Mortgage firm targets companies’ junior staff to meet housing needs

on   /   in Finance 12:06 am   /   Comments

By MIKE EFFIONG

Kingdom Realties, one the operator in the Mortgage sector of the economy said it is out to help junior staff of companies across the country to meet their housing needs.

The Chief Executive Officer of the company, Richard Uwagie,  who disclosed this, said, that they have meeting with companies co-operative heads across the country to discuss with them how they can key into the scheme and solve the challenges of housing being faced by most junior staff in their company.

“Most co-operative have acquire d landed properties which have been allocated to their members, what members needs now is not land but a decent home, but unfortunately most members cannot afford the lump sum to build on their allocated land.”

Noting that those members, who are now land owners cannot afford borrowing because banks would not lend them all the funds needed or the interest payable is usually heavy for their salaries to carry.

He noted that, loan facility and proper land documentation are usually a slow process, hence may not get the requested facility because banks will request for complete documentation.”Employees, co-operative members will welcome any structure put in place that will provide a roof over their heads now and repay from their salaries conveniently for as long as their salaries can carry.”

Uwagie pointed out that, kingdom Realties Ltd has put a structure in place that will help every member own a home they can move into within three months of contract approval. And the home owners can pay interest-free over a period of up to 15 years. Where every member will contribute between 25-45 per cent equity and even nothing and pay instalment over 15 years of as low N12, 950 per month.”

He stressed, that 85 per cent will include lay and complete foundation for a three-bedroom bungalow, with the master bedroom, a large living room, a dinning, a kitchen and a second bedroom, roofed, furnished with electrical and plumbing fixtures, and the keys handed over to the owners, while the remaining parts of the foundation will bear one other room(Ensuite).

“The two- bedroom bungalow can now be expanded later by owners at their convenience and time to full large three-bedrooms all en suite bungalow fully completed and painted an affordable cost,”

He called on interested co-operative members to register on the company website emphasising that the company in line with the Federal Government’s Transformation agenda has the vision to provide two million functional homes/housing units for two million families and over 10million people by 2022,” Our strategy is to construct the houses on the co-operatives members, allotted plots to an 85 per cent completion stage. The 85 per per cent stage will be a bungalow on their plots of land that will be immediately habitable”. He stated

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