Worried by the growing housing deficit in the country, real estate experts have advocated the recapitalisation of mortgage banks in the country.
Speaking after inspecting one of the estates on Abeokuta/Sango-Ota expressway, the General Manager of Aridan Homes and Properties, Gift Akande, disclosed that with recapitalisation, the mortgage banks would be able to cater for many Nigerians, who lack the financial wherewithal to acquire a house of their dreams and to bridge the gap in housing.
Urging Nigerians to consider the option of mortgage financing to own the house of their dream, Akande noted that the option of a mortgage was far better than collecting loan sharks that put people under unnecessary pressure.
She said: “As essential as having a shelter can be, it can take a bit of resources; hence, people should go the way of mortgage financing rather than loan sharks.
“We are also in Abeokuta, Ogun State, to assist people with their housing needs. That is why we have structured our payment plans to be so affordable for everyone. Government cannot do it alone; this is the reason Aridan Homes is out there doing its bit to help bridge the housing deficit and provide quality and affordable housing for Nigerians.”
Chief Executive Officer of Entrecom Homes and Properties, Sola Ojikutu, noted poor remuneration as one major reason hindering many Nigerians from being homeowners.
She urged the government to increase the minimum wage for the workers, to cushion the effect of the economic downturn and help workers to own houses.
According to her, the mortgage facility should also be recapitalised and strengthened, so that people could pay for their properties, maybe, for about 20 to 25 years.
