Lamudi in partnership with Imperial Homes to improve Mortgage access

Imperial Homes, Lamudi Nigeria in partnership for improved mortgage access.

Nigeria’s largest online property platform, Lamudi Nigeria, has entered into a strategic partnership with leading mortgage bank, Imperial Homes Mortgage Bank Limited, with the aim of improving and deepening access to affordable mortgage facilities.

Through Lamudi’s online mortgage calculator, property buyers can search for properties on the Lamudi Nigeria’s website, and also estimate their potential mortgage repayments and apply for a loan for their property of choice.

The user-friendly mortgage calculator is integrated with every property available for sale on Lamudi. As a result, a buyer can choose his/her initial deposit and the tenor of the loan, input these details and receive his/her estimated mortgage repayment calculated based on the interest rate offered by Imperial Homes. A buyer can also automatically apply for a mortgage from Imperial Homes through the same application.

“This is a very big deal for us as a platform. From the start, our core objectives have been to make it easier for our people to secure their next home. We chose to partner with Imperial Homes specifically because they share the same ideals and have developed mortgage and savings products designed to assist the broader populace in getting a firm foot on the property ladder”, explains Obi Ejimofo, Lamudi Nigeria’s Managing Director, adding, “as of today, when you visit Lamudi, you can not only find your dream home, but also secure the finances to buy it.”

Ejimofo described this collaboration as unprecedented in the real estate industry, hoping that it would empower Lamudi’s customers to secure the property of their dreams.

Ben Akaneme, Imperial Homes’ Managing Director, said their mission was to make mortgages easy and affordable in order to facilitate home ownership among Nigerians, pointing out that the collaboration was a major step in actualizing that mission.

As leaders in their respective fields, Lamudi and Imperial Homes share the same vision and, according to a statement obtained by BusinessDay, as a leading online real estate marketplace exclusively focused on emerging markets, Lamudi offers an easy-to-use and secure platform to buy, rent or sell real estate online.

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Lamudi which started operations in October 2013 has over 30,000 residential and commercial property listings from developers and real estate agents and has active offices in Lagos, Abuja, Ibadan and Port Harcourt.

Imperial Homes, on the other hand, is a mortgage bank duly licensed by the Central Bank of Nigeria to undertake mortgage banking and related services. It was originally incorporated in 1992 as Citizens Savings and Loans Limited. But the name was changed in 1997 to New Patriot Building Society Limited. Guaranty Trust Bank plc acquired the company in August 2007 as a wholly owned subsidiary and changed its name to GTHomes Limited to reflect its relationship with GTBank.