EXPLAINER: The shorter home loan, the more expensive

A push to shorten mortgage terms as a cure-all for lengthy household debt risks turning home ownership into an exclusive luxury, the Bankers Association of Namibia (BAN) warned this week.

The warning comes as the government considers declaring the lack of housing and sanitation in the country a national emergency, as announced in Parliament on Tuesday by Prime Minister Elijah Ngurare.

Meanwhile, BAN shared its calculations as part of a national conversation on housing finance that argues mortgages can technically be repaid over much shorter spans, compressing repayment windows into five years.