Kenya's National Assembly Departmental Committee on Lands began reviewing proposed amendments to the Land Act on Tuesday that would shorten timelines for lenders to enforce loans on affordable housing units.
The committee started scrutinising the Business Laws (Amendment) Bill on July 28. The changes would allow faster enforcement of loans and sales of properties under the Affordable Housing Programme.
Parliament stated that the amendments would significantly shorten the timelines for lenders to enforce loans and sell properties. Concerns were raised about the risk of homeowners losing units before resolving financial difficulties.
The developments come as the government seeks to expand access to affordable home ownership, with homeowners able to use the units as collateral for loans.
