Mortgage Finance

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…

Lagos-based firm, Eliel Jerahmeal Nigeria Limited has entered into partnship with one of the leading elevator company, Xizi Elevator, to promote industry user and affordable rate.

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).

Following plans to introduce a public private partnership scheme that seeks to increase access to housing finance, the Central Bank of Nigeria (CBN) has selected 34 primary mortgage banks and four commercial banks to stimulate housing finance for low-income earners in the formal and informal sectors.

Gearing up for a veritable funding source for the sub-sector, mortgage operators have moved to explore the suitability, applicability and the possibility of adopting the non-interest mortgages to unlock the potentials of the Sukuk model.

Hopes of realizing the mortgage-backed housing dream brightened recently, following the adoption of the Nigeria Mortgage Refinance Company (NMRC) pioneered draft model mortgage foreclosure law by four states in the country.