Property Bank launches product that helps home seekers afford rent

A leading real estate marketing brand, Property Bank, has launched an innovative rent product tagged  “RENT ACTUATION” specially created for home seekers who cannot afford their rent at the moment.

This innovation is achievable under a working agreement between Property Bank and TrustBond Mortgage Bank Plc.

PropertyBank is an online real estate marketing platform with a potpourri of properties covering residential, commercial, industrial properties, warehouses, plots of land etc.

Potential tenants who are currently unable to afford their choice of properties can now live in their choice houses by contacting PropertyBank for options of houses selectable from the platform while rent loan will be provided by TrustBondMortgage Bank Plc. Initial terms and conditions include:

1. 20% minimum equity contribution
2. One year rent repayable within 6 to 9 months
3. Two years rent repayable within 12 to 18 months

These terms are subject to conditions precedent to disbursement of funds by TrustBond Mortgage Bank Plc.

TrustBond Mortgages operate with a national mortgage banking license with offices in Lagos and Abuja. Their presence in these cities gives residents the opportunity to access rent loan for properties provided by PropertyBank.