Stanbic in mortgage deal for Sh400m housing complex



The Standard | by James Wanzala


Property developer Purshottam Developers and Stanbic Bank Kenya have entered a structured mortgage finance partnership deal.

The deal will enable customers affordably own homes at the just-completed Magic Dash Apartments in Ruaka.

Stanbic customers will acquire the one to three-bedroom apartments with a standard minimal deposit and subsidised mortgage loan interest at 9.5 per cent for loan amounts below Sh8m as part of the partnership that also ropes in the Kenya Mortgage Refinance Company (KMRC)…

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