Source – Business Daily
Date – May 6, 2025
Editor’s Note- In the article, Beatrice Chege, Head of Mortgage Business at ABSA Bank, dispels the myth that mortgages are only for the wealthy or are overly burdensome, arguing instead that they can be a smart long-term investment. She explains how redirecting rent payments toward a mortgage can turn a liability into an appreciating asset, offering both security and financial leverage. While mortgages require commitment and planning, they provide stability compared to more volatile investments like stocks. Chege highlights the role of KMRC in making home loans more accessible through fixed, low-interest rates and extended repayment periods, noting that over 4,600 loans worth KES16 billion have already been issued. She urges individuals to make homeownership decisions based on their life stage and financial goals, framing mortgages as a viable wealth-building tool in today’s uncertain economy.
