KCB Bank Kenya has partnered with Centum Real Estate to roll out a new mortgage offering aimed at enhancing access to home financing. The offer is anchored on a fixed discounted rate of 8.9% for up to 25 years, backed by a programme by the Kenya Mortgage Refinance Company (KMRC).
The collaboration aims to shifts peoples focus from headline property prices to affordable monthly repayments, with estimates at about KES 20,809 for a KES 2.5 million unit, KES 41,618 for a KES 5 million one bedroom and KES 83,236 for a KES 10 million unit.
“Too many people stop at the headline price of a home (millions) and assume ownership is out of reach. We want to help customers start with a monthly number they can understand, plan for, and work toward with confidence,” said KCB Bank Director of Mortgage Business, Caroline Wanjeri, during the signing of the MoU.
On his part, Centum Real Estate Managing Director, Kenneth Mbae, emphasized the importance of understanding and planning the homeownership process.
“A good home should be more than something people admire from a distance. It should be something they can understand, plan for, and move toward with confidence,” he said.
KCB Drives Mortgage Accessibility Push Across Kenya
The partnership is expected to strengthen Kenya’s underdeveloped mortgage market by shielding borrowers from interest rate fluctuations. Additionally, its underscores the commitment by real estate developers and commercial lenders to stimulate housing demand by improving access to mortgages.
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