The Lagos State Government on Monday said it had introduced the Rent-to-Own Policy to support the Lagos Mortgage Scheme for home ownership in the state.

The Commissioner for Housing, Mr Gbolahan Lawal, said at a ministerial news conference in Ikeja that the scheme had already become effective.

Lawal said that the policy was aimed at making housing more accessible and affordable, particularly to medium and low income earners in both informal and formal sectors.


According to him, individuals, under the arrangement, are required to pay five per cent of the value of the housing unit as commitment fee.

He said that the remaining payment would be spread over 10 years at six per cent interest rate.

http://www.metronaija.com/2016/04/ambode-introduces-rent-to-own-house.html

cool development! (FP)

Make I build my own house here

Hope another govt will not change the policy in future esp if it is an opposition party.

APC+AMBODE=LIES

We wuldnt fall for this like we fell for Jona Subsidy scam

This is an interesting development however, politicians will gather themselves and be the ones to benefit from the whole scheme.

I pity poor people abi low income people... I wonder who will help them get the houses.

So pessimistic even good news sounds bad

Rubbish policies targeted at < 0.0000001% of Lagosians.

An average man without due connections can NEVER enjoy any scheme from the Lagos State Government.

Who would dis EPP??

This would make a lot of sense if truly implemented and not just opened to a group of people who in turn resell.

k

This is the kind of news i expect to hear.

if only it won't be hijacked by those that already own houses all over the place.

EndTime Housing Policy!! I hope they won't later deny it, but if its true, e go Epp.

Bastards, sonsofbitc.hes, so if i cant pay for like a month or two, i've forfeited it all. All the money av been paying since abi? Its bcuz of people like you, people like me are made. You'll be assasinated you and all your cohorts, tinubu. Buhari, ajimobi ,tokyo ,buratai e.t.c You are dead men.. Deadmen... Dead men alive.
The vigilante has spoken

In other words, u own a house and own a bank loan!!!
Who Ambode epp

Hmm

Cool

Ao dat one take karry F.A cup for MAN U..

Hmmm dis 1 good ooo rent and own a house..

His Edo state counterpart, Oshiomole is more concerned about land use charge even when he has not layed a single foundation on housing scheme

Hope the policy will not be burdensome to those that embrace it?

This is good if they will allow the masses to subscribe to it

6% banks will not like this

it exist on paper abi?

which houses

gabylzy:
APC+AMBODE=LIES

We wuldnt fall for this like we fell for Jona Subsidy scam

Stop being pessimistic and use your God given intelligence.

Where are the houses?

ceometromedia:
The Lagos State Government on Monday said it had introduced the Rent-to-Own Policy to support the Lagos Mortgage Scheme for home ownership in the state.

The Commissioner for Housing, Mr Gbolahan Lawal, said at a ministerial news conference in Ikeja that the scheme had already become effective.

Lawal said that the policy was aimed at making housing more accessible and affordable, particularly to medium and low income earners in both informal and formal sectors.


According to him, individuals, under the arrangement, are required to pay five per cent of the value of the housing unit as commitment fee.

He said that the remaining payment would be spread over 10 years at six per cent interest rate.

http://www.metronaija.com/2016/04/ambode-introduces-rent-to-own-house.html

BREAK-IT-DOWN please in terms of Naira!

What a great idea. That's ofcourse if it works

Nice dev

The rich will hijack it and never allow the poor to come close.

ceometromedia:
The Lagos State Government on Monday said it had introduced the Rent-to-Own Policy to support the Lagos Mortgage Scheme for home ownership in the state.

The Commissioner for Housing, Mr Gbolahan Lawal, said at a ministerial news conference in Ikeja that the scheme had already become effective.

Lawal said that the policy was aimed at making housing more accessible and affordable, particularly to medium and low income earners in both informal and formal sectors.


According to him, individuals, under the arrangement, are required to pay five per cent of the value of the housing unit as commitment fee.

He said that the remaining payment would be spread over 10 years at six per cent interest rate.

http://www.metronaija.com/2016/04/ambode-introduces-rent-to-own-house.html

Fayose, when will you start yours