47 units in one month? Call and visit
This project is estimated to take one month to full completion with a budget of Kshs.5,000,000 only.
Who will protect Borrowers who fall behind in payments? CBK take a stand.
The first frontier for protection, is education. Borrowers must know the processes for Debt Collection when they fall on hard times and fail to meet payments. As it stands, getting one’s head around their situation requires that they almost have a law degree and multi-tasking pedigree!
CRB Act, Land Act 2012, Land Registration Act 2012, Contract Law, Auctioneer’s Act, the Banking Act, CBK Prudential Lending Guidelines to mention but a few, are some of the pieces of legislation that Borrowers must peruse to understand what options they have.
Did you know that all contracts with your Bank are subject to the current laws of the land?
ONE SOURCE OF TRUTH
Central Bank of Kenya needs to set an industry standard of steps that Financial Institutions must follow when bearing down on Borrowers to pay them back. These steps must be set in law so that the contracts drawn and the charges registered, are subject to the laid down Debt Collection procedures.
It is now time to put it all into one document – for ease of reference, to both Lenders and Borrowers. This will save the Courts’ time. Mediation will prove to be easier and, most importantly, Borrowers will be well guided in their dealings with Lenders.
Is it time for a Foreclosure Act?
This specific legislation exists in other jurisdictions and distressed Kenyans would greatly benefit from the stress of arm-wrestling bankers and auctioneers.
At a minimum, it is time that Debt Collection Procedures were clearly articulated in Banking Facility Letters, much the same way General Terms and Conditions form part of the executed Loan documents, Insurance Policy Documents and Account Opening documentation.
The building inspector learned, and then said yes
Built 20 years ago, this COB home (mud, sand and straw home) has survived 20 years of showering – and the shower looks awesome! Is it time to broaden our views on what home looks like?
A corporate business head wakes up
Can you build solidly with mud? People from various parts of the world gather to learn different mud construction techniques. How did cement overtake mud, as the most preferred construction material?
Waking up to find you no longer own your home
In China, there is no compensation when the government reclaims private property.
Plan on owning your home, early in your working life
How the Dutch are coping with the housing crisis in the Covid-19 era.
Can we build 60,000 units each day?
A Rwandese dives into the African housing economic crisis and the dilemma of creating safe spaces for giving birth.
Your path to housing doesn’t have to be everyone else’s
From a trailer, to her weird and wonderful home.
Will our building code keep up with new technologies?
Most banks finance only brick and mortar structures under Mortgage facilities. For any other type of structure, they deem it to be temporary – to be financed through short-term secured loans. This is why the SACCO industry shall always thrive. Fewer questions. Faster money. Friendlier faces.
For how long will Kenyans be scammed?
Here is the list of scams; and a strong call for the government to follow through and jail pyramid scammers. Some schemes have been based on real estate models that appeared to be genuine. Listen, and learn. (July 2021)
10X finance? Stay Alert! General Elections are round the corner
Politicians say they steal from Kenyans, to return it to them during political campaigns. It is now time to be wary of where you invest your cash. These investors were promised loans equivalent to 10 times their savings. (March 2021)
Pyramid Schemes in Kenya: “Mother-in-law” and the politician is named
Yes! Even the famous actor, Mother-in-Law from Citizen TV, fell victim to these schemers. This is an experience we all may face. Some of us, indeed, have faced it more than once. Blame it on our appetite for risk. These days, the focus is mitigated risk. The politician behind it, is named.
“The mind, once stretched by a new idea, never returns to its original dimensions.”
Ralph Waldo Emerson
