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.
