A mortgage can cut a 25-year journey to owning a home to just a day’s chat with your banker. But it can also reduce your 25 years of happiness to just that one day’s chat. And you can easily sign for either choice.
Francis Joseph Kamau Ichatha applied for a mortgage of Sh1.3 million in 1991 and a further Sh300,000 in 1992 from Housing Finance. He was to pay a monthly instalment of Sh 26,273 at the rate of 18 per cent a year for a period of 15 years.
