‘Rural property should be accepted as collateral’

OWNERS of modern rural-based houses should be allowed to use them as collateral to acquire financial assistance, the draft National Housing Policy proposes.

The fifth draft of the Policy was presented at a one-day national consultative workshop held in the capital yesterday. It is a product of the National Housing Advisory Committee (NHAC), chaired by National Housing Enterprises (NHE) Chief Executive Officer, Mike Kavekotora.Summarising the policy yesterday, Kavekotora said legislation needed to be introduced to enable people in rural areas who have modern homes to use their properties as collateral.He said this could help boost the development of rural areas.The draft National Housing Policy also urges the Ministry of Regional, Local Government and Housing to accelerate the planning and proclamation of towns.It is a product of the National Housing Advisory Committee (NHAC), chaired by National Housing Enterprises (NHE) Chief Executive Officer, Mike Kavekotora.Summarising the policy yesterday, Kavekotora said legislation needed to be introduced to enable people in rural areas who have modern homes to use their properties as collateral.He said this could help boost the development of rural areas.The draft National Housing Policy also urges the Ministry of Regional, Local Government and Housing to accelerate the planning and proclamation of towns.