Perfection Real Estate Home Buyers Workshop
Perfection Real Estate Home Buyers Workshop took place on the 8th of September, 2018 at the Lagos Chamber of Commerce and Industry Alausa, Ikeja with a full participation from home buyers across Nigeria.
The workshop had in attendance: The MD of Imperial Homes Ltd, Mr. Ben Akaneme who talked about the challenges of financing the mortgage bank and the issues generally with the mortgage banking industry in Nigeria. He elaborated on the problem with double-digit interest rate and how it is affecting the number of people coming out to access mortgage loans. He talked about the different government initiatives to tackle mortgage financing for low-income earners like National Housing Fund and the Family Homes Fund, stating the issues with it and how it is inadequate to solve the huge housing deficit in the country.
The Workshop Proper
Mrs Adenike Fasanya Osilaja facilitated the Home Buyers Workshop. She started with the steps you should take before going to access a mortgage loan. “You should ensure you don’t overstretch yourself to pay your mortgage. if you were living in a self-contained apartment and paying rent on it. You should go for a mortgage for a self-contained apartment.” She said. She stressed on doing a 3-month assessment of your debt and loss statement and using that to evaluate how much you can afford to pay and then using that plan to access a mortgage loan. This continued for over 2 hours.
More on Land Documentation
The Co-Anchor Barr Augustine Edet talked about the documentation for land in Lagos state and the agencies that handle them. He talked elaborately about perfecting the documentation for any land and ensuring you get a good, unencumbered and perfected land for any mortgage purposes.
Mrs. Osilaja took the reins again at the second half of the workshop, talking about how you can refinance and remortgage your loan if you happen to come across a lower digits interest rate even when you are on a mortgage. She expressed the term: Home ownership is a tool and it can both be a blessing and a curse. It can be an asset and a tool used for more investment and growth and a liability when not properly evaluated from the onset. She stressed that Mortgage loans are a 20-30 years marriage contract that you can’t get rid of with a divorce so you need to look clearly before you leap into it.
The President of Perfection Betoniq Development Company, Dr. Richard Njoku spoke next about the different housing offers they have and the two types of building technology that would be used to build the houses. He talked about the RBM building system and the ELCON building technology both for building pre-casted walled houses. He spoke elaborately about the technical capacity of the building partners Betoniq JV and ended it with a video showcasing the two building technologies used in building some residential building.
The Financial Secretary of Perfection Real Estate Investors Cooperative Investors Society; Tinu Layeni, spoke next about the different cooperative real estate investment products. She took the time to explain how the participants can benefit from plugging into any of the investment products. Mr. Niyi Adeleye: President of Perfection Real Estate Investors Cooperative Investors Society; took the floor last, talking on how you can own a home through collaborative effort.
The workshop ended with a raffle draw and two participants won prizes. There was a group photograph and everyone was enthused and fired up as they now know enough to properly assess a mortgage loan. Every participant in the workshop went home with a home buyers certificate and became full members of Perfection Real Estate Investors Cooperative Investors Society.