In a bid to have more Kenyans access better housing, President William Ruto has announced that he will champion a constitutional reform to have Kenyans access up to Ksh5 million in low-interest loans for mortgages.
Speaking at the 62nd Madaraka Day celebrations in Homa Bay, the President revealed that this would not only help those seeking to be first-time homeowners but also those already grappling with mortgages. "I am pleased to announce today that I shall be proposing to Parliament a reform to the law that will allow any contributor to access an affordable home loan of Ksh5 million at a single-digit interest rate, applicable to any housing unit in the market," he stated. "This facility will also enable contributors to offset existing mortgages, offering greater flexibility in their housing journey, allowing many to significantly ease their home financing costs." More to follow...
