Lagos mortgage scheme allocates 20,000 homes since inception
The Lagos State Mortgage Board has allocated over 20,000 housing units through its Lagos mortgage scheme since 2014, bridging the housing deficit for resid Read More: https://punchng.com/lagos-mortgage-scheme-allocates-20000-homes-since-inception/
The Lagos State Mortgage Board (LagosHOMS), established in 2014, has allocated over 20,000 housing units to residents since its inception. The board was formed to address Lagos' housing deficit by providing affordable homes to residents. A survey revealed a significant housing shortage, prompting the state to explore various solutions, including mortgage and rent-to-own schemes for low- and middle-income earners.
The General Manager/CEO of LagosHOMS, Mr. Bayowa Foresythe, discussed the scheme's success during a birthday celebration for himself. Foresythe highlighted the allocation of properties across Lagos' five divisions, including the Island, Surulere, Ikorodu, Epe, Ogba, and Ilupeju. The scheme has proven successful due to favorable policies, life and fire insurance, facilities management, and support for beneficiaries.
Foresythe encouraged residents to continue paying their taxes and believed in the government's efforts to provide affordable housing.
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