Beneficiaries of LagosHoms become home owners after 10 years mortgage

IBRAHIM QUADRI

LagosHoms on Thursday presented exit certificates to mortgagors who have been on the state’s housing mortgage scheme, after having completed their payment.

The LagosHoms mortgage scheme allows individuals to own a home on a rent-to-own scheme with initial deposit and the payment spread over 10-years.

The exit certificate is an indication that the mortgagors have completed the payment and can now take full ownership of the home.

At the presentation ceremony of the certificate to the first set of the beneficiaries who joined the scheme in 2014, Governor Sanwo-Olu commended the mortgagors for not defaulting throughout the period of 10-years  the mortgage lasted.

He said in the last 10 years, LagosHoms has been instrumental in delivering affordable housing solutions through the provision of over 10,000 housing units to low  and middle income families.

Sanwo-Olu added that the state government has initiated and completed numerous housing projects across different parts of the state which includes   Iponri,  Surulere, Igando, Lekki, Ikorodu, and other areas.

He said the initiative has helped in reducing the housing deficit in Lagos and provides more affordable housing to the people .

“Owning a home is a dream come true and I am proud that our administration has been able to support you in realizing this dream,” he told the mortgagors.

However, in a surprising move, Sanwo-Olu thereafter named the Ilupeju Housing estate after the father of the Deputy Governor, late Muftau Hamzat.

The Deputy Governor, Obafemi Hamzat, thanked the governor for naming the estate after his father.

Hamzat noted that for people to own a home, ‘mortgage is the way to spread prosperity.’

The General Manager,  Lagos State Mortgage Homes, Bayowa Foresight thanked Sanwo-Olu for supporting the agency.

He said 20,000 residents have benefited from the mortgage scheme, adding that 20 housing estates have been commissioned in the last five years.

” LagosHoms is committed to providing affordable home for Lagosians and putting smiles on the faces of the people,” he said.