DRIVERS OF CHOICE OF BANK LOANS FOR FINANCING HOME OWNERSHIP IN KENYA: A CASE OF SURAYA LTD
Abstract
The main purpose of the study was to assess the determinants of choice of bank loans as a mode of financing home ownership: Consequently, the study was guided by the following objectives: - To establish whether interest rates influenced the choice of bank loans as modes of financing home ownership in Kenya and to establish whether loan repayment period influence the choice of bank loans as modes of financing home ownership in Kenya. The study was guided by loanable funds theory and financial intermediation theory. The study used the mixed research designing which both quantitative and qualitative approaches were used in data collection and analysis. This study employed explanatory research design. The target population of this study was a sample size of 90 house owners. This study used primary data which was collected through use of a questionnaire. The organised data was interpreted on account of concurrence to objectives using assistance of computer packages especially Statistical Package for Social Sciences (SPSS) to communicate the research findings. Descriptive analysis was employed; which included; weighted mean frequencies and percentages. Inferential statistics such as correlation analysis was also used. A logistics/odds ratio regression model was used to test the significance of the influence of the independent variables on the dependent variable.
Key Words: Interest Rates, Loan Repayment Period, Mode of Financing
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DOI: http://dx.doi.org/10.61426/sjbcm.v4i3.524
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