BUSINESSREAL ESTATE

Absa Bank Offers Homeowners 9.5% Mortgage Rate

Share
Absa Bank Kenya mortgage rate
The open day served as an avenue for customers to learn about benefits of homeownership mortgages.
Share

Absa Bank Kenya hosted an open day at Maisha Developments in Tilisi, Limuru, to engage with homeowners and real estate investors, amid falling interest rates, that has opened doors for mortgage growth.

The open day served as an avenue for customers to learn about benefits of homeownership mortgages including insurance covers and attractive financing options tailored to their needs. Prospective buyers were taken through three communities – Maisha Mapya, Maisha Makao and Maisha Mema – with high quality finishes.

Maisha Mapya features two-bedroom apartments from Ksh6.2 million and three-bedroom apartments from Ksh8.8 million, Maisha Makao has two-bedroom apartments from Ksh9 million and three-bedroom apartments from Ksh11.3 million while Maisha Mema features three-bedroom townhouses from Ksh26.5 million and four-bedroom townhouses from Ksh30.5 million.

In the last couple of years, Tilisi has come up as one of Kenya’s most promising real estate investment destinations. The town located in Limuru has attracted investors due to its strategic location, master-planned infrastructure, and serene environment.

> Beneficiaries of Government Affordable Housing Speak Out

The region has been developed with modern amenities, well-developed roads, and proximity to Nairobi, making it an attractive hub for both residential and commercial developments. As urban areas become increasingly congested, developments in Tilisi provide a unique blend of convenience, affordability, and high standards of living.

Seen as both a target for first and second time owners for stay, leasing or renting, banks have focussed on this fast growing segment with new mortgage products while partnering with real estate developers to bridge the homeownership gap by offering tailor-made mortgage solutions. Financial institutions like Absa are playing a crucial role in making property ownership more accessible responding to the rising demand for housing and homeownership financing.

“We are committed to ensuring access to sustainable finance for our customers to own their dream homes and invest in real estate. We offer flexible mortgage solutions, including up to 105% financing for properties below KES. 10.5 million and up to 90% financing for properties above this. Additionally, buyers can benefit from interest rates as low as 9.5% p.a. for properties below KES. 20 million, with a maximum loan amount of Ksh10.5 million. We also offer an extended repayment period of up to 25 years, comprehensive domestic insurance solutions, and a 48-hour mortgage application response time,” said Absa Bank Kenya Head of Mortgage, Ms Beatrice Chege.

Prospective buyers received the opportunity to interact with Absa Bank Kenya’s home loan experts, who provided guidance on the homeownership financing process and offered tailored solutions to meet individual needs.

> 500,000 Motorbikes and Counting – Financing Company Sets Eyes on New Milestone

Written by
BT Reporter -

editor [at] businesstoday.co.ke

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WHAT YOU NEED TO KNOW IN POLITICS

FOLLOW US ON SOCIAL MEDIA

Related Articles
President Ruto's Recent Cabinet Changes Fire Muturi
NEWSPOLITICS

President Ruto’s Recent Cabinet Changes Fire Muturi

President William Ruto has announced today, Wednesday, 26 March, a fresh series...

Qoobiss Launches Origin
BUSINESSTECHNOLOGY

Qoobiss Launches Origin, a Global Platform that Helps Automate Workflows

Origin stands out as a unique solution with its combination of no-code...

M-Pesa at 18 concert
BUSINESS

In 18-Hour concert, 12000 Kenyans Celebrate M-PESA at 18

The M-PESA at 18 Concert was an electrifying celebration of the evolution...

Kevin Mutiso, DFSAK Chairman
FEATURED STORY

Kenyans Borrowing Ksh500 Million Daily From Digital Financial Service Providers

A new report by the Digital Financial Services Association of Kenya (DFSAK)...