Investment
To many Nigerians, mortgage is just another word used in English language to express an idea and the reason for that is simple. The word, which is used to describe a bank that provides loans to borrowers so they can buy real estate, does not add any value to an average Nigerian’s well-being or https://www.fiverr.com/s/E32aqq . In advanced economies of the world, people don’t save or dip their hands into their pockets to buy houses. They take mortgage loans to do so and pay back in a convenient way to the lender. This is not the case in Nigeria where mortgage is neither accessible nor affordable. https://www.fiverr.com/s/dZrVbG Some Nigerians do not believe mortgage exists as they complain that the interest rates, always in double digits, charged by lenders make it unattractive to home builders or buyers who need the facility. There are also other requirements that borrowers find hard to meet. There are about 32 primary mortgage banks (PMBs) and other institutions in the...