Home Ownership through Mortgages Set To Receive Boost under New Regulations

Financial institutions like commercial banks will be required to immediately give up the full rights to individual apartment buyers when they finish paying up their mortgages or loans under new regulations aimed at boosting homeownership.

This is opposed to the past where buyers purchasing property on loan under a mortgage scheme could only get a partial discharge from a financial institution upon completion of payment of the loan.

The ministry is now collecting public views on the draft Sectional Properties Regulations 2021, which outline the issuance of title documents for individual houses on multi-storeyed buildings paving the way for the gazettement of the rules.

Find Property in Uasin Gishu County

Baoriat Agencies

Call: +254 721-554-937

The new law will empower individual housing units owner(s) to utilize their properties as they wish without jeopardizing the interests of other units’ owners.

This will allow the sale of property and the use of the sectional property as collateral for a loan.

When you take out a mortgage, the lender registers an interest in, or a charge on, your property. This means the lender has a legal right to take your property. They can take your property if you do not respect the terms and conditions of your mortgage contract. This includes paying on time and maintaining your home.

Newly published regulations by the Ministry of Land reform this practice by allowing such a purchaser to get fully discharged by a financial institution on completing the payment of a loan.

The ministry published the regulations meant to guide the long-waited law on sectional property ownership, which President Uhuru Kenyatta’s administration hopes will boost homeownership by allowing apartment owners to possess title documents.

The regulations guide the creation of sectional titles for developed housing units in highrise buildings, in place of land title deeds for the whole developed multi-storied properties.

The titles confer absolute ownership to the unit owners who can deal or transact without seeking any consent from the developer as then was the practice.

Baoriat Agencies is committed to helping you find the best place for you to settle in Eldoret town. We walk you through the entire process of acquiring your own property in Eldoret until it has been transferred into your hands.

To learn more about buying a property in Eldoret,

Call 0721-554937

WhatsApp https://wa.me/0721-554937

Email evekibet@gmail.com or

Visit us at Juma Hajee Building room number 16, Eldoret town

Follow our Facebook Page Boariat Agencies for the latest deals.

Comments

Major Streets in Eldoret Town – Perfect for Mega Investments

If you are looking for a place to put your investment in around Eldoret town, then consider the Central Business District (CBD). With the growing population that is pushing the expansion of Eldoret town – which is currently an economic, education, sports, health and a transport hub for at least 23 counties in the North Rift region and Western Kenya, this Uasin Gishu’s capital is the best bet for your investment. The Eldoret CBD is comprised of FOUR major streets where you can be sure your investment of whatever kind will give you maximum returns. Here are the four major streets in Eldoret CBD: Ronald Ngala Street When you are coming into Eldoret town from Nairobi through Nakuru Highway, this is the first street you will come across as you enter the CBD. Just at the start of Ronald Ngala Street is the iconic Barng’etuny plaza – one of the oldest buildings in the town. Opposite it is several banks including Bank of Africa, Sidian Bank and Cooperative Bank. Other key facilit

WHAT ARE TITLE DEEDS

First of all we want to know what exactly is a title deed? A Title Deed according to the dictionary is a legal deed or document constituting evidence of a right, especially to ownership of property. That means that for one to have claim on a piece of the land, he / she must have a title deed written in his/ her name. When looking to invest in a piece of land, the first thing you will need to do as a buyer is to conduct an official title deed search at the local land registry. This is often done in the county office in which the land is located. In Kenya there existed different types of title deeds as per the different types of land Acts that have been in existence from colonial times up to the post-independence era. Find Property in Uasin Gishu County Baoriat Agencies Call: +254 721-554-937 Here are the different types of title deed: Indenture : a title under the Government Lands Act Cap 280 (repealed) Grant : Government grant under Registration of Titles Act Cap 281 (repealed) a

HOW TO MAKE MORE PROFIT AS A POULTRY FARMER IN KENYA

Poultry farming is one of the lucrative farming businesses we have in Kenya. Every poultry farmer would wish to make more profit in terms of good cash. We as the Baoriat Agencies will guide you through your successful journey of poultry farming. Breed choice and the market type are two major underlying factors that will help any poultry farmer make more profit than before. Breed type. In Kenya, we have various breeding types of chicken namely; Rainbow rooster, Kenbro, Kuroiler and KARI improved kienyeji. When it comes to breed type, always opt for the birds with high egg production and has low feed consumption. KARI improved Kienyeji Chicken are the best breed because they exhibit desirable characteristics such as resistance to diseases, mature very fast as compared to other breed type, have the sweetest meat and also they produce eggs of high quality. They also require an average of 50 grams of feed per day hence, saves the farmer a lot of money used to buy the chicks feeds. Market.

Baoriat Real Estate Limited

Search This Blog