The Greenhouse, 2nd Floor
Adams Arcade, Ngong Road
P.O. Box 29310-00100, Nairobi
Tel: +254 729 933955, +254 737 933955
|What happens to my mortgage repayments if I should be retrenched?|
With the difficult economic times it is not surprising to be retrenched 2-3 times in your career. However, this should not stop you from owning a home. At TMC we have recently made innovations in our work with some insurance companies to develop a retrenchment cover that pays your mortgage for up to 9 months to allow you to either get another source of income or to make an informed decision about the next steps on your home.
The retrenchment cover sees to it that the most important asset of your life and the symbol of security is not pulled from under your feet just because you have lost your job.
» Speech by Caroline Kariuki,Managing director of Mortgage Company on mortgage report in kenya
» Mortgage broker forays into Kenya
» 3 facts about joint Mortgage Applications
» 3 facts about Equity Release
» 3 facts about Investing from the Diaspora
- Hass Property Index Q4 2013
- Mortgage Special Report Q4 2013
- The Mortgage Special Report Q3 2013
- Hass Index Q3 2013
- Hass Property Index 2nd Quarter 2013
Housing market activity rebounds on CBK rate cuts
back to life
Annual Index Highlights:
HassConsult today unveiled the Hass Property Index results for the final quarter of 2012, showing a sharp upswing in viewing and enquiries, but still relatively flat sales pricing - although rental prices continued to rise steeply across all segments of the market.
“The sensitivity of buyers to interest rates, even in a largely unmortgaged market, has shown up very sharply in sales activity and pricing in the last 18 months,” said Sakina Hassanali, Head of Research and Marketing at HassConsult. “With rates slashed, enquiries returned to much the same levels of early 2011.”
However, sales prices are taking somewhat longer to gain momentum. Pushes for higher sales prices in quarter three achieved little real gains, seeing asking prices remain largely static in the final quarter.
But asking prices for rentals continued to climb strongly. With asking rents rising by an overall 4.1 per cent, the biggest rises came at the top of the market, where rents for standalone properties rose by 5.2 per cent on the previous three months, making for a 17. 2 per cent increase from January to December 2012.
“The upwards correction in rents, as buyers have held off for better financing terms, has been particularly strong after the relatively flat rentals market in the preceding two years, and may yet take some months to level out,” said Ms Hassanali.
Even the previously stagnant apartment rental market recorded further rises in asking prices, up 2.1 per cent on quarter 3 and 15 per cent on the final quarter of 2012.
“Overall, the picture is of a market returning to buoyancy,” she said.
“Rental yields are now stronger, following the year of rental rises, and financing is moving into a steadily more affordable range. This combination augurs well for a strong year in real estate in 2013, based on financial fundamentals and despite all the uncertainty that comes with an election year.”
First time buyers promise
Speak to our friendly experts