Brent Mortgage Bank targets Diaspora with product offerings

In its bid to ease home acquisition, Brent Mortgage Finance bank has introduced three mortgage products to the gaps that exist in the nascent mortgage sector. The Managing Director, Kola Abdul at the launch of the products said one of the products would serve the needs of Nigerians in Diaspora who were working hard and […]

In its bid to ease home acquisition, Brent Mortgage Finance bank has introduced three mortgage products to the gaps that exist in the nascent mortgage sector.
The Managing Director, Kola Abdul at the launch of the products said one of the products would serve the needs of Nigerians in Diaspora who were working hard and living in decent accommodations outside the country and also look forward to a similar atmosphere in Nigeria.
“We realize that many of them have not been able to achieve this dream of owning a home of their choice because of funds diversion, suppression, and conversion by friends and relations,” he said.
The Brent Home Ownership Diaspora Account(BHODA) is specifically created for Nigerians in Diaspora who desire to own a home or invest in property in their homeland.  Abdul said it is designed to check the tripod of “funds diversion”, “funds suppression” and “funds conversion” by friends and relations.
Disclosing the features of the other products, he said,  Brent Rent-to-Own(Brento) targets  Customers and prospects want to use their yearly payment of a lump sum rent as  mortgage repayment and interest elements for an agreed period of time ranging from (5years to 10years) with an  Interest payment 10 percent p.a.
The Brent Retirement Home  (BREHOP) targets prospects with regular stream of income, especially salary earners who can take advantage of this product to become home owners before retirement with negotiable Interest rate.