Kenyans buying the affordable housing units under the Affordable Housing Programme (AHP) could face a significantly shorter window to recover from loan defaults if proposed amendments to the Land Act are approved by Parliament.

🇰🇪 Breaking It Down

The proposed changes would allow lenders to move faster to enforce loans and sell properties used for affordable housing, raising concerns over the risk of homeowners losing their properties before they have sufficient time to resolve financial difficulties.

The concerns were raised by the National Assembly Departmental Committee on Lands on Tuesday, July 28, where the committee began reviewing the proposed Business Laws (Amendment) Bill.

"The National Assembly Departmental Committee on Lands has begun scrutinising proposed amendments to the Land Act that would significantly shorten the timelines for lenders to enforce loans and sell properties under Kenya's affordable housing programme," parliament stated in a statement.

📰 Source: Kenyans.co.ke