Business
FMBN Floats N48bn Housing Loan
The Federal Mortgage
Bank of Nigeria (FMBN) has floated a N48 billion housing loan to prospective applicants in abid to offer succour to homeowners.
In a statement the apex Mortgage bank disclosed that its managing Director, Mr Gimba Ya’u Kumo announced the new funding recently during the workshop for operators of primary mortgage Banks in the Country.
Kuno Stateed that the amount is coming on the heels of the previous sum of N52.8 billion earlier released to some beneficiaries across the country in August 2014 over the National Housing Scheme.
He said in collaboration with the Nigeria Deposit Insurance Corporation measures have been taken to check against failures by Primary Mortgage banks (PMBS).
He urged stakeholders to assist the bank to achieve its aims of safeguarding depositors funds, stressing that the country has a total of 77 Licensed primary mortgage banks with some operating as regional while others operate as national while others operate as national institutions with capital bases of N2.5billion and N3 billion respectively.
According to him, most of the mortgage banks are performing the traditional roles of conducting universal service delivery in the industry as opposed to the modern practice in other climes where PMBS specialize in specific aspect of the value Chain such as collection of repayment, risk management or fund syndication or management.
Philip Okparaji
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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