Is Housing Gap a Consequence of Willingness and/or Eligibility to Mortgage Financing by Respondents in Uasin Gishu, Kenya?

Richard Kiplangat Siele, Vincent Ngeno, Wilson Kibet Tuigong


Despite significance of mortgage financing, previous research indicated that at best only 3% of households in urban areas in Kenya were eligible for mortgage financing. The study sought to establish the role of socio-economic factors (income level, rental income and education level) on willingness or/and eligibility to mortgage financing. The study adopted explanatory research design. Target population was obtained in the records of all the 16 financial institutions licensed by Central Bank of Kenya offering mortgages in Uasin Gishu County. Purposive and convenience sampling was used in picking the 16 Financial Institutions and 749 respondents respectively. Structured questionnaires and a Double Hurdle Model were employed. Income level and rental income positively and negatively influenced willingness to participate in mortgage financing respectively. Income level and rental income significantly and positively influenced eligibility. The findings are important to the Uasin Gishu Government, financial institutions and other stakeholders in making appropriate policies.

Keywords: Mortgage financing, willingness, eligibility, double hurdle model, Uasin Gishu, Kenya

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