A source privy to the group's undertakings said HF has seconded its general manager for mortgage sales David Maveke to Mombasa with a view to "developing the region's property market".
Maveke has been tasked with growing the coast region's mortgage market while developing capacity of staff at the Mombasa branch, as the lender positions to take a lion's share of mortgages in the booming market.
Fractional ownership has started taking root at the coast, where up to 12 buyers can own a share in a single luxury unit, which they choose to either use under time-share or earn rental income by letting.
Where 12 buyers own a single unit, this translates into one month every year. Revenues are then shared factoring in the time each co-owner availed for letting.
Though the coastal market is mostly sought after by cash buyers seeking luxury property, the new models of ownership are offering reprieve for starters who can the seek mortgage financing to buy.
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