LAGOS STATE GOVERNMENT REFUNDS 145 FORMER SUBSCRIBERS OF EGAN HOUSING ESTATE
admin By Oyebola Owolabi
LagosHoms has presented exit certificates to mortgagors who have completed their payment after 10 years.
The LagosHoms mortgage scheme allows individuals to own a home on a rent-to-own basis with an initial deposit, and the balance spread over 10-years.
The exit certificate indicates that the mortgagors have completed the payment and can now take full ownership of the home.
Certificates were presented yesterday to the first set of beneficiaries who joined the scheme in 2014. Governor Sanwo-Olu commended the mortgagors for not defaulting throughout the 10-year mortgage period.
According to him, LagosHoms has, in the last 10 years, 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 government has initiated and completed numerous housing projects across different parts of the state including Iponri, Surulere, Igando, Lekki, Ikorodu, and other areas. This initiative, he noted, has helped reduce the housing deficit and provided 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 realising this dream,” he told the mortgagors.
However, in a surprising move, Sanwo-Olu named the Ilupeju Housing estate after the father of the Deputy Governor, the late Muftau Hamzat.
The Deputy Governor, Obafemi Hamzat, thanked the governor for the gesture. He noted that for people to own a home, ‘mortgage is the way to spread prosperity’.
General Manager of the Lagos State Mortgage Homes, Bayowa Foresythe, thanked Sanwo-Olu for supporting the agency.
According to him, 20,000 residents have benefited from the mortgage scheme, with 20 housing estates opened in the last five years.
“LagosHoms is committed to providing affordable homes for Lagosians and putting smiles on the faces of the people,” he said.
