FCMB, real estate firms offer N75m mortgage loans

First City Monument Bank (FCMB) has partnered with Brains & Hammers Limited and Brooks Assets & Resources Limited to offer mortgage loans of up to N75 million to provide affordable housing for salary earners and self-employed residents in Lagos State. The facility will empower FCMB customers and other Nigerians to purchase homes or acquire land […]

First City Monument Bank (FCMB) has partnered with Brains & Hammers Limited and Brooks Assets & Resources Limited to offer mortgage loans of up to N75 million to provide affordable housing for salary earners and self-employed residents in Lagos State.

The facility will empower FCMB customers and other Nigerians to purchase homes or acquire land in areas of their choice within the state.

In a statement released by the bank in Lagos at the weekend to announce the partnership, Mr Shamsideen Fashola, Divisional Head of Personal Banking at FCMB, said the mortgage loan is easy to obtain and repayment is flexible.

He urged Nigerians to take advantage of the offer to fulfil their home ownership dream and assured them that, “FCMB will continue to support the dreams of its customers and Nigerians by giving them the financial support they need to be homeowners when it matters most.”

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FCMB, real estate firms offer N75m mortgage loans

He explained that repayment of the mortgage facility can be spread over 120 months or 10 years, adding that the scheme offers several benefits, including competitive interest rates, insurance cover and the flexibility to purchase fully completed residential buildings or land in any part of Lagos.

Commenting, the acting Group Chief Operating Officer of Brains & Hammers Limited, Mrs Christine Fashakin-Nobre, said the company has products for Nigerians dreaming of becoming landlords and will work with FCMB to reduce the housing deficit.

The Managing Director of Brooks Assets & Resources Limited, Ms Lanre Sola, said the provision of Affordable and Acceptable Housing (AAH) to the average Nigerian has been a source of concern over the years, but the long-term mortgage facility by FCMB has come as a blessing in disguise.