Absa Kenya has partnered with Tatu City to offer preferential mortgage finance rates to potential home buyers.
According to the bank, it will avail up to 80 percent financing to normal mortgage applicants and 100 percent financing to customers who take up construction mortgages.
Absa Bank Kenya PLC Head of Mortgage George Laboso said, “This partnership will enable us to help these homebuyers realise their dreams. We are equally excited to help existing owners unlock capital to finance their construction and other home needs.”
On her part, Tatu City Head of Residential Sales Beatrice Njeri said: “Tatu City’s mission is to offer homes and serviced plots that are accessible for all incomes and the Absa partnership underscores that commitment.”
Absa Bank Kenya has been in the mortgage space for many years offering some of the longest-tenured mortgages of up to 25 years in the market and interest rates of up to 12.25 percent per annum.
The bank offers several solutions including New Home Purchase Plans, Buy to Let, Construction Mortgage, Plot and Construction, LaRiba Mortgage as well as Foreign Currency Mortgages.
“We understand just how difficult it is for many people to own a home, despite this being a dream for most Kenyans. It is our brand purpose- to help all our customers achieve their ambitions, aspirations, and possibilities in the right way,” Laboso added.
The bank has assigned a dedicated Relationship Manager to clients who own homes or are purchasing properties in Kijani Ridge, where Tatu City sells fully serviced plots from Ksh 12.4 million.
Tatu City recently received approval from the National Environment Management Authority to start development on the project’s 2,500-acre second phase. The city’s first phase, also 2,500 acres, has more than 50 businesses operating or developing, two schools open educating 3,000 students daily and more than 5,000 homes delivered or under construction.