Absa Bank Kenya has made homeownership easier with an affordable 105% mortgage offering with fixed rates, flexible terms, and coverage of all fees.
This offering enables prospective homebuyers or those planning to construct their homes to access financing of up to Ksh 10.5 million, repayable over a flexible tenure of up to 25 years.
The 105% offering covers all associated costs, including due diligence, valuation, stamp duty, legal fees, and transactional expenses.
Head of Mortgages at Absa Bank Kenya PLC, John Kaburu, stated that the product was developed in response to the current operating environment, aiming to assist more Kenyans in pursuing homeownership.
“As your financial partner, we recognize the challenges posed by the current economic climate and its effect on consumers’ purchasing power. Therefore, we have designed a mortgage solution to provide affordable credit, allowing prospective homeowners to fulfil their aspirations at ease,” said Mr Kaburu.
Absa is a founding member of the Kenya Mortgage Refinance Company (KMRC), a partially state-owned entity.
Through KMRC, banks and SACCOs can access affordable housing loans, enabling them to provide financing for homeownership at a fixed interest rate of less than 10%.
