Mortgage Banks In Nigeria
Mortgage banks in Nigeria are banks or financial bodies that give out loans to people who need the loans to finance their housing properties, such as housing insurers and real estate agents.
When receiving a mortgage loan, the borrower promises the lender collateral, should he be unable to meet up with his payment and this collateral is usually the home the borrower got the loan to finance or existing home.
You may also like to read microfinance banks in Nigeria.
There are various mortgage banks in Nigeria but before getting a mortgage loan, one has to be sure that a good repayment plan is in place and the property one is financing is sure to yield enough profit to service the loan.
This article seeks to carefully itemize mortgage banks in Nigeria, in no particular order, eight mortgage banks in Nigeria and their unique standout qualities that make them credible. You can’t afford to stop now. So. read on!
Eight Mortgage Banks in Nigeria
- FBN MORTGAGES
First Bank of Nigeria Mortgages, just like its microfinance serves is reliable and the most preferred; I guess this is due to the fact that many have tried its microfinance features and have come to trust it to do better in its other aspects.
This bank provides the very best of its services to individuals, stakeholders, real estate, and foreign investors and has built a large customer base all through the years of its existence.
2. ABBEY MORTGAGE BANK PLC.
One largely mentioned mortgage agency is the Abbey Mortgage Bank. Set up in August 1991 and fully licensed in January 1992, this bank is a primary mortgage institution and the very first in Nigeria to have foreign equity investments in Tunisia.
Abbey Mortgage bank has made good its promise of delivering unparalleled services to its customers by constantly establishing branches across the country.
3. SAFETRUST MORTGAGE BANK
Formerly known as Safetrust Savings and Loans Limited, Safetrust Mortgage Bank is one of the primary mortgage banks endorsed by the Federal Mortgage Bank of Nigeria (FMBN) and the Central Bank of Nigeria(CBN), issued with the responsibility of expending National Housing Funds(NHF) to contributors.
Established in September 1992 and commenced official duties in September 1993, this bank boasts of high-quality investors and individuals in its circle of customers and partners.
4. JUBILEE LIFE MORTGAGE BANK
The Jubilee Life Mortgage Bank was born out of a Christian edict initiated by the Redeemed Christian Church of God(RCCG), to assist significant-minded people interested in owning a home. Their mortgage products and services are made available to low-middle income earners in order to help them achieve their housing needs without having to spend so much.
The bank has been tested to be trustworthy with its dealings centered on core disciplines such as trustworthiness, accountability, transparency, etc.
5. HAGGAI MORTGAGE BANK
Haggai Mortgage Bank is one fully licensed by the Central Bank of Nigeria. Haggai’s mortgage services are in a way unique; as they have got a wide range of offers apposite to each customer’s needs; designed to ease the stress of going through all the options. At Haggai, you simply place a request and get a detailed panacea that suits your needs.
6. RESORT SAVINGS AND LOANS
Resort Savings and Loans represents one of the premier mortgage banks in Nigeria, has been in existence for about 20 years. The major existing force of this bank is its unrivaled customer service and zeal to expand its reach in the real estates’ sector of the economy. This bank boasts of immense achievements and a good reputation.
7. TRUSTBOND MORTGAGE BANK PLC
Trustbond Mortgage Bank Plc came into existence in 2005 when Gateway Bank was acquired by Intercontinental Bank Plc, which had a mortgage section known as Intercontinental Homes. Thereafter, Intercontinental homes became an ancillary of Access Bank after being acquired by Access Bank Plc.
The board association of this bank consists of competent individuals who are willing to raise the structure of the bank to international standards.
Trustbond is definitely one of the best around and you need to give them a shot.
8. PLATINUM MORTGAGE BANK LIMITED
Platinum Mortgage Bank is another leading mortgage bank with a wide topographical layout. The bank was set up with a simple mandate, which is to provide housing services with a stress-free approach and at a low-cost rate; to be easily accessible to the masses.
This list contains only the very best eight mortgage banks in Nigeria. A few others abound, but these top the list, with a wide range of customers who attest to their credibility and good reputations. Ensure to visit their websites to find out more about them.
I wish you good luck in your housing dreams. Till I come your way again, Cheers!