Mortgage system in Kenya

[Mujwahuki]

Elders nataka usaidizi kutoka kwenyu. How does the mortgage system work in Kenya and what are the interest rates? Been searching but not getting enough information about it.

 

[jaymoh]

@uwesmake

 

[karema-hitI]

@uwesmake

..ako bisy na mkia labda kesho kabla alewe

 

[Tarantinoh]

Chorea boss a colleague is crying over that.

 

[Prometheus]

http://www.hassconsult.co.ke/index.php?option=com_content&view=article&id=114&Itemid=169

heck the 2011-2014 mortgage reports.

 

[Alchemist]

If you can please try building, however slowly. It will ease the burden of constant payment later.

 

[NMK]

Won't advice you to take a mortgage in Kenya. Just look for other alternatives. Maybe save with a reputable housing Sacco.Will hopefully get you a nice analysis about this tomorrow if I ain't so busy.
My aunt took a 20year mortgage of around 120k kwa flat hapo Kileleshwa. Says biggest financial mistake of her life. To add salt to injury, restrictions za max 4floors Kileleshwa was removed. If you've been to kile lately kuna maflat kadhaa za 10 floors coming up. The exclusivity, privacy and serenity that attracted them there is no more.

 

[Mujwahuki]

Won't advice you to take a mortgage in Kenya. Just look for other alternatives. Maybe save with a reputable housing Sacco.Will hopefully get you a nice analysis about this tomorrow if I ain't so busy.
My aunt took a 20year mortgage of around 120k kwa flat hapo Kileleshwa. Says biggest financial mistake of her life. To add salt to injury, restrictions za max 4floors Kileleshwa was removed. If you've been to kile lately kuna maflat kadhaa za 10 floors coming up. The exclusivity, privacy and serenity that attracted them there is no more.

Thank you and please if you get the information get back at me.

 

[NMK]

Thank you and please if you get the information get back at me.

This thread in Wazua will help. It's looong lakini. It will give you detailed pros and cons. WARNING : Only use a desktop for Wazua.com. phone ni Shida tupu.
http://www.wazua.co.ke/forum.aspx?g=posts&t=28798

 

[Luther12]

This thread in Wazua will help. It's looong lakini. It will give you detailed pros and cons. WARNING : Only use a desktop for Wazua.com. phone ni Shida tupu.
http://www.wazua.co.ke/forum.aspx?g=posts&t=28798

Ukifingua wazua kwa simu, always view the desktop version,

 

[Purple]

If you have to take a mortgage go for the cheap to mid level houses/apartments (3-6 million) whose monthly payments you can view as a form of mandatory savings. The ROI is better because their value will appreciate faster than the high end apartments in the 15 million plus range.

 

[x-trail]

Morgage ni too expensive here in 254

 

[Purple]

Girrl you can write, hands down. You’re sitting on a talent while you could be the next JK Rowling. It’s that good!

 

[Okiya]

If you have to take a mortgage go for the cheap to mid level houses/apartments (3-6 million) whose monthly payments you can view as a form of mandatory savings. The ROI is better because their value will appreciate faster than the high end apartments in the 15 million plus range.

Mid level apartments are coming up so fast and the capital appreciation is no longer an incentive. Take for instance great wall apartment. In 2010, according to the website by a4architect, a 2br was 3.5million.



In 2017, the same house goes for 4.5 million. That's a 4% gain per annum.

 

[Touchlyrics]

Mortgage ni moto ya kuotea mbali. I have never ever heard of any successful story of a mortgage, unless for guys working in a bank! Paying for a house for 25 years is no joke! Interest adjustments can make monthly payments go up instantly to levels you cant afford, na hao ikuwe repossessed hivyo tu.

Enda sacco uchukue loan ujenge tu pole pole, bila stress mingi.

 

[sani]

Rent that dream house if its a must you stay there. Otherwise its cheaper and better to build from scratch

 

[vuja de]

Girrl you can write, hands down. You’re sitting on a talent while you could be the next JK Rowling. It’s that good!

you're home. go drunk

 

[1776]

Girrl you can write, hands down. You’re sitting on a talent while you could be the next JK Rowling. It’s that good!

Now you're a different colour

 

[1776]

Build slowly. Wachana na mortgage. My pal tells me that the repo rate is so high. Unfortunately even for banks they can't offload the houses as fast as they want.

It's toxic. My pal works for a mid tier bank in the city.

 

[Purple]

you're home. go drunk

Now you're a different colour

That comment was meant for @pseudonym ..sorry blame the acoho.