Housing Finance Bank To Offer Mortgage Solutions and Financial Literacy at Homes and Construction Expo

Today, Uganda’s homeownership landscape has its share of opportunities and challenges around affordable housing financing. While urban areas are witnessing growth and increased access to mortgage financing, informal settlements and inadequate housing infrastructure contribute to the housing crisis. Additionally, traditional housing construction methods persist in rural areas, compounded by land ownership not backed by formal documentation.

In recognition of these issues, Housing Finance Bank is set to address these issues by showcasing its tailored mortgage solutions and promoting financial literacy at the upcoming Homes and Construction Expo, scheduled for 25th to 26th November at the Kololo Ceremonial Grounds under the theme “Innovations, Standards, and Opportunities”.

Established nearly six decades ago, Housing Finance Bank has evolved into a tier-one commercial bank regulated by the Bank of Uganda. With 100% ownership by Ugandans, including institutional shareholders like the National Social Security Fund and the government of Uganda, the bank plays a pivotal role in shaping the country’s financial landscape.

The bank’s commitment to addressing housing challenges will take centre stage at the upcoming Homes and Construction Expo. John Baptist Kaweesi, the Head of Mortgages and Consumer Banking, expressed the bank’s dedication to sustainable homeownership and financial independence. He emphasized, “Our purpose is to enable sustainable home ownership and financial independence. Whether you are an individual looking to own a home or seeking funds for a specific purpose, we have solutions that can fit within your cash flows.”

Kaweesi highlighted the advantages of opting for a mortgage over traditional savings, noting that while saving is essential, a mortgage allows for structured payments aligned with individual cash flows. This flexibility, he argued, enables individuals to move into their homes quickly, saving on rental expenses.

The Homes and Construction Expo provides a platform for Housing Finance Bank to showcase its housing-related solutions, including mortgage options, land purchase, real estate financing, equity release, completion, and commercial properties. The bank aims to engage attendees in a meaningful two-way conversation, understanding their unique needs and offering tailored support.

Kaweesi encouraged the public to visit the bank’s stall at the expo, stating, “We have solutions, but what more are you looking out for? It’s not going to be a one-way conversation. We will share with you what we have and what more we can do for you. We are eager to listen to you and discuss even beyond the housing-related services.”

The bank’s commitment extends to supporting low-income earners with products designed to accommodate those who may not qualify for a large mortgage. Kaweesi emphasized, “As little as sh200,000, you can get started. We do not only look at the land title; we have a framework for different customers within urban and rural areas. If you talk to us, we will be able to advise you.”

Housing Finance Bank’s participation reflects its dedication to being a catalyst for positive change in Uganda’s housing sector, offering financial solutions and valuable insights and guidance to empower individuals on their journey towards homeownership.