Mortgage Banks in Nigeria
There are many mortgage banks in Nigeria that borrow individual loans to buy real estate properties with good interest. Are you searching for the best mortgage rates in Nigeria, this article contains the list of mortgage banks in Lagos and other parts of Nigeria.
But before we list the different mortgage banks in Nigeria and their details, let’s talk about what mortgage institutions do.
What is a Mortgage Bank/Institution
A mortgage bank is a foundation that offers a wide scope of mortgage loan administrations. This is including offering credits to a person who needs to purchase houses and other land properties. Solid mortgage loan banks offer advances with sensible premium and they are enlisted and perceived by the Central Bank of Nigeria (CBN).
Credits presented by these mortgage loan organizations are taken care of in portion by the beneficiary. Before you can get to a mortgage loan credit, the vast majority of these banks expect you to acquire essentially a base compensation of N300,000 to N500,000 with different necessities. The following is the rundown of the best mortgage loan banks in Nigeria you can look for a mortgage loan advance from
Top 10 Best Mortgage Banks in Nigeria
1. Federal Mortgage Bank of Nigeria (FMBN)
This is an administration possessed contract bank that was laid out in 1956 fully intent on financing other mortgage loan organizations in Nigeria. It is a joint plan of the province advancement enterprise, national government, and the eastern legislature of Nigeria.
The primary capacity of this mortgage loan bank is to give long haul loaning administrations to other mortgage loan banks in Nigeria. Thus, that they can credit people able to take an advance to possess land property. In spite of the fact that they don’t give advances to people, this bank assume significant part in growing and preparing standard mortgage loan administrations.
2. First Bank Mortgage Limited
Most banks offer mortgage loans to customers through their subsidiaries. An example is the First Bank of Nigeria which offers mortgage loans to customers via First Bank Mortgage Limited.
They offer one of the best mortgage rates in Nigeria. If you are looking for a mortgage loan to acquire your dream home, seeking a loan with them is an ideal way for any real estate ownership. With their quality services, they have been able to provide solutions and help many in acquiring properties and homes.
3. Platinum Mortgage Banks PLC
Platinum Mortgage Banks PLC which is known previously as Platinum Home Investment and Mortgage Limited was integrated in 1992. It is one of the best mortgage banks and institutions in Lagos with quality mortgage bank services. They offer loans and services to individuals, companies, and groups for the acquisition of homes and other real estate properties.
They have many branches littered in various parts of Nigeria with a headquarter in Lagos. Also, they are duly authorized and licensed by the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria to practice.
4. Safetrust Mortgage Bank
Being one of the popular primary mortgage banks in Nigeria, Safetrust Mortgage Bank disburse loans and savings to individual and companies. They help growing clients to fulfill their dreams in a home or other real estate property ownership.
The primary mortgage bank which was established on December 2, 1992, started offering mortgage services a year later. They are reliable and licensed by the CBN. Also, they are one of the accredited mortgage institutions used by the FMBN and the National Housing Funds (NHF). You can visit their headquarters at 18, Keffi Street, Ikoyi Lagos to learn about their terms and conditions of giving mortgage loans out.
5. Abbey Mortgage Bank PLC
Have you heard of Abbey Mortgage Bank PLC? It is one of the most popular and largest mortgage banks in Nigeria. They provide different mortgage services and investment products at affordable rates.
Apart from giving individuals access to real-estate loans, they offer counseling and advisory services. Thereby making sure their customers make the right choice when it comes to real estate investment opportunities.
No doubt, Abbey Mortgage Bank PLC is one of the best mortgage institutions in Nigeria. They are licensed and accredited by CBN and National Housing funds respectively.
6. Lagos Building Investment Company
When it comes to the list of best mortgage banks in Lagos, Lagos Building Investment Company is one out of them. The mortgage state-owned company was established on 14th May 1980 and since then it has fulfilled a lot of people’s dreams of being a house owner. Over 22,000 housing project has been erected through this company.
The primary mortgage bank has different facilities and mortgage finance options for different types of houses, whether low or high cost. Also, it is available to all sundry whether within or outside the state.
7. Resort Savings and Loans
With over 20 years of mortgage banking service experience, Resort Savings and Loans offers quality mortgage rates in Nigeria. They provide mortgage loans, credits, assets, and savings at their various facilities.
They are quite famous due to their affordable loans. You can visit their headquarters at 25, Oloun street, Ikeja in Lagos state, or any other branches to learn more about their mortgage services.
8. Trustbond Mortgage Bank
This is also one of the best mortgage banks in Lagos, Nigeria which was established in 2005. With over N5 billion capital, they are capable of providing house loans to individuals and groups. Like other primary mortgage banks in Lagos, they offer mortgage services to different individuals. Apart from Lagos state, they have branches in virtually all the states.
9. Awka Savings and Loan Limited
This is also a state-owned mortgage institution that was integrated on the 25th of May in 1993. They have many opportunities including house and real estate loans for both indigenes and non-indigenes of the state.
You can visit any of their numerous branches within or outside the state. Also, you can seek more information about their mortgage loans at their Headquarters at Plot 1, Block 1, Federal Housing estate, Abak Road in Uyo.
10. AG Mortgage
The last on our list of best mortgage banks in Nigeria is AG mortgage. The primary mortgage bank was established on the 21st of July in 2004. AG Homes Savings & Loans Plc as previously called is authorized and licensed by the CBN. With over 5000 shareholders, AG mortgage provides mortgage loans and services to different categories of customers.
You can visit their headquarters at 96 Opebi Rd, Maryland, Ikeja, or any of their branches.
More on Mortgage Banks in Nigeria
There are many other mortgage banks in Nigeria that offer quality loans to acquire houses and other real estate property. But the above-mentioned banks are the best out of the best. They do not only offer affordable mortgage rates, they are certified and authorized to practice.