Lagos committed to providing effective mortgage system
State government has reiterated its commitment to putting up
an effective mortgage scheme that will ensure that low income
earners in the state can afford their own homes.
Commissioner for Housing, Mr. Bosun Jeje, stated this during a recent inspection tour of a project site Yaba. He said was planning mortgage systems comparable to those in developed climes, noting that the Fashola administration adopted the Public Private Partnership (PPP) initiative for project execution because government alone cannot solve the housing problems in the state.
“We want to put in place an effective mortgage scheme that can match the ones we have in developed societies. When you have an effective mortgage scheme, all you demand from home seekers is an equity contribution. When that is done, the mortgage scheme will take care of payment for the balance which will be spread over a long period of 20-25 years.
culled from www.vanguardngr.com