Sharp Daily
No Result
View All Result
Friday, September 19, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

KMRC Partners with Cooperative Bank to offer low rate Mortgages

Dennis Otsieno by Dennis Otsieno
March 24, 2023
in News
Reading Time: 2 mins read
Co-operative Bank Kenya slashes airtime charges

Co-operative Bank Kenya [photo/Courtesy]

Kenya Mortgage Refinance Company (KMRC) has partnered with Cooperative bank to offers mortgages at the rate of 9.9 percent. This rate is the least in the market given that the Central Bank of Kenya puts the average mortgage rate in the country at 12.9 percent.

Employees earning not more than Kshs 150,000 per month in Kenya are now eligible to own a house and pay for 15 years at 9.9 percent.

The new low rate is expected to set the pace for the Saving and Credit Cooperative Organizations (Sacco) movement in the country which has found low-hanging fruits in funding affordable housing in the country.

Read: Telkom Kenya on the verge of losing its license on the back of high debts

RELATEDPOSTS

public-private partnerships: A trust crisis or an opportunity for reform?

November 22, 2024

IMF scales back Kenya support with cautious KES 78 billion loan

October 31, 2024

The Affordable mortgage has been made possible by Kshs 549 million initial disbursement from the KMRC which Co-op Bank will top-up with counterpart funding to create a significant kitty for on-lending to customers.

The product was crafted after many months of negotiations and consultations with key housing stakeholders including property developers and micro-credit agencies.

The two firms termed the move as the first major attempt at making mortgages available to the majority and maybe a game-changer towards realizing the long-held goal of affordable housing in Kenya.

Read: Kenya eyeing Kshs. 1.3 trillion UK trade deals

Financing solutions will be made available to landlords, contractors and developers to facilitate a coordinated sector-wide response towards the provision of affordable housing as long-desired by many households in Kenya.

The deal is coming barely two months after Mwalimu Sacco unveiled a plan that will see members access a minimum mortgage of Kshs 500,000 and a maximum loan of Kshs 8 million to build houses.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

The Hospitality Industry Shivered by Weekly protests

Next Post

KICC Sued for Kshs 339 million Compensation Over a Failed Contract

Dennis Otsieno

Dennis Otsieno

Related Posts

News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025

LATEST STORIES

Ways the KRA can leverage technology to stay ahead of smugglers

September 18, 2025

Evaluating Defined Benefits and Defined Contributions

September 18, 2025

Airbnbs or Ubers? The first-time investor in Nairobi

September 18, 2025

Fed cuts rates for first time since 2022

September 18, 2025

Sustainable mixed-use developments in Kenya

September 17, 2025

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

Mid-September momentum: CMMF posts strong yields and growing trust

September 12, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024