This paper aims at assessing the effectiveness of mortgage loan in order to assess the claims made by the customers regarding mortgage demand resulting from the financial crisis. Multiple method of data collection was used involving the use of questionnaires and semi-structured interviews. The findings revealed that demand have been both effective and ineffective. Demand was found to be effective were customers’ mortgage loan applications were turned down because of excess demand over supply. It was also effective where qualified lenders’ mortgage loan applications were turned down for reasons associated with nationality status. On the contrary the ineffectiveness of mortgage loan was based on the fact that some of the customers who asked for a loan were not qualified. The findings also revealed a statistically significant mean difference of 0.803, 1.375 and 2.178 in comparing the periods before and during, during and after and before and after the financial crisis respectively at 95per cent confidence interval.
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