Kiambu County-based Special Economic Zone development.
Under the deal, applicants will enjoy up to 80 percent financing on normal mortgages as well as 100 percent financing on construction mortgages, with no early repayment charges.
According to George Laboso, head of mortgage at Absa Bank Kenya, the deal will provide home buyers and developers with the capital needed to finance construction and other home needs.
Beatrice Njeri, head of residential sales at Tatu City, added that the partnership is aimed at making home ownership accessible to all income earners.
"We understand just how difficult it is for many people to own a home, despite this being a dream for most Kenyans," Mr Laboso said.
