Absa Kenya pens mortgage financing deals with Tatu City

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Absa Kenya and Tatu City have unveiled a new mortgage deal for home buyers and developers within the expected City complex. This will see real estate developers within the Special Economic Zone development get preferential mortgages from the lender’s new partnership. 

According to the deal, Absa Kenya will provide homeownership solutions to homeowners and property developers within Tatu City. These solutions will include financing construction loans, Lariba mortgages alongside equity releases. 

Further, the deal will have the banker provide home insurance products such as fire insurance and mortgage protection options. This is in line with the deal’s expectations to provide the capital necessary for financing property and home construction needs, according to George Laboso, Absa’s Head of Mortgage. 

“We understand just how difficult it is for many people to own a home, despite this being a dream for most Kenyans. Our brand’s purpose is to help our customers achieve their ambitions, aspirations, and possibilities in the right way,” adds Mr. Laboso. 

Absa Kenya also expects to provide mortgage applicants with 80 percent financing on standard applications. This will be alongside a 100 percent financing on expected Tatu City construction mortgages. Applicants should also expect no early repayment charges with the mortgage loans. 

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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