Ugandans to get mortgage financing to enable them acquire cheap low cost houses, minister.i

Government is considering to establishing a mortgage financing facility to enable housing investors to access the cheap loans to put up low cost houses.

Minister of Housing and Urban Development, Dr. Chris Baryomunsi.

Minister of Housing and Urban Development, Dr. Chris Baryomunsi.

This was revealed by the Minister of Housing and Urban Development, Dr.Chris Baryomunsi, while making a ministerial statement on the state of Housing in Uganda in parliament.

He says that an assessment is being done by the ministry of lands and urban development to establish the fund in one the government banks to have Ugandans easily access loans that are payable for longer periods of time in with low interest rates.

Baryomunsi says that investors in housing have been putting up expensive housing units which cannot be taken up even by many low income earners, adding that government is to cut on some of the operation costs of the investors in housing through providing utility services in the location of the housing units.

He revealed that the national housing has plans to construct over 3,000 housing units in Bukerere in Mukono and Lubowa to increase on the number of houses for city residents.

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