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Tuesday, 10 November 2009

Uganda: Creating Wealth Through Housing Mortgage

Owning a house in Uganda is comparatively low largely due to the limited access to funding. Ugandans can however have their own house through getting a mortgage.

National Housing Company Limited (NHCCL) has signed a mortgage partnership with Stanbic Bank Uganda.

NHCCL has constructed 144 housing units that will be available for sale. However at the price of about Ugshs78m ($3900) then it would be hard for the user to access such an amount of cash. Stanbic Banks partnership will ease this on the projected home owner by financing them.

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