Dear nairaland valuers and loaners , please this house below can it been use as a collateral to facilitate loan in any financial institution or bank in abuja pls your candid response is welcomed

cruzz664:
Dear nairaland valuers and loaners , please this house below can it been use as a collateral to facilitate loan in any financial institution or bank in abuja pls your candid response is welcomed

In this life, the best thing you can do for yourself is to avoid DEBT...

Yes

cruzz664:
Dear nairaland valuers and loaners , please this house below can it been use as a collateral to facilitate loan in any financial institution or bank in abuja pls your candid response is welcomed

You can use it but I think the value of that property can only qualify you max of 2 million depending on the loc of the property. To borrow money is easy but paying back is not. Think before you borrow.

Ok which bank can I go to for the loan please in abuja

FuckTheMod:

In this life, the best thing you can do for yourself is to avoid DEBT...

In this life the best thing u can do is to use debt and other peoples money to accelerate your growth.

It is this mentality that has kept us way back and financially imprisoned.

If the debt is for consumption pls,avoid taking loans.

Additionally,there are good debts and bad debts so,it depends on what u are opting for.

Good debt are used for investment so as to yield more while Bad debts, which most naira land do collect on apps and come here to disturb us for refusing to pay...all because they had used the money to eat ewedu and ofe nsala.

Continuing,debts are not totally bad as we were made to believe,example is:

I collected a loan last month worth 3.4million naira for 5years. Interest on this loan is about 1million naira. In five years @7.32% flat rate,I would make 14.9million naira in profit and pay back just 1million naira to the bank,while I go home with 13.9million.

So,tell me why debt is bad?


Back to the question.

If the property has CofO then u are likely to get a loan after some valuation must have been done,but if it's a village land...no bank would lend u money. But alternatively,if u have a bare land with economic value that has Cof O u may also be considered.

ibechris:



In this life the best thing u can do is to use debt and other peoples money to accelerate your growth.

It is this mentality that has kept us way back and financially imprisoned.

If the debt is for consumption pls,avoid taking loans.

Additionally,there are good debts and bad debts so,it depends on what u are opting for.

Good debt are used for investment so as to yield more while Bad debts, which most naira land do collect on apps and come here to disturb us for refusing to pay...all because they had used the money to eat ewedu and ofe nsala.

Continuing,debts are not totally bad as we were made to believe,example is:

I collected a loan last month worth 3.4million naira for 5years. Interest on this loan is about 1million naira. In five years @7.32% flat rate,I would make 14.9million naira in profit and pay back just 1million naira to the bank,while I go home with 13.9million..

a house as collateral?

blessedchild234:
a house as collateral?

It is not the house the bank looks at when giving out loan,but the document it carries.

Anything short of Certificate of Occupancy...no bank in Nigeria would ever grant u a loan. And most times,they will still not grant u loan with Cof O papers because of the many legal processes such as doing search to know the original owner,the encumbrance or lien on the said property,if the taxes are up to date (properties taxes I meant).

For a land in most Abuja villages ,no bank will ever grant u a loan.

Take my word for it as that is the department I worked before leavng the bank.

What else do u want to hear?

ibechris:



It is not the house the bank looks at when giving out loanumbrance or lien on the said property,if the taxes are up to date (properties taxes I meant).

For a land in most Abuja villages ,no bank will ever grant u a loan.

Take my word for it as that is the department I worked before leavng the bank.

What else do u want to hear?

ok understood.

ibechris:



In this life the best thing u can do is to use debt and other peoples money to accelerate your growth.

It is this mentality that has kept us way back and financially imprisoned.

If the debt is for consumption pls,avoid taking loans.

Additionally,there are good debts and bad debts so,it depends on what u are opting for.

Good debt are used for investment so as to yield more while Bad debts, which most naira land do collect on apps and come here to disturb us for refusing to pay...all because they had used the money to eat ewedu and ofe nsala.

Continuing,debts are not totally bad as we were made to believe,example is:

I collected a loan last month worth 3.4million naira for 5years. Interest on this loan is about 1million naira. In five years @7.32% flat rate,I would make 14.9million naira in profit and pay back just 1million naira to the bank,while I go home with 13.9million.

So,tell me why debt is bad?


Back to the question.

If the property has CofO then u are likely to get a loan after some valuation must have been done,but if it's a village land...no bank would lend u money. But alternatively,if u have a bare land with economic value that has Cof O u may also be considered.

In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

FuckTheMod:

In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

I have made more money using debt this year alone. And the last one I am yet to pay is what I used as an example here above.

Whatever u say,that is ur reality.
With good debt,I was able to make huge sums of money this year alone and that is my greatest reality and I will keep using other people's money (OPM) as a means of enriching myself.

Thank u for ur advise as I am sure u are not talking to me about debt maximusation.

ibechris:




I have made more money using debt this year alone. And the last one I am yet to pay is what I used as an example here above.

Whatever u say,that is ur reality.
With good debt,I was able to make huge sums of money this year alone and that is my greatest reality and I will keep using other people's money (OPM) as a means of enriching myself.

Thank u for ur advise as I am sure u are not talking to me about debt maximusation.

Again,
In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF.

FuckTheMod:

Again,
In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF.

U need an extensive education about money generally.

FuckTheMod:

Again,
In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF.

I think you should be asking how he got the loan facility amount with such tenor....

Doing business with OPM is the best form of business. It just the Nigerian mentality to think taking loan is a bad idea.

Most foreign companies run on loans, the likes of Donald J Trump and Robert Kiyosaki do business with loans. Even Mark Zuckerberg acquire properties for business with loans.

Summary: If you have a viable business with definite returns, by all means get a loan that suites your enterprise.

ibechris:



U need an extensive education about money generally.

Please I need a loan of 5M, I have a landed property I can use as collateral. What's the institution's name you got yours from??

obusco4lyfe:


Please I need a loan of 5M, I have a landed property I can use as collateral. What's the institution's name you got yours from??

I got it from my wife's bank.

Yes, most certainly, you can.

ibechris:




I got it from my wife's bank.

What's the name of the bank please and how can I access it....it's quite urgent

This is my WhatsApp: 07069631281

Please I need a loan of about 10m.

I have a a bungalow 2 (3 bedroom flats) and another storey building which ever value is worth the intended amount.

Please which bank can I get this loan. My number is 08165595473. This is really urgent.

Please assist to attend to this question. Thank you.

ibechris:





In this life the best thing u can do is to use debt and other peoples money to accelerate your growth.

It is this mentality that has kept us way back and financially imprisoned.

If the debt is for consumption pls,avoid taking loans.

Additionally,there are good debts and bad debts so,it depends on what u are opting for.

Good debt are used for investment so as to yield more while Bad debts, which most naira land do collect on apps and come here to disturb us for refusing to pay...all because they had used the money to eat ewedu and ofe nsala.

Continuing,debts are not totally bad as we were made to believe,example is:

I collected a loan last month worth 3.4million naira for 5years. Interest on this loan is about 1million naira. In five years @7.32% flat rate,I would make 14.9million naira in profit and pay back just 1million naira to the bank,while I go home with 13.9million.

So,tell me why debt is bad?


Back to the question.

If the property has CofO then u are likely to get a loan after some valuation must have been done,but if it's a village land...no bank would lend u money. But alternatively,if u have a bare land with economic value that has Cof O u may also be considered.

FuckTheMod:

Again,
In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF.

You are correct Dangote, Otedola, Rabiu, Elumelu are slaves they are all owing.


MTN, Glo, Nigeria Brewery, Flour Mills of Nigeria, Julius Berger, Total Energy and a lot of businesses are slaves because of their debts

MrHerrera:
Please I need a loan of about 10m.

I have a a bungalow 2 (3 bedroom flats) and another storey building which ever value is worth the intended amount.

Please which bank can I get this loan. My number is 08165595473. This is really urgent.

Please assist to attend to this question. Thank you.

Don't be desperate, what is the rental income generated by these properties. The loan you should get against the value of the property should not exceed 3 times the rental income produced by the property.

FuckTheMod:

Again,
In whatever way you see it, DEBT MAKES YOU A SLAVE!
Avoid it as much as possible.

And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF.

You're very ignorant!

The properties are in Ibadan. And each flat is rented for 250k. The storey building is where the family lives. It is bigger and more furnished.

I want to use any of the property as collateral to get loan to facilitate my travel plan.

emmanuelewumi:




Don't be desperate, what is the rental income generated by these properties. The loan you should get against the value of the property should not exceed 3 times the rental income produced by the property.

MrHerrera:
The properties are in Ibadan. And each flat is rented for 250k. The storey building is where the family lives. It is bigger and more furnished.

I want to use any of the property as collateral to get loan to facilitate my travel plan.

What is the rental income generated by the property you want to pledge as collateral.

At least, the properties generate 1 million annually.

emmanuelewumi:



What is the rental income generated by the property you want to pledge as collateral.

MrHerrera:
At least, the properties generate 1 million annually.

Should qualify for a loan of N3 million