Solving Nigeria’s Mortgage Crisis: The Role of FinTech
According to experts, there are growing opportunities in unlocking the potential of Nigeria’s mortgage sector valued at over N6.4 trillion but lack of awareness, accessibility, security, lack of infrastructure and government policy are dampening demand. The mortgage sector in Africa’s biggest economy, according to them, is grappling with the high cost of construction, surging […]
How To Secure A Mortgage Loan In Nigeria
Most people don’t have enough funds to finance their property acquisition or home construction projects in one go. Often, they’ll rely on the income that comes to them over time; this could mean that it’ll take several years to complete the purchase of property or building project. Read more about Real Estate But if […]
Helpful Tips: What You Must Know About Mortgages
So you are probably keen on real estate and don’t know how it will even come about because the gap between your savings, income and how much you need for a home is just a bit too wide. That is if you are aiming to buy property in Nigeria. Mortgages are not a popular tool […]
Brands We Love: Wapic Insurance
Nigeria’s insurance sector has grown by leaps and bounds in the last decade. This growth is being driven by members of the country’s expanding urban working class, who are becoming more aware of the need to hedge against financially demanding situations that may arise in their future lives. But it’s also been sparked by insurance […]
U.S. Firm, NMRC Sign MoU for $1 Billion Investment in Mortgages
Cantor Fitzgerald, a renowned investment company based in the United States of America, has recently signed a memorandum of understanding with the Nigeria Mortgage Refinance Company (NMRC) for $1 billion (about N200 billion) in mortgages in a bid to broaden the Nigerian housing market. The global investment firm with strong expertise in asset-backed mortgage securities, […]
Governor Fashola Launches Affordable Mortgage Home Scheme in Lagos
Lagos State Governor, Babatunde Fashola, has inaugurated the Lagos Home Ownership Mortgage Scheme (HOMS), which is aimed at providing affordable housing for residents in the state. During the ceremony on February 3rd, the governor stated that the home scheme is structured in a way that it enables buyers to pay back within a period of […]
The 8TH International Housing Finance Workshop In Abuja.
In the past 18months, house prices have managed to stabilize in the middle to high income categories while it has experienced an average increase of about 15% in the low income categories. Interestingly none of these market dynamics can be attributable to the mortgage finance market. Rather construction financing is at its low, and the quest for survival by both commercial and mortgage banks have almost brought the housing finance market to a halt.