Mortgage loans have been launched by First City Monument Bank for Nigerians who wish to own a home of their own. Mortgage loans of up to N75 million are being offered to Nigerians by the bank, according to a release.
According to the Central Bank of Nigeria, the country would need 700,000 new housing units per year for the next 20 years in order to keep up with the population's growth. To help Nigerians realize their ambition of homeownership, FCMB has offered a variety of easy-to-understand mortgage options.
Depending on their monthly or quarterly income, clients might acquire the cash needed to finance the cost of purchasing land for the construction of a home promptly at a reasonable interest rate.
He said, "Homeownership is one of the most essential accomplishments of an individual, as it goes a long way to secure a future. Our mortgage loan product is geared to assist our clients to become landlords, making them feel comfortable, successful, and happy as a result of our responsive and customer-centric approach.
"Getting a mortgage loan is simple, and you may choose how much you payback. We aspire to be a part of our client's success stories. We are committed to helping Nigerians realize their aspirations to acquire a house by providing them with the financial assistance they require when it counts most. Because of this, we encourage customers to take advantage of our lending options."
Mortgage loans would now be more easily available to Nigerians, the bank claims, as a direct result of the effects of COVID-19 on personal and household earnings as well as business.
'The bank is dedicated to COVID-19 recovery, income equality, and poverty reduction by removing credit limits for disadvantaged persons and small companies, stated FCMB Group Chief Executive Mr. Ladi Balogun.'
Aim 11 of the Sustainable Development Goals focuses on creating cities and human settlements that are secure, resilient, and sustainable, and FCMB's involvement in the housing sector coincides with this goal.