KCB gets Sh1.8 billion to fund cheap mortgages

A KCB branch in Gikomba Market in Nairobi on Thursday, November 12, 2020. PHOTO | DENNIS ONSONGO | NMG

KCB Group has become the eighth lender to get funds amounting to Sh1.8 billion for refinancing home loans under the state-backed plan which seeks to increase house ownership largely amongst workers earning less than Sh150,000 a month.

The Kenya Mortgage Refinancing Company (KMRC) said it has disbursed the funds to the country’s largest home loans financier by market share after several months of due diligence on mortgages to be funded.

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