With an average home loan size at Sh10.9 million in 2017 repayable in nearly 12 years, very few Kenyans can afford to own a home through bank financing.
This is because one will need more than Sh100,000 monthly on average to service a mortgage even with the September 2016 legal ceilings on loan charges, which helped slash average interest rate for home loans to 13.57 per cent last year from 18.7 per cent a year earlier.
