Browsing by Author "Nakiwala, Margaret"

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    Examining Awareness, Attitudes, and Challenges of Owner Developers Regarding Mortgage Financing Eligibility Terms in GKMA, Uganda
    (East African Journal of Business and Economics, 2023) Nakiwala, Margaret; Mukiibi, Stephen; Kiggundu, Amin Tamale; Hailu Elias
    This paper explored how owner-builders in GKMA, Uganda, perceive and access mortgage financing from commercial banks. We employed a descriptive study design including quantitative and qualitative data collection methods using questionnaires with semi-structured open-ended and close-ended questions about mortgage financing to collect data from 400 owner-builders Centenary Bank and House Finance Bank clients. Questionnaire information on basic requirements, awareness, attitudes and challenges was analysed using Likert Scale Mean Scores and correlation statistics using STATA 17. The paper found that owner-builders face high interest rates, cumbersome mortgage processes, poor mortgage product sensitisation, time-consuming phased disbursements, corrupt bank officials, and high initial contributions as significant challenges. The paper suggests policy recommendations to improve access to mortgage financing in GKMA, Uganda. This paper recommends that financial institutions provide more information, support, and flexibility to owner-builders who want to access and manage mortgage financing. The study further suggests that the government and the financial sector work together to improve financial inclusion, literacy, innovation, competition, regulation, and support for low-income households who want to access mortgage financing in Uganda
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    Mortgage Financing: Access, Knowledge, Attitudes and Challenges Experienced by Urban Housing developers
    (East African Nature and Science Organization, 2023-01-05) Nakiwala, Margaret; Mukiibi, Stephen; Kigundu, Amin Tamale
    This paper summarises the housing challenges that stem from the increasing population growth in Uganda by reviewing the literature. The housing deficit is the problem that the goals set in the National Development Plan (NDP III) determine to alleviate. In her NDP III, Housing Finance Bank strategised to offer affordable mortgages to Ugandan citizens. It is clearly stated in the NDP III that the problem of housing financing is left to the individuals as the central government cannot set up housing for all its citizens. The theories that guide the use of mortgage financing include the Lien, Title, Intermediate, and Lifestyle theories. This argument is presented in a systematic literature review of studies about the issues around mortgage financing in different parts of the world—specifically, Access. Established Knowledge, Attitudes and Challenges of accessing mortgage financing were issues of concern that needed researching. Moreover, the literature confirmed that the biggest challenge that housing developers endure to access mortgage financing is the high-interest rates, especially in developing countries. Various economies have people with different knowledge about Mortgage Financing. Uganda is the case study that aimed at increasing urban housing accessibility by citizens of the country. The research method applied in this paper is purely qualitative research that analyses the opinions of different academic scholars in mortgage financing. However, this paper argues that financial institutions' eligibility terms significantly limit Access to Urban Housing through mortgage financing. The set terms need to reviewing to suit the informal setting of developing countries like Uganda. The recommendation from the study is the adoption of a central tool to oversee the set eligibility terms on mortgages.