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Harambee Sacco now offers subsidised mortgage in State-backed plan
Nairobi Metropolitan Service (NMS) Major General Mohammed Badi(left), Harambee Sacco Vice-Chair Beldina Oguya (centre) and Harambee Sacco Chairman Macloud Malonza cut a cake during the launch of two new mortgage schemes at Serena Hotel in Nairobi. PHOTO | EVANS HABIL | NMG
Harambee Sacco Monday became the first lender to offer mortgages at an annual subsidised interest of seven percent under a plan supported by a State-backed home loans refinancing plan.
This is after newly established Kenya Mortgage Refinance Company (KMRC) approved the sacco’s two mortgage products, Harambee Home loan that enables its members to purchase readily built houses and Harambee Jenga loan, where borrowers are facilitated to build a house on their own parcels of land.
