Estate Professional Wants Effective Mortgage System

Worried by the increase in the number of people that do not have their own homes in Port Harcourt and its environs, particularly among the working class, an estate surveyor and Valuer in Port Harcourt, Emma Wike has urged the Rivers State Government to evolve a mortgage system in the state that will enable people own houses.

Mr. Wike who was speaking at a forum in Port Harcourt, organised by the Ministry of Housing recently, noted that the present mortgage situation makes it difficult for the people to own their homes, since houses were difficult to get.

According to Mr. Wike who is the principal partner of Emma Wike and partners, and the chairman, Nigerian Institution of Estate Surveyors and Valuers, (NIESV) Rivers State, “everybody needs a house, and the ministry of housing is an important one and will play a vital role in this regard”.

He noted that mortgage is very vital in housing development and that for people to own homes, a good and effective mortgage system was necessary.

The NIESV also solicited for the corporation of other professionals in the built environment towards ensuring that the industry was well organised, so as to support government to deliver houses to the people.

Wike posited that a good mortgage system will not only guarantee easy access to funds for housing development, but that when the majority of the people that demand houses, own their own homes, rent will drop.