Firm Promises To Transform Housing Sector

A Mortgage Finance Firm, the UT Financial Services Limited has said that it is coming into the property market in the South-South, particularly Port Harcourt and  its environs to add value that will bring real transformation in the housing sector in the state.
The Chief Executive Officer (CEO) of the company, Ade Adebajo disclosed this to aviation correspondents at the Port Harcourt International Airport Omagwa recently and noted that the present state of property market has not actually addressed the difficulty in people accessing loans for mortgage.
He said that the company is one of the leading financial services providers in Nigeria, with offices in Lagos and Abuja and is being regulated by the Central Bank of Nigeria (CBN).
According to him, the UT Financial Services supports Small and Medium Enterprises to help them grow by giving out loans to enhance their businesses and that the company has also now ventured into housing to give loans for mortgage and housing development by corporate organi-sations  and individuals.
Adebajo said that the company is already arranging for a prime location in Port Harcourt where they can acquire to commence building of homes and give out at moderate prices, through UT homes scheme already in operation in Abuja and Ghana.
“Our target is the low and medium income earners, like the teachers, civil servants and those that have small business, and our mortgage period is for 10 years.
“What stands us out is that our rate is the lowest so far  and we try as much as we can to ensure that our rate is very low so as to minimize default.
“We are not targeting the high income earners and we also engage with government by providing finance to execute government projects or source for loan for government projects to be executed,” he said.
The firm chief executive however promised to cooperate with the state Government in its efforts in adding value to the existing status of the housing sector in the state to bring about transformation.

Corlins Walter