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.
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- 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
Is it better to have a large deposit rather than pay off debt?
What the experts say
False, a common mistake for first time home owners is to focus on saving as much money as possible for a down payment instead of paying off other debts. A better approach is to use extra cash to eliminate credit-card and other high-interest consumer debt even if that means you can put down less on your future home.
Speak to our friendly experts