Introduction To Housing Loan Providers In Nigeria
Housing Loan Providers: Taking out a housing rent loan generally occurs in conjunction with purchasing a home. A housing rent loan is a fund that advances all or part of the cost of housing. This form of loan is also appropriate if you wish to purchase land with the intention of building a house or if you are planning home renovations. Many organizations and institutions in Nigeria provide this form of financing.
Many house rent loan providers in Nigeria differ in terms of lending rates, loan periods, and the guarantees necessary in the case of insolvency.
This is why, in order to avoid an unfavorable loan agreement, it is important to find the correct housing loan provider. We have compiled a list of the top ten housing loan companies for you to pick from.
Top 11 Housing Loan Providers In Lagos – Nigeria
1. Sofri
Sofri is powered by Links Microfinance Bank and is exclusively dedicated to meeting your financial requirements. Sofri is responsive, adaptable, and dependable. Welcome to a world of convenience and comfort.
At Sofri, it’s not just about the loans but about making it easy to not only repay the loans back but to make banking with us seamless and simple.
Sofri offers you the luxury of opening a bank account via your mobile phone while using our mobile app, without the need of ever visiting any bank. You can also carry out online transactions even if you are using an iPhone (using the scan me bar code on the website). You can also apply for an ATM card directly from Sofri website for any online transactions. You can use the Sofri account number for the same purpose as you use other commercial banks’ account numbers.
An additional benefit you get is you can apply for a loan directly from the mobile app without ever having the need to fill out excessive long paperwork. At Sofri it’s all about convenience and ease of living.
Sofri offers a variety of loans services, some of which are as follows:
If you want to learn more about how our salary loan and how works, Take a look at this comprehensive article that explains how it works and how to get started.
2. First Trust Mortgage Bank
FirstTrust Mortgage Bank Plc is a major mortgage bank formed by the 2019 merger of First Mortgages Limited and TrustBond Mortgage Bank Plc. In addition to a robust capital foundation and assets in excess of $20 billion, FirstTrust has over 100 years of combined managerial expertise in delivering mortgage and real estate finance solutions.
3. Platinum Mortgage Bank Ltd.
Platinum Mortgage Bank Ltd was incorporated in 1992 with the Corporate Affairs Commission to provide savings, loans, and home ownership services, and it is licensed to provide mortgage banking services in Nigeria by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria under CBN Decree 24 of 1991 and FMBN Decree No. 53 of 1989, respectively.
Platinum Mortgage Services provides the following mortgage products:
Platinum Fast-Track Mortgage: This allows prospective homebuyers to gain access to their desired property as soon as 48 hours after submitting an effective expression of interest.
4. Abbey Mortgage Bank PLC
Abbey was founded on August 26, 1991, and was licensed as a principal mortgage institution (PMI) by the Central Bank of Nigeria on January 11, 1992. Full commercial operations began on March 11, 1992.
Abbey began with a $5 million authorized share capital and now has a $2.1 billion share capital. Abbey has access to the Nigerian Mortgage Refinancing Company (NMRC) money for lending to consumers.
5. Infinity Trust Mortgage Bank Plc
Infinity Trust Mortgage Bank Plc was founded on January 28, 2002, as Infinity Trust Savings & Loans Limited. However, it began operations in Abuja in 2003.
On January 25, 2013, the bank was transformed into a Public Limited Liability Company and had to alter its name to Infinity Trust Mortgage Bank Plc.
It became a National Mortgage Bank in 2014. The bank now owns a stake in the Nigeria Mortgage Refinance Company (NMRC). It provides the following mortgage products:
6. Mayfresh Mortgage Bank Ltd
Mayfresh Mortgage Bank Ltd was founded on October 22, 1993, and received its mortgage banking license from the Federal Ministry of Works and Housing on April 27, 1995.
As of December 31, 2016, it has an Authorized Share Capital of N5 billion, Paid-Up Capital of N3.64 billion, and Shareholders’ Funds of N6.62 billion.
7. Jubilee-Life Mortgage Bank
Jubilee-Life Mortgage Bank Plc. was established in August 1992 as a private limited liability company. Jubilee-Life Mortgage Bank Plc. arose from a kingdom mandate by the Redeemed Christian Church God (RCCG) with a vision to assist with the expanding housing demand.
The bank has received various accolades, including Most Reliable Mortgage Bank of the Year 2017, Integrity in Mortgage Business of the Year 2017, and others.
The bank conducts retail banking operations by accepting savings and term deposits, mortgage-focused deposits, mortgage finance, mortgage advisory services, borrowing from mortgage funds for on-lending, and other financial activities as authorized by the Central Bank of Nigeria.
Jubilee-Life Mortgage Bank Plc. has sponsored hundreds of significant low-cost housing projects/small to medium enterprise projects across the country, including Lagos, Abuja, Port Harcourt, Oyo, and Ogun, to name a few.
8. ASO Savings & Loans PLC
ASO Savings & Loans PLC is a Primary Mortgage Institution (PMI) that was established in Nigeria as a limited liability company on November 9, 1995. The PMI formally began operations on January 2, 1997, and was transformed into a public liability company (PLC) on September 22, 2005.
ASO is licensed to do mortgage banking in Nigeria by the Central Bank of Nigeria under Mortgage Institution Decree No. 53 of 1989.
9. Haggai Bank
In 1994, Haggai Bank was founded as a financing corporation. Haggai Bank became a mortgage lender in 2008. Mortgage options are available from Haggai.
Possess a Haven.
Mortgage for Haggai House Completion.
Haggai Home Improvement Loan
Haggai Home Loan
Rent Loan in Haggai.
Home Account at Haggai Camp
Haggai Plot Development.
10. Imperial Homes Mortgage Bank Limited
The Central Bank of Nigeria has licensed Imperial Homes Mortgage Bank Limited to provide mortgage banking and related services. Citizens Savings and Loans Limited was the name under which it was founded in 1992.
In January 2008, Imperial Homes Mortgage Bank Limited began operations.
Imperial’s principal business is the provision of cutting-edge housing and mortgage
11. FHA Mortgage Bank Ltd
In June 1997, FHA Mortgage Bank Ltd, a Primary Mortgage Institution, was established.
FHA Mortgage Bank Ltd has been strategically positioned to provide mortgage facilities to individuals and corporate bodies.
For the acquisition, renovation, and development of residential, commercial, and industrial properties, while also acting as an agent of the Federal Mortgage Bank of Nigeria (FMBN) in the management of the National Housing Fund Facility (NHFF).
It is critical that you completely comprehend the loan agreement when selecting a home loan provider for your housing project. Do not rush to obtain the loan.
