Standard Chartered has introduced a new mortgage offering that will see clients access mortgages at 11.9% variable rate offer, 1.1% lower than the average market rate. The offer is valid for new applications submitted and approved during the offer period. The campaign is open to both existing and new clients, and runs till end of 31st October, 2021.

Those seeking to transfer their mortgage to Standard Chartered Bank to enjoy the new rate of 11.9% will get access to waived valuations fees and legal costs. This will only apply for applications submitted and approved during the campaign period.

Speaking on this, Edith Chumba, Head of Consumer, Private and Business Banking at Standard Chartered Bank Kenya said, “We understand that the pandemic had a negative economic effect which consequently affected financial positions of a substantial number of individuals. Home ownership remains a key need for a large segment of the Kenyan population and we want to make the home ownership journey an easy one for our clients. We hope that this encourages our clients to start or continue with their home ownership journey supported by a mortgage with a competitive interest rate and payment terms.”

Adding to this, Catherine Ayota, Head Affluent Banking and Client Coverage Kenya and East Africa said, “We have seen an increased demand for mortgages in the market especially among the emerging affluent. This new offering will allow our clients to take up a mortgage that is suited to their income flows and payment preferences.”

Standard Chartered Bank has a number of mortgage solutions including Purchase, Equity release, construction, and nonresident which cater to diversified clients.