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How State financing has helped firms hack off-plan mortgages

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Absa Bank Kenya's Peter Mutua signs a partnership agreement document with Unity Homes' Executive Director Jason Horsey that will allow potential home buyers to acquire houses in Tatu City through the affordable housing financing scheme. [Wilberforce Okwiri, Standard]

Securing a 100 per cent performance guarantee with a tier-one bank is one of the clauses that Unity Homes has used to prove that off-plan mortgages can work.

Unity Homes, with anticipation that such a model can be replicated by other developers, gives homeowners the confidence that if their houses will not be delivered to them, their contributions will be refunded.

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