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Blueroyal
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LETTER OF INTRODUCTION
FHT Ventures, Plc (Promoters of Blue Royal Sites & Services) is a Multi-disciplinary Group of Consultants and Developers base in the FCT Abuja. We have a well designed drawn out Mortgage Based Housing Scheme for civil servants and the general public alike.
Our Services:
1. Prime sites at various locations within the Federal Capital Territory that will be developed into housing units for Civil Servants and the General Public.
2. Various types of single-family detached and semi-detached housing design to choose from.
3. Our design includes 2, 3, 4 and 5 bedrooms bungalows and duplexes to choose from.
4. Low monthly payments on all mortgage loans.
5. Our Overseas Professional Technical Partners will provide state-of-the-art designs that meet international standards.
6. We provide all infrastructures in all estates and satellite towns for conveniences of our beneficiaries.
7. Our goal is to provide Affordable and Decent houses for all income earners.
8. We enjoin your members to subscribe to this scheme and in matter of a few months they will have their keys to their houses in their hand. Early subscription will afford you the opportunity to enjoy some special privileges.
9. An arrangement has been concluded in Partnership with Banks to assist the members of your Staff with the Land Commitment Fees within 12 Months. Attached is the letter from Intercontinental Bank.
The locations of our building sites within F.C.T are as follows:
(a) KADO-KUCHI(Opposite PHCN Housing Estate)
(b) LIFE CAMP(Gwarimpa- Kafe)
(c) GALADIMAWA( Opppsite Sun- Valle Homes)
(d) GALADIMAWA(Opposite Sun-City Housing Estate)
And suburb sites are: Mararaba, New Karu and Masaka. Thus more Sites are being negotiated with the Services providers, you will be informed accordingly.
Our mortgage based program is in line with other programs in other developed countries like the UK, Canada and the United States of America with a fixed single digit interest rate of 6%. A one-time mortgage commitment fee of between Three Hundred Thousand to Three Million Naira (depending on the design of house chosen by a beneficiary) is required at the early stage of our program as a sign of commitment prior to commencement of building the house.
For further details and more enquiries on this, please call the Executive Chairman, Prince O. A. Adewa-Faboro on the following numbers: 08039206743; 08023445403; 08056921117.
We sincerely thank you for taking time out of your busy schedules and humbly await your response.
Yours faithfully,
Prince O. A. Adewa-Faboro
Executive Chairman
FHT Ventures Plc
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brownbonno (m)
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This is a briliant idea.
The down side is the involvement of foreign partners on the design which will attract foreign exchange and eventually the overall cost.
I am sure this is not a part of the Wonder Bank arrangement,because a''A one-time mortgage commitment fee of between Three Hundred Thousand to Three Million Naira (depending on the design of house chosen by a beneficiary) is required at the early stage of our program as a sign of commitment prior to commencement of building the house'' scarced me.
I wish you the best as i hold on my breath to my hard earned £.
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Blueroyal
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@Brownbonno,
You have nothing to be scared of. The prices of our houses are very cheap compared to that of other major developers in Abuja, and there is no need to exercise fear over price rises. The prices we offer you on your property today is what you pay, on a simple interest of 6% payable between 10 to 30 years.
Concerning the commitment fee, the prices are fixed as well but is dependent on area. As you may or may not know, the price of a property in Abuja depends on the location.
this is how the commitment fee works,
Masaka area commitment fee is N100,000
New Karu (Satelite town) N300,000
Kado (city centre) N1,500,000
There are more areas, and the commitment fee differs as well but the price of the property is the same. Please feel free to ask any further questions
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brownbonno (m)
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Thanks for your explanations.But my concern still remain with my original comment.
The Nigeria factor of catching one into the deal make the scenario mucky.
Firstly,Your commitment fees is tied to the location and not the property.
Secondly,the commitment fee is an advance payment that is not deductable from the entire price of the property.
Logically,if a mortage is going to be secured on the property,what you should possibly ask for should a deposit and not an unrefundable commitment fees.
I am sure the spirit of 419 will linger for a long time in the mind of Nigerians.
Please try and redesign your strategy and let some of us interested in investing in Nigeria to be encouraged.
Thanks any way for your efforts.
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naijaking1
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Dear Prince,
Is committement fee the new name for 419?
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brownbonno (m)
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I am sure the FHT Ventures Plc is a registered business entity.And if the terms of trade are unfavourable to her customers a body is suppose to intervene.Like in the UK we have the OFT(Office of Fair trade).If such organ exist in Nigeria they should help to regulate these mucky business initiatives.
Commitment fees as the name implies is an advance fees and it should be looking at within the Advance fees acts(decree)419.
Since the OP did not mention that this fees is deductable or regarded as a deposit.Then the equation is easy and balanced to a 419 scam.
EFCC should investigate to avoid further damage of Nigerians image among Nigerians.
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lilian10
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@Blueroyal
Saw your company flyers during the week and spoke to one of your marketing officers and would need clarification on a couple of unanswered questions.
1. Do you have structures on ground anywhere in Abuja? if no, how do interested know the structure or property quality before they commit to the 1.5M land commitment fee?
2. I was told i would have to pay 2.5M for the kafe land if i intend to build on my own. Would i have to build to your specifications or plan?
3. Your structures i hear would be prefabriacted.What kind of prefabricated materials would be used.
Kindly also put up your office address on the forum.
Thanks
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Blueroyal
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@all, sincere apologies for not replying to your comments earlier than now. @Brownbonno, i think it would be better for you to contact us on our phone numbers so we could make some issues clearer to you. I'm very sure we have never mentioned the words "non-inclusive and unrefundable" as regards the commitment fee. Local banks are constantly contacting us offering to pay the commitment fees if our subscribers do not have it, I'm sure they did their homework before partnering with us. Terminologies seem to be the source of confusion here, the commitment fee is more or less a deposit/ part-payment or rather land cost for the chosen property, it is inclusive of the total amount you are paying for any of our properties. For example, a 2 bedroom flat at Kado-Kuchi:Toal would be 4Million naira commitment fee: 1.5M (loan can offered by Intercontinental bank) Property price : 2.5M (Up to 30 years by mortgage) On an average, a 2 bedroom flat from our competitors can be up to 6.8million in the same areas Since you are familiar with mortgages in the UK, then consider our commitment fee as the 10-30% down payment you are normally required to make when purchasing a property on mortgage in the UK. But then consider the fact that housing in Nigeria is quite different from western countries, here are normally required to buy land and build on your own. @lilian10, i am glad you have already spoken to one one of our marketers. please send us your name and phone number by email and we would give you a call to clarify all issues. Our head office is at No8b Amurie Omanzie Street,by old CBN, Garki 2 Abuja. phone numbers 09-7802886,09-7803121 Wuse office: Suite 15, kaku plaza,kikuyu close, Near AMAL court, Wuse 2 Abuja Email: fhtventuresplc@yahoo.com, info@blueroyalsites.comWebsite: www.blueroyalsites.com |
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brownbonno (m)
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Hi
Are you a developer or a broker ?
If you are a developer,get a better deal from your financiers that will make your estate business a success.In the example you gave,you requesting 1.5m as a commitment fees(ie 37.5 % of the mortgage sum).
If your a broker,i think you need a better understanding of terminology and translations in advertising.Otherwise you may not be able communicate effectively with your audience.
I hope you get a better deal(clear and transparent)
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Blueroyal
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@brownbonno.
Thanks for your prudent advise Sir. I see that you have calculated the percentage of the commitment fee of the 2 Bedroom on the total price of the property and you have arrived at about 37%. However, be aware that 1.5m is not 37% the total price of the other housing units. i.e. # Bedroom- 5 Bedroom.
we arrived at this price because we wanted a uniform commitment fee for properties within Abuja metropolis irrespective of size and total price. Thank you
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brownbonno (m)
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I wish you the best in your business.I may patronise you if you can send me details of your locations.
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mi1 (m)
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Good day Mr Blue royal.
I am interested in your properties, especailly in Kado,
But what are your mortgage arrangements?
I am a civil servant contibuting to National Housing fund, wil i be covered by the NHF facility
for your estate.
Secondly the 1.5m coittment fee. You were saying that Intercontinnetal Bank can provide the Money. Plz can you explain further the payment details by the Bnak, and how long can I pay back the bank loan e.g like 24 months or 5yrs etc.
Also what if i hav 1 Million can i still be eligible for the commitment fee?
plz i will like to know more.
cheers. waiting 4 your reply/
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LoanBroker
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@Blue Royal,
I am interested in your property in Abuja. However, I will like to find out when the properties will be ready (estimated date of completion) for each development in Abuja.
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