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Expert wants banks to revamp mortgage market
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“Many are not aware of the processes to getting a mortgage”- Dr Lanre Shonekan

Shonekan, in a chat with The Nation, said with an efficient mortgage system, more Nigerians would be able to own homes. He, however, noted that many are not aware of the processes to getting a mortgage.

“Nigerians waiting on the government for social housing may wait for a long time. This is because the economic reality does not leave room for the government to embark on such capital intensive venture. Nigerians should leverage the enabling environment being provided by the government to own homes.”- The Nation

This was the submission of the Chief Executive  Officer of LASHONE Links Group of Companies, Dr. Lanre Shonekan, at the 7th Annual Stakeholders and Real Estate Investment Forum of the firm held in Lagos at the weekend.

He explained that because of the high cost of building, his firm has researched into how to build cheap and efficient houses, using different materials, and at the same time training people in real estate development and management.

To achieve this, the firm, Shonekan said, has partnered with another  firm that specialises in a technology that allows building with containers; this technology makes it possible to own a two-bedroom apartment with about N1.5 million.

“We are exploring ways of delivering quality houses at very affordable costs to our people; and we have partnered with a reputable mortgage bank to make this possible. The 18 estates we have is a testimony to our desire to make more Nigerians home owners at relative low cost,” Shonekan said.

He explained that the firm is also into training and skills acquisition programme which cuts across all facets of human endeavour. This is because of its belief in equipping people for the future and also assists its trainees to get access to funds to start up their business. These include players in the real estate sector.

Its mortgage partners, AG Mortgage Bank,  Plc, through its head of business development, Mr. Chibuzor Ifenkwe, explained that the way forward out of recession in the country is not for people to solely depend on the government alone but be meaningfully engaged in job creation through skills acquisition.

“We know very much that government cannot  generate employment that would go round and when you see people that are ready to be supported, the bank is willing to do that,” Ifenkwe said, adding that the bank has been in the partnership for sometime, helping trainees and graduates of the school because of Lashone Links Business School’s outstanding record of training and meaningfully engaging people in skill acquisition.

Source: The Nation

One comment

  1. Educative article. I will to know where their estates are located especially if available in Lagos, ogun state. Thanks.

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