Roofing solutions provider Mabati Rolling Mills (MRM) has entered into a partnership with Equity Bank that will see the introduction of home loans for low-income earners.
As part of the new partnership, Equity Bank will provide home loans of at least Sh48,000 to salaried individuals and business operators with a monthly income of at least Sh20,000.
The new micro mortgage will not only finance construction projects but it will also finance value-add features covering cost of buying land and electricity connection at a fee of Sh35,000 by Kenya Power.
Individuals who do not want the prefabricated houses will have the option of using bricks or wood on the walls.
MRM recently announced plans to supply pre-fabricated houses for the Kenyan low income earners, with ready-made steel houses retailing at Sh80,000 for a two-room house.