A five‑judge Supreme Court bench dismissed Housing Finance Company (K) Limited’s application to overturn a Court of Appeal certification, thereby granting Faith Wairimu Kimeriah leave to appeal on two specific issues.

The first issue concerns whether additional legal requirements arise when a lender exercises its statutory power of sale after the borrower’s death, and the second deals with the lender’s evidentiary obligations where a loan was accompanied by an insurance policy.

The judges held that these questions transcend the parties, represent a substantial point of law and have significant public‑interest implications.

The ruling, delivered on 25 September 2026, ordered Housing Finance to bear the costs of the appeal.

Background of the dispute

The dispute originates from a Sh500,000 loan advanced by Housing Finance to the late Harrison Charles Kimeriah in 1980, secured by a charge over property in Kisembe Estate, Nairobi (L.R. No. 7793/6).

Harrison Kimeriah died in January 2005 before repaying the loan; his widow, Faith Kimeriah, subsequently challenged the lender’s decision to sell the mortgaged property.

She argued that the loan agreement included life and property insurance, yet Housing Finance proceeded with a sale reportedly at Sh10 million, far below an estimated market value of Sh150 million.

Housing Finance contended that the matter was a private commercial dispute and not of general public importance.

Implications highlighted by the Court

The Supreme Court noted that the questions raised implicate consumer protection, transparency and accountability in the financial sector.