Enwealth Home Ownership

Enwealth Home Ownership allows active pension scheme members to purchase residential houses using part of their retirement benefits as per the Retirement Benefits (Mortgage Loans amendments) Regulations 2020 in Kenya.

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At a glance
  • Assign up to 60% of accrued pension savings as collateral
  • Use a maximum of 40% of accrued pension savings, up to Kshs 7M
  • Partner banks fund the balance at negotiated rates
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About Enwealth Home Ownership

This regulation allows a member to assign up to 60% of accrued pension savings as collateral to:

  • Purchase a plot
  • Purchase a residential house
  • Construct a residential house
  • Renovate a residential house

This regulation also allows a member to utilize a maximum of 40% of the accrued pension savings with a maximum limit of Kshs 7M to purchase a ready residential house from an institution. We have partner banks to fund the balance at negotiated rates.

How it works

  1. 1

    Member applies

    Member applies through scheme board of trustees to use part of their accrued benefits to purchase a residential house.

  2. 2

    Prequalification and advice

    Scheme notifies Enwealth Financial Services Ltd to carry out member prequalification and member engagement. Advisory services to the trustees and Member.

  3. 3

    Trustees respond

    Trustees to respond to member if application lodged is approved or denied.

  4. 4

    Service provider engagements

    Service Provider Engagements commence.

Option to be Utilized

Up to 60% as collateral

Where a member wants to assign up to 60% of accrued pensions savings as collateral.

40% of accrued savings

Where a member wants to utilize their 40% of accrued pensions savings and the 40% covers their purchase of the residential house.

Pre-negotiated mortgage

Where a member wants to acquire a property through a pre-negotiated mortgage arrangement (outside the scheme).

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Submissions are kept for 24 months.