please does anyone know how i can obtain a mortgage loans in Nigeria? any contact of company\banks , will be appreciatable ,
hope to hear from you all.

You might find this useful - http://browse.com.ng/blog/PropertiesRealEstate/PropertiesNigeria/_archives/2007/2/12/2729359.html

Hello,

UBA has a mortgage program specially designed for Non Resident Nigerians (Nigerians with residency outside the country) who would like a loan to finance their properties in Nigeria. This program is called NRN Mortgage (Non Resident Nigerian Mortgage).

My company, Marvel Mortgage Company performs pre-qualification of prospective borrower for UBA. If anyone needs more information, email us at [email]nrnloan@marvelmortgageco.com[/email]. Please reference Nairaland in your email.

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

The NRN Mortgage program details are:

[table]
[tr][td]Target Market: [/td][td]Non Resident Nigerians[/td][/tr]
[tr][td]Loan Use:[/td][td]House purchase. Off-plan purchases and Land purchase in selected cities (Lagos, Abuja, Port Harcourt and Enugu)[/td][/tr]
[tr][td]Loan Amount: [/td][td]Up to $400,000 US[/td][/tr]
[tr][td]Interest Rate: [/td][td]Currently set at 7%. It is based on 180 Days (6 month) LIBOR (London Interbank Offered Rate) plus 2% adjusted every 180 Days.[/td][/tr]
[tr][td]Terms: [/td][td]120 Months (10 years)[/td][/tr]
[/table]

regards

All the banks have mortgage products/loans for qualified customers,

the challenge is their interest rate, the least is about 20% and some take as much as 24%,

YOu will need to provide up to 30% equity (some take 20%) and the property must have a good title which they will verify at your cost, Duration ranges from 7 - 15 years,

UBA & Diamond bank etc have mentioned ranges of 13% and saw 7% somewhere
(can't remember exactly ? diaspora gtb).

Could you review your information, please

Interest Rate: Currently set at 7%. It is based on 180 Days (6 month) LIBOR (London Interbank Offered Rate) plus 2% adjusted every 180 Days.

Potential applicants must be careful about the variation of LIBOR (London Interbank Offered Rate). It would have been better if it is based on the Bank Of England Base Rate which is currently 0.5% and it does not increase without control because it tracks economic conditions.

LIBOR rates normally apply to people with bad credit history and it can increase abruptly, regardless of economic conditions.

Anybody knows the bank (banks) with BEST rate and CONDITIONS