Looking For Mortgage Opportunities In Nigeria

Hi

Does anyone have any links to mortgage service providers in Nigeria?

what are the likely charges and requirements?

Have loads of people who would be interested

phizzy, do you understand your website?   

http://www.findaproperty.com/

http://www.primelocation.com/  see how easy they are on the eye and how easy it is to get want you want 

well the site provided doesnt answer the question does it? all these real estate website don't have answers to any question apart from 'call our office'

There's nothing shakara there just simple advise to upgrade and a little bit of rant too!

if i am a webdesigner i would create my own site
so what if the sites are not naija sites- this is how we limit ourselves!

by showing him the site i am encourasging him, we don't like criticism in that country just worshipping people like dundee kmt

_{the poster is in nigeria he should know}  

UBA NRN mortgage
PRODUCT Non Resident Nigerian (NRN) Mortgage
PRODUCT DESCRIPTION The product offers credit facilities to Non Resident Nigerians for the part financing of properties in Lagos, Abuja, Port Harcourt and Enugu (for now)
Target Market Non Resident Nigerians (Employed Professionals and Self Employed Professionals) -married couples are encouraged to apply jointly
Contribution Employed Professionals (20%) and Self Employed Professionals(30%)
Obligor Limit Up to $230,000 Available in USD, GBP and Euros
 
Interest Rate Attractive  
Tenor 120Months /10 Years
Security -Legal Mortgage over property to be purchased OR over an alternative property of acceptable value as determined by UBA-approved valuer, located in any of the specified acceptable locations
-Reserve Balance(For Self Employed Professionals only)
-Other acceptable collaterals
Other Features No partial prepayment penalty
Ease of processing yea right
Services of a dedicated Relatiohsip Manager
UBA

Pity that no proper feedback has been provided about this topic, since it surely is one topic a few people would be interested in.

Mortgage financing in Nigeria is still very new, which explains the paucity of information on the topic.

We, at Geeplaces, have taken the pains to compile some information together. It is a work in progress and we'll be updating it from time to time, as we get authorisation from the banks to do so.

Here is the link - http://www.geeplaces.com/geehomes/mxml/lenders.html.

I hope it helps.

Please check out my post. I am doing research so that I will soon give mortgage opportunities to people who want to buy a home in Nigeria, both abroad and in Nigeria. The rates will be clear when I start it. But first I need to research the property market. this is only my preliminary research. I am trying to make a change!

http://www.nairaland.com/nigeria/topic-55819.0.html

Ladz,

As mentioned by Dis Guy,  UBA Plc has a mortgage product for Non Resident Nigerian (NRN Mortgage) with a limit of $400,000 US. The interest rate is based on 180-days LIBOR + 2% and is currently 7%. It is recalculate every 6 months.

My company Marvel Mortgage Company is a partner of UBA on this product. We do all of their pre-qualification.  You have to be a Nigerian with resident outside Nigeria to qualify. If you need more information email me at nrnloan@marvelmortgageco.com. Please reference Nairaland in your email

We are currently working on our web site that will provide more detail information.

God bless you DJNiyi.

Mortgages are readily available in Nigeria, am speaking from experience, i got my through a friend who work for Abbey, u can contact Ms. Folashade ONANUGA for more information on 08027480677 or shade40@hotmail.co.uk, all the best. God bless nigeria.

Folashade ONANUGA   

 www.fisrtcitygroup.com
www.diamondmortgages-ng.com

 see bankPHB/UBA  offers.
Good day Ifeanyi,

 

 

Thank you for contacting the UBA customer interaction center.

 

In response to your enquiry, the requirements are below. If you are interested, do visit the nearest UBA Business office for application.

 

Home acquisition.

 

§        UBA finances 80% of purchase price

§        Min amount =N=1m

§        Single obligor limit:

Ø     Lagos =N=70 m

Ø     Other locations =N=40m

§        Maximum tenor of 20 years

§        Home loan protection insurance from insurance company acceptable to UBA naming UBA as first loss payee and co-insured

Interest rate is 17%

 

Requirements

§        Current or salary account with UBA

§        Letter of introduction/awareness from employer

§        Vendor’s offer letter

§        Title document to the property or undertaking by developer, vendor’s solicitor, banker or estate agent to submit valid title documents directly to UBA

§        Copy of approved building plan

§        Satisfactory search report

§        Valuation report accompanied by photograph of property

§        Equity contribution of at least 20% of total cost

 

Land Acquisition.

§        UBA finances 80% of purchase price

§        Min amount =N=1m

§        Single obligor limit

Ø     Lagos =N=40m

Ø     Other locations =N=20m

§        Maximum tenor of 10 years

§        Home loan protection insurance from insurance company acceptable to UBA naming UBA as first loss payee and co-insured

 

Requirements

§        Current or salary account with UBA

§        Letter of introduction/awareness from employer

§        Vendor’s offer letter

§        Title document to the property or undertaking by developer, vendor’s solicitor, banker or estate agent to submit valid title documents directly to UBA

§        Survey plan

§        Satisfactory search report

§        Valuation report accompanied by photograph of the land

§        Equity contribution of at least 20% of total cost

 

Home construction and renovation.

§        UBA finances 80% of purchase price

§        Min amount =N=1m

§        Single obligor limit

Ø     Lagos =N=70m

Ø     Other locations =N=40m

§        Maximum tenor of 20 years

§        Home loan protection insurance from insurance company acceptable to UBA naming UBA as first loss payee and co-insured

 

Requirements

§        Current or salary account with UBA

§        Letter of introduction/awareness from employer

§        Copy of land title in the name of the borrower

§        Copy of Approved Building Plan

§        Copy of Bill of Quantity and breakdown of construction into phases

§        Construction timetable

§        Valuation Report of property if there has been development accompanied by photographs

§        Equity contribution of at least 20% of total cost

 

 

Home refinance.

§        Allows customer to transfer home loan from another bank or financing firm to UBA

§        UBA finances 80% of the current market value

§        Min amount =N=1m

§        Single obligor limit

Ø     Lagos =N=70m

Ø     Other locations =N=40m

§        Maximum tenor of 10 years

§        Home loan protection insurance from insurance company acceptable to UBA naming UBA as first loss payee and co-insured

 

Requirements

§        Current or salary account with UBA

§        Letter of introduction/awareness from employer

§        Letter from current mortgage provider stating outstanding loan balance and title documents in their possession.

§        Revaluation report accompanied by photograph of property

 

 

For more enquiries, complaints and suggestions on UBA product and services please do not hesitate to contact me.

 

Thank you.

 Summary of BankPHB House Owner’s Advantage
The product affords house owners and opportunity to raise funds up to 50% of the capital value of their properties subject to the capacity of their income to service the desired loan amount. The features of the product are as follows:

§   Obligor Limit: N150 Million (Properties in Lagos); N75 Million (Properties in Abuja and Port Harcourt). This is the maximum amount an individual customer can access. This is however subject to 50% of the value of the property and the customer’s capacity to service the facility.
§   Tenor: Maximum of 7 Years subject to obligor’s number of years before retirement.
§   Equity: Nil
§   Pricing: Interest Rate – 17% per annum, Mgt fee – 1.5% payable semi-annually, Processing fee – 0.25% one off.
§   Repayment: Equal monthly interest and principal repayment from the obligor’s income through out the tenor of the facility.
§   Security:  (1)  Legal Mortgage over the property
(2)  3 months principal plus interest payment to be held in a reserve balance through out the tenor of the facility. (For Self employed customers only)
Documentation Requirements
§   Duly completed mortgage loan application form.
§   Copy of the Title Documents to the Property (title must be in obligor’s name)
§   Search report on the title to the property (to be carried out by the bank’s appointed solicitor at the expense of the obligor)
§   Valuation Report on the property ( to be carried out by the bank’s approved estate valuer at the expense of the obligor)
§   12 Months Statement of Accounts and/or Letter of Introduction from Obligor’s employer stating income details (for salary earners)
§   12 months statement of Accounts and Business Profile (Self Employed Customers)
§   Deposit of Original Title Document to the Property ( to be deposited with the bank upon approval of the facility)

SELECT SURBURBS FOR HOUSEOWNER’S ADVANTAGE
Lagos   Port Harcourt   Abuja
1.   Lekki Axis (excluding Ajah and Jakande Houses)2.   Victoria Island3.   Ikoyi4.   Gbagada (Phase 1 & 2)5.   Omole (Phase 1 & 2)6.   Ikeja G.R.A7.   Ogudu G.R.A8.   Apapa G.R.A9.   Ilupeju10.   Magodo   1.   Port Harcourt G.R.A2.   Woji 3.   Trans Amadi Flats4.   Rumuibekwe   1.   Wuse2.   Garki3.   Maitama4.   Asokoro5.   Gwarinpa

Plots of lands available in NICON Town  & CarltonGate Lekki  for  development on BOT basis. Interested parties should contact rehobothwell@yahoo.com.

i would like to meet the guy from UBA wey dey speak grammar. He need to explain to me how one can get a mortgage loan without a security. To get only 1m for business from them bank na wahala even with my shares as security.

my mail is
akinpure@yahoo.co.uk

i work with Jubilee-life savongs & loans ltd a seasoned mortgage bank well recognized by Federal mortgage bank in Nigeria, call me on 08054465721, sure you wont regret doing mortgage with us, we offer mortgage at 6% p.a, for maximum of 30 years, access your NHF through us, its our primamry responsibility to the Nigerian populace. You can also visit Jubilee-Life Savings & Loans Ltd, 40 Allen Avenue, Ladipo B/Stop, Ikeja Branch. Lagos Nigeria. We have Estates in Progress in Lagos, Calabar, Ijebu-Ode, Akure, Mowe, Lagos-Ibadan express way, Abuja, Ibadan,
Always ask of when you come visiting.

Oyetola
08054465721
oyemaiya@yahoo.com
Restoring your hope of becoming a landlord