State lender to take over bank mortgages

A construction site. FILE PHOTO | NMG

Secondary lender Kenya Mortgage Refinance Company (KMRC) is set to complete its review of housing loans held by banks this week, paving the way for transfer of middle-income groups to its fold.

Interim chief executive officer Johnstone Oltetia said a consultant hired to review existing mortgage portfolios is on course to submit a report by end of August.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.