President Uhuru launches mortgage company for cheap homes

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President Uhuru Launches Mortgage Company for Low-Cost Houses. REAL ESTATE NEWS | May 22 2019.. kenyan workers Reject President Kenyatta’s Cheap Houses Monthly L. REAL ESTATE NEWS | dec 14 2018. Dec 14 2018.

President Kenyatta has officially launched the Kenya Mortgage Refinancing Company (KMRC), a government-backed entity whose mandate is to deliver low-cost houses to low-income earners in the country. KMRC has been formed through a partnership between the government and the private sector.

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Treasury sets up financier for Uhuru’s low-cost home loans plan. "The National Treasury is supporting the affordable housing agenda by facilitating the creation of a mortgage liquidity facility -the Kenya Mortgage Refinance Company (KMRC)," Treasury secretary Henry Rotich said yesterday at a meeting to brief heads of banks and saccos.

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Kenya has unveiled a mortgage refining facility-Kenya Mortgage Refinance Company (KMRC), a short in the arm in President Uhuru Kenyatta’s affordable housing scheme under the Big Four Agenda. KMRC will provide long-term funds to primary mortgage lenders in order to increase the availability and affordability of mortgage loans to Kenyans.

NAIROBI, 15th April 2018 (PSCU) – The Government is set to launch a low cost housing project that will see 30,000 houses constructed in Nairobi’s Eastlands area, as the ‘Big Four’ agenda takes shape. The low cost project targets to putting up 5,000 houses in Shauri Moyo, 20,000 houses in Makongeni, 3,000 houses in Starehe and 2,000 units in Park Road estates.

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The Kenya Mortgage Refinance Company (KMRC), a Treasury-backed lender, is expected to cut the cost of home loans to single digit from the current market rate of about 13.5 percent. President Uhuru Kenyatta Wednesday presided over the launch of KMRC, which is expected to help drive the State’s agenda of providing up to 500,000 cheap housing.