Mortgage Finance

Two leading pan-African investment and real estate firms - African Capital Alliance and Elalan Group have announced plan to deliver a blend of contemporary luxury apartments and state of the art retail mall in Lagos.     Group Managing Director, Elalan Group, Andrea Geday, who spoke about the project over the weekend said the group was…

The housing sector is one of the indices for measuring the standard of living of people across societies. It also plays a more critical role in a country’s welfare than is always recognised, as it directly affects not only the well-being of the citizenry, but also the performance of other sectors of the economy. Consequently,…

Chevron Peninsula Twin Lake Estate Multi-Purpose Cooperative Society, PTMCS, has awarded contract to build 70units of terrace houses on four floors to Construction Kaiser Limited (CKL). CKL came top, after a series of bidding process spanning over three years with both foreign and indigenous companies. The groundbreaking ceremony for the construction works has been held…

A new special purpose investment vehicle - Family Homes Funds (FHF) plans to support the development of over 500,000 homes and 1.5million jobs for the low income earners by 2023. FHF have the Nigerian Sovereign Investment Authority and the Federal Ministry of Finance Incorporated as founding shareholders. Through International recruitment firm – PriceWaterHouse Coopers, the…

The Managing Director/Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Ahmed Musa Dangiwa has been named 2018 Mortgage Finance Person of the Year in the male category.

One of Nigeria’s premier mortgage banks, Safetrust Mortgage Bank Limited has posted over N2 billion in gross earnings for last year.According to results recently published in the bank’s annual report and financial statements, the profit after tax was N307 million, an increase of 683 per cent above the 2016 profit after tax.

The State Commissioner for Housing, Prince Gbolahan Lawal, who disclosed this figure at the hand -over ceremony of keys to 150 allotees, said the policy was targeted to all Lagosians to have access to decent and affordable housing.

Amid cconcerns that some contributors to the National Housing Fund (NHF) have not been able to access loans, the Federal Mortgage Bank of Nigeria (FMBN) has assured Nigerians that the amendment of the enabling legislations in the scheme would make it more robust and beneficial. Accordingly, the bank explains that the objective is to expand…

All lettings agents in England will need to be members of a Government approved Client Money Protection Scheme by the beginning of April next year, it has been announced. The industry welcomed the announcement and various organisations said that mandatory membership of a scheme is an important step forward in terms of tenant protection. The…

After an initial effort that eventually turned out to be a ‘false start’, a fresh move to facilitate the mobilization of fund for the provision of houses for Nigerians at affordable prices may be in the offing.

In its determination to guarantee affordable housing to Nigerian workers, the Federal Mortgage Bank of Nigeria (FMBN) has vowed to remove equity payments in its completed...

To assist Nigerians buy their own homes, the Federal Mortgage Bank of Nigeria (FMBN) has issued 2,724 mortgages worth N20.237 billion to subscribers under the National Housing Fund (NHF).   Minister of Power, Works and Housing, Babatunde Fashola who made this known at the inauguration of newly reconstituted board of the Federal Mortgage Bank of…